RLI Corp. (NYSE:RLI) Q1 2019 Earnings Conference Call - Final Transcript

Apr 18, 2019 • 11:00 am ET


RLI Corp. (NYSE:RLI) Q1 2019 Earnings Conference Call - Final Transcript


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Ross Seymore

Competition is quite challenging, particularly in the commercial and energy businesses, where underwriting appears to be undervalued by our competitors. Premiums are larger here, and a few bonds or accounts can swing the top-line. We continue to focus on widening our moat, investing in technology and the customer experience, supporting our contractors as they build their business, and better serving our producers by leveraging a broad set of surety offerings.

Overall, the ROI team delivered again this quarter with solid top-line growth and a sub-90 combined ratio. At RLI, we understand our recipe for success and how to tip the playing field to our advantage. We get great talent, immerse them in our disciplined ownership culture, and align them with compensation based on profitability over the long-term. We know what fits, what differentiates us, and understand the risk reward trade-offs. Our feedback loops are strong, and results are very visible. The team learns and adjust quickly, always keeping both ores in the water.

We know how to preserve and grow capital and focus resources on products where we can deliver differentiating service and exceptional financial results. At RLI, we will continue to be different because being different has proven to work. I want to thank all of our owner associates for the great start to 2019.

And I'll turn it back to Aaron to take questions.

Kathy Ta

Great. Thanks, Craig. Operator, we can now open the call up for questions.