RLI Stock Price, News & Analysis

RLI Corp. (NYSE: RLI) has announced the sale of its minority interest in Maui Jim, Inc.. This transaction is detailed in a Form 8-K filed today and is accessible on RLI’s website. Selling this stake indicates a strategic move for RLI, potentially reallocating resources to enhance its core operations or investments.

RLI Corp. (NYSE: RLI) has declared a first quarter cash dividend of $0.25 per share, remaining consistent with the previous quarter. This dividend is payable on March 18, 2022, to shareholders on record as of February 28, 2022. RLI has a strong history, increasing dividends for 46 consecutive years and delivering underwriting profits for 26 consecutive years. The company's current dividend yield stands at 1.01%, based on an annual dividend of $1.00 and a closing stock price of $99.24.

RLI Corp. reported strong fourth quarter 2021 results with net earnings of $95.3 million ($2.08 per share), up from $83.8 million ($1.84 per share) in Q4 2020. Operating earnings were $57.7 million ($1.26 per share) versus $34.0 million ($0.75 per share) the previous year. The company achieved a 12% increase in gross premiums written and a favorable underwriting income of $49.7 million, with an 80.7 combined ratio. A special dividend of $2.00 per share was announced, totaling $90.6 million returned to shareholders.

RLI Corp. (NYSE: RLI) will announce its fourth quarter 2021 earnings after market close on January 26, 2022. A conference call to discuss the results is scheduled for January 27, 2022, at 10 a.m. CST, which will be available via webcast. RLI Corp. specializes in niche property, casualty, and surety insurance, with an A+ rating from AM Best. The company has a strong track record, having paid and increased dividends for 46 consecutive years and delivering underwriting profits for 25 consecutive years.

RLI Corp. (NYSE: RLI) has promoted two experienced leaders to enhance its executive team. Brian A. Schick is now Vice President, Surety, overseeing the Contract, Miscellaneous, and Commercial Surety business. He has 27 years of industry experience. Thomas J. Ward has been elevated to Vice President, Risk Services, bringing 37 years of insurance expertise. RLI President & COO Craig Kliethermes expressed confidence in their ability to drive the company's growth and success, given their proven leadership and commitment.

RLI Corp. (NYSE: RLI) has had its A+ (Superior) financial strength rating affirmed by AM Best for its insurance subsidiaries: RLI Insurance Company, Mt. Hawley Insurance Company, and Contractors Bonding and Insurance Company. Additionally, the Long-Term Issuer Credit Ratings of 'a' for RLI Corp. and 'aa' for its subsidiaries were confirmed. AM Best cited RLI's strong balance sheet, operating performance, favorable business profile, and effective enterprise risk management as key factors in the decision.

RLI Corp. (NYSE: RLI) has declared a special cash dividend of $2.00 per share and a regular quarterly cash dividend of $0.25 per share, both payable on December 20, 2021. The special dividend totals approximately $90 million, reflecting RLI's strong performance and commitment to returning capital to shareholders. In 2021, RLI returned $135 million to shareholders, contributing to a total of over $1.1 billion returned over the past decade. RLI has paid increasing dividends for 46 consecutive years, underscoring its financial strength.

RLI Corp. (NYSE: RLI) has appointed Craig W. Kliethermes as President and CEO, and Jennifer L. Klobnak as COO, effective January 1, 2022. This leadership change follows the retirement of Jonathan E. Michael, current Chairman & CEO. Kliethermes brings 36 years of insurance experience, while Klobnak has 21 years. Under Michael's 20-year leadership, RLI diversified its product portfolio, achieving 20 consecutive years of underwriting profit and significant returns for shareholders, outperforming S&P indexes.

RLI Corp. reported Q3 2021 net earnings of $29.2 million ($0.64 per share), down from $42.4 million ($0.93 per share) in Q3 2020. Operating earnings increased to $29.8 million ($0.65 per share) compared to $19.0 million ($0.42 per share) year-over-year. Highlights include an 18% rise in gross premiums written and a combined ratio of 94.6 despite losses from Hurricane Ida. Net investment income rose by 7.9% to $17.8 million, while comprehensive earnings fell to $17.0 million from $51.9 million a year earlier. The company sustained a $0.25 dividend, maintaining its dividend payout record.