RLI
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Management was speaking after RLI reported a Q1 combined ratio of 77.9% for Q1 2023, unchanged compared to the prior-year quarter, as top line growth accelerated sequentially to 15.6%. -
The specialty carrier booked $4mn of net incurred losses associated with 2023 storms.
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RLI renewed its property per-risk treaty with an estimated 40% risk-adjusted rate increase, and the first dollar retention went up to $2mn.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The insurer’s NWP grew 14.4% to $298mn, while GWP rose almost 14% to $384mn in Q4.
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In tandem, the company announced promotions of Chris Hughs to VP of general liability and Chris Gleason to VP of contract surety.
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Discussion on Q3 earnings calls focused heavily on the supply-demand imbalance in cat capacity, as executives discussed how they would navigate a challenging January renewal.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The two specialty insurers reported strong Q3 2022 earnings, continuing to outperform the commercial industry in underwriting gains and value creation.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Of the ~$40mn Ian loss net of reinsurance, $33mn impacted RLI’s property business and $7mn its casualty unit for some package policies.
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Overall, the company recorded an $8.8mn underwriting profit for the quarter, down almost 36% from last year.
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