RLI - RLI Corp. (RLI) Q4 2023 Earnings Call Transcript
2024-01-25 16:52:08 ET
RLI Corp. (RLI)
Q4 2023 Earnings Conference Call
January 25, 2024, 11:00 AM ET
Company Participants
Aaron Diefenthaler - Chief Investment Officer & Treasurer
Craig Kliethermes - President & Chief Executive Officer
Todd Bryant - Chief Financial Officer
Jen Klobnak - Chief Operating Officer
Conference Call Participants
Gregory Peters - Raymond James
Andrew Andersen - Jefferies
Meyer Shields - KBW
Scott Heleniak - RBC Capital Markets
Presentation
Operator
Good morning, and welcome to the RLI Corp. Fourth Quarter Earnings Teleconference. After management's prepared remarks, we'll open the conference up for questions and answers.
Before we get started, let me remind everyone that through the course of the teleconference, RLI management may make comments that reflect their intentions, beliefs and expectations for the future. As always, these forward-looking statements are subject to certain factors and uncertainties, which could cause the actual results to differ materially. Please refer to the risk factors described in the company's various SEC filings, including in the annual report on Form 10-K as supplemented in Forms 10-Q, all of which should be reviewed carefully. The company has filed a Form 8-K with the Securities and Exchange Commission that contains the press release announcing third quarter results.
During the call, RLI management may refer to operating earnings and earnings per share from operations, which are non-GAAP measures of financial results. RLI's operating earnings and earnings per share from operations consist of net earnings after the elimination of after-tax realized gains or losses and after-tax unrealized gains or losses on equity securities.
Additionally, equity and earnings of Maui Jim and the related taxes were excluded from operating earnings and operating EPS for 2022 due to the sale of RLI's investment in the third quarter of 2022. RLI's management believes these measures are useful in gauging core operating performance across reporting periods but may not be comparable to other companies' definitions of operating earnings. The Form 8-K contains a reconciliation between operating earnings and net earnings. The Form 8-K and press release are available at the company's website at www.rlicorp.com....
RLI Corp. (RLI) Q4 2023 Earnings Call Transcript