RLI

RLI sees opportunity in E&S non-coastal property as standard markets pull back

RLI management has commented that overall E&S property growth is slowing as carriers, and especially MGAs, become more aggressive on rates, but the carrier is “seeing more opportunity in the E&S space in non-coastal exposures”.

Leaders bullish on E&S despite property slowdown

Property casualty leaders remain bullish about the E&S space but have noted shifting dynamics as property rate increases slow while submissions remain strong for casualty.

RLI still seeing “great opportunity” in property as casualty submissions surge

RLI continues to see plenty of “great opportunity” to grow its property portfolio even as competition in the sector intensifies, while the carrier has seen a significant uptick in the number of casualty submissions it has received, according to COO Jen Klobnak.

RLI’s Klobnak: MGA discipline is “leaving” the property market

RLI is allowing its property exposure “to go down a bit” as competition increased during the fourth quarter, driven by MGAs, its chief operating officer has reported, while the executive also provided feedback on the specialty insurer’s 1.1 reinsurance renewal.

RLI quits primary energy casualty and trims D&O and transportation as property writings soar

RLI has taken the “tough decision” to quit the primary energy casualty market after competitive pressures drove the specialty carrier to trim its public D&O and transportation writings in Q2 2023, but the business continued to lean into property as it reduced limits and took on new customers.

Good times continue to roll for E&S operations in Q4

RLI property treaties renew with higher retentions and 40%+ rate hikes

RLI was hit with 40 percent-plus risk-adjusted rate increases on both its property per-risk and catastrophe treaties at 1 January while the carrier raised the retentions on both programs following what president and CEO Craig Kliethermes said was “a hard reboot” in the reinsurance market.

RLI pulls out of energy excess casualty but grows in property

RLI has exited energy excess casualty business as part of a broader retrenchment from liability classes in that industry segment as the specialty insurer also highlighted growth in property where “disorderly market conditions” and higher reinsurance costs will fuel further rate increases.

RLI property premium up 47% in Q1 as expected E&S competition “hasn’t arrived”

RLI increased its property premium by 47 percent in the first quarter on the back of accelerating price increases and the absence of an expected increase in competition, the insurer’s management commented on an earnings call, while in the casualty segment D&O and transportation competition has returned.

RLI buys $100mn of additional cat reinsurance at 1.1 to support property growth

RLI bought $100mn of additional catastrophe reinsurance limit at its 1 January renewal to support growth in its E&S property book as it also revealed on its fourth quarter earnings call that it has exited large account cyber written as part of its D&O portfolio.

RLI: Small casualty and wheels price increases slow in Q3

While rates continued to rise across much of RLI’s portfolio in Q3 2021 and helped to fuel net premiums written (NPW) growth of 19 percent during the period, pricing in lines like commercial auto and smaller casualty has started to taper off, according to president and chief operating officer Craig Kliethermes.

RLI: rising risk levels to drive sustained rate momentum

RLI has warned of the potential long-term impact of social inflation as well as loss cost inflation associated with rising building, material and labour costs that could prove challenging in this year’s hurricane season as it said it expects rate momentum to continue in the insurance sector.

RLI stays on special dividend streak despite 2020 industry challenges

US specialty insurer RLI Corp has declared a special cash dividend for the 11th year in a row that will see investors receive $1.00 per share for a total payout of around $45mn, as well as a regular quarterly cash dividend of $0.24 per share.

RLI says its Q3 cat losses will be up to $45mn

US specialty insurer RLI has preannounced an estimated range of pre-tax cat losses for the third quarter of $35mn to $45mn, including the impact of a quartet of landfalling hurricanes.

RLI promotes Ward to lead E&S property group

Jonathan Ward has been promoted to lead RLI’s E&S property group, replacing John Stenhouse who recently retired.

RLI reports in-line earnings and updates risk factors for Covid-19

RLI reported in-line operating profits and a net loss for the first quarter driven by market volatility as it also revealed in an SEC filing that it is updating risk factors affecting its business to reflect the potential impact of Covid-19.