Business & Finance
Tue, June 19, 2012
PEORIA, Ill.--([ BUSINESS WIRE ])--RLI Corp. (NYSE:RLI) a" RLIas A+ (Superior) financial strength rating (FSR) has been reaffirmed by A.M. Best for the following insurance subsidiaries -- RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company. Additionally, RLI subsidiary Contractors Bonding and Insurance Company (CBIC) received an upgraded FSR to A+ (Superior) from A (Excellent).
A.M. Best also upgraded the issuer credit rating (ICR) for each RLI company. RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company received an ICR upgrade to aaaa from aaa-a. The ICR of CBIC was upgraded to aaa-a from aa+a, and RLI Corp., the publicly traded holding company, received an ICR upgrade to aaa from aa-a.
A.M. Best Company, a leading rating agency for the insurance industry, cited that RLIas ratings reflect its outstanding long-term profitability, superior capitalization and excellent business profile as one of the leading specialty property/casualty insurers in the United States. The company also noted that CBICas rating upgrade reflects its strong risk-adjusted capitalization, profitable underwriting and operating results and the benefits derived from its ownership by RLI.
RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in all 50 states from office locations across the country. RLIas insurance subsidiaries a" RLI Insurance Company, Mt. Hawley Insurance Company, RLI Indemnity Company and Contractors Bonding and Insurance Company a" are rated A+ aSuperiora by A.M. Best Company.
For additional information, contact Aaron Jacoby, Vice President, Corporate Development at 309-693-5880 or at [ aaron.jacoby@rlicorp.com ] or visit our website at [ www.rlicorp.com ].
