Rli Corp (NYSE: RLI)

RLI Corp. was founded in 1965. The company underwrites select property, casualty and surety products through its subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. It operates in the specialty admitted, excess and surplus and specialty reinsurance markets. RLI Corp. provides insurance coverage in all 50 states, the District of Columbia, Puerto Rico, the Virgin Islands and Guam.

Revenue is generated primarily from net premiums earned on property, casualty and surety policies. In 2025, gross premiums written were $1.6 billion with 60 percent from specialty admitted lines, 39 percent from excess and surplus lines and 1 percent from specialty reinsurance. The company also assumes and cedes reinsurance to manage risk and earns investment income on its investment portfolio.

The company operates through the following segments: Property, Casualty, and Surety.

• Property segment provides commercial property, marine and other property insurance. It offers excess and surplus lines and specialty coverages such as fire, earthquake, wind and difference in conditions policies for commercial and industrial risks. Marine coverages include cargo, hull, protection and indemnity and inland marine coverages such as builders’ risks and contractors’ equipment. The segment also offers specialized homeowners’ and dwelling fire insurance in Hawaii and property coverages through binding authority arrangements.

• Casualty segment includes commercial excess and personal umbrella, commercial transportation, general liability, professional services, small commercial, executive products and other casualty lines. It provides excess liability over primary policies, automobile liability and physical damage for truckers, third party liability for manufacturers and contractors, errors and omissions for professionals, property and casualty coverages for small to mid sized contractors, management liability coverages such as directors and officers and fidelity bonds, and specialty coverages like home business insurance and quota share reinsurance arrangements.

• Surety segment offers transactional, commercial and contract surety bonds. Transactional bonds cover license and permit, notary and court obligations for individuals and businesses. Commercial bonds support medium to large sized entities in industries such as financial, healthcare, energy and renewable energy. Contract bonds guarantee performance and payment for small to medium sized contractors on construction projects, including bonds reinsured through the Federal Small Business Administration.

RLI Corp. holds a strong position in the specialty insurance market with superior financial strength ratings of A+ from AM Best, A from Standard & Poor’s and A2 from Moody’s. The company competes with large insurers such as AIG, Allianz, Chubb, Travelers and Zurich across its lines of business. Competitive advantages include disciplined underwriting, a niche focus on hard to place risks, deep expertise in specialty coverages, a strong financial condition and a broad geographic footprint. RLI Corp. emphasizes innovative coverages, high quality service and fair pricing to win business while avoiding market share growth that would compromise underwriting profitability.

The company distributes its products through wholesale and retail brokers, independent agents, carrier partners, managing general agents and direct digital platforms. It serves a diverse range of insureds including businesses, contractors, professionals and individuals across various industries. No specific customer names are disclosed in the filing.