NOVEMBER 17, 2020 02:37 PM (EST)
AM Best Affirms Credit Ratings of RLI Corp. and Its Subsidiaries
FOR IMMEDIATE RELEASE
OLDWICK - NOVEMBER 17, 2020 02:37 PM (EST)
The ratings reflect RLI’s balance sheet strength, which AM Best categorizes as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management.
The company’s long track record of positive operating results demonstrates the capability of producing results that are consistently above those of its peer group. RLI has the expertise to focus on niche opportunities by concentrating on markets that often are underserved, which helps insulate it from the various stages of the traditional property/casualty market cycle. Further supporting the ratings is the strong financial flexibility afforded by RLI Corp., as evidenced by its modest financial leverage and strong fixed-charge coverage.
AM Best believes that RLI is well-positioned at its current rating level. Key rating drivers that could lead to downward rating pressure are a significant deterioration in RLI’s underwriting performance and a significant decline in its risk-adjusted capitalization.
The FSR of A+ (Superior) and the Long-Term ICRs of “aa”, each with a stable outlook, have been affirmed for the members of RLI Group:
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.