RLI Corp Executives Show Faith with Significant Cluster Buying

Recent Insider Trades at RLI Corp

On January 24, 2025, key executives at RLI Corp. demonstrated their confidence in the company's future by making significant insider purchases. The details of these transactions are as follows:

Craig Kliethermes, President and CEO, acquired 5,000 shares at $71.35 each, amounting to a total investment of $356,750.

Jennifer Klobnak, Chief Operating Officer, purchased 2,000 shares at $72.10 each, totaling $144,200.

Jeffrey Fick, Chief Legal Officer and Corporate Secretary, bought 2,000 shares at $72.13 each, for $144,260.

Michael E. Angelina, Director, acquired 2,200 shares at $72.62 each, amounting to $159,764.

These transactions collectively represent a strong vote of confidence in RLI Corp.'s growth trajectory and financial health.

Insiders’ Backgrounds: Experienced Leaders with Strategic Insight

These insiders bring a wealth of expertise and strategic vision to the company. Craig Kliethermes, the President and CEO since 2006, has been instrumental in steering the company’s growth. Jennifer Klobnak, as Chief Operating Officer, ensures seamless operations and implementation of strategic initiatives. Jeffrey Fick, Chief Legal Officer and Corporate Secretary, expertly navigate the legal complexities of the insurance industry, while Michael E. Angelina, a seasoned director, provides valuable guidance drawn from his extensive industry experience. Together, their leadership and industry knowledge reinforce confidence in RLI’s future prospects.

Financial Performance and Recent Developments

RLI Corp. has demonstrated strong financial performance in the year 2024, further solidifying its market position:

Fourth Quarter 2024: The company reported net earnings of $40.9 million ($0.44 per share), compared to $114.6 million ($1.24 per share) in the fourth quarter of 2023. Operating earnings were $0.41 per share, reflecting consistent growth. The company’s underwriting income stood at $22.2 million on a combined ratio of 94.4, demonstrating disciplined risk management.

Full Year 2024: RLI achieved a net income of $345.8 million ($3.74 per share), a substantial increase from $304.6 million ($3.31 per share) in 2023. Gross premiums written grew by 11% to $2.0 billion, with a net investment income increase of 18% driven by higher yields.

Beyond its financial results, RLI Corp. has also pursued strategic expansion to further strengthen its market position. The company is diversifying into niche markets such as moving and storage, aiming to mitigate competition in traditional trucking sectors. This move capitalizes on RLI’s underwriting expertise and positions the company to seize emerging opportunities in these specialized areas.

These results and strategic initiatives highlight RLI Corp.’s robust financial health, effective management strategies, and resilience in a competitive market. The recent insider trades further reinforce the confidence in the company’s ability to sustain and build upon this momentum.