RLI - RLI Corp.: Mounting Competition In Property But No Alarms
2024-03-11 04:46:51 ET
Summary
- RLI Corp. delivered a strong quarter despite having to be selective with underwriting in the casualty business and tougher loss ratios.
- The company remains cautious in pushing into the property space due to higher rents and less discipline by competitors, but rate increases remain excellent, driving growth there.
- Underlying investment income is supported by the higher rate environment. Also, discretionary tech investments are part of the headwinds, only for now.
- There is still space for corporate cost improvement later on, and the conditions remain good in property. No alarms to raise, but the premium on RLI is high and things aren't trending that well.
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RLI Corp.: Mounting Competition In Property, But No Alarms