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Section 1: 8-K (8-K)






Washington, D.C. 20549





Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): November 8, 2018




RLI Corp.

(Exact name of registrant as specified in its charter)












(State or other jurisdiction




(IRS Employer

of incorporation)


File Number)


Identification No.)


9025 North Lindbergh Drive, Peoria, IL



(Address of principal executive offices)


(Zip Code)


Registrant’s telephone number, including area code: (309) 692-1000


Not applicable

(Former name or former address, if changed since last report.)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  





Item 8.01              Other Events.


On November 8, 2018, RLI announced that its Board of Directors approved a special cash dividend on its common stock of $1.00 per share and a regular quarterly dividend on its common stock of $0.22 per share.  Both dividends are payable on December 27, 2018 to shareholders of records as of November 30, 2018. 


On November 8, 2018, RLI also announced its preliminary pre-tax estimate for losses from Hurricane Michael.


Furnished as Exhibit 99.1 and incorporated herein by reference is a copy of the press release issued by RLI announcing the dividends and the loss estimate from Hurricane Michael.


Item 9.01              Financial Statements and Exhibits.


(d) Exhibits





Exhibit No.





Press Release dated November 8, 2018.



This Exhibit is furnished pursuant to Item 8.01 hereof and should not be deemed to be “filed” under the Securities Exchange Act of 1934.





Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.













Date: November 8, 2018



/s/ Jeffrey D. Fick



Jeffrey D. Fick



Sr. Vice President and Chief Legal Officer






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Section 2: EX-99.1 (EX-99.1)

4Q18_Press Release_Exhibit_991_Dividend




Exhibit 99.1


Picture 77



PEORIA, ILLINOIS, November 8, 2018 -- RLI Corp. (NYSE: RLI) – – RLI Corp. announced today its board of directors has declared a special cash dividend of $1.00 per share of common stock, which is expected to total approximately $45 million, and a regular quarterly cash dividend of $0.22 per share. Both dividends are payable on December 27, 2018, to shareholders of record as of November 30, 2018.   


RLI has paid dividends for 170 consecutive quarters and increased regular dividends in each of the last 43 years. 

RLI also announced today a preliminary pre-tax estimate for losses from Hurricane Michael of $22 to $27 million, net of reinsurance. Since this estimate is based on reported and projected claim activity, actual losses may differ materially from this initial estimate.

“RLI has experienced strong momentum in 2018, as evidenced by our broad-based growth across our product portfolio,” said RLI Chairman & CEO Jonathan E. Michael. “Our strategy has always emphasized putting our capital to work in support of profitable underwriting initiatives first, and that’s exactly what we have accomplished. In 2018, we experienced higher-than-average catastrophe losses. With the addition of Hurricane Michael, our year-to-date pre-tax net catastrophe losses are expected to be in the range of $40 to $45 million. Despite these catastrophes, we are pleased to be able to continue rewarding shareholders with a special dividend derived from our strong earnings and book value growth.”


RLI Corp. (NYSE: RLI) is a specialty insurer serving diverse, niche property, casualty and surety markets. The company provides deep underwriting expertise and superior service to commercial and personal lines customers nationwide. RLI’s products are offered through its insurance subsidiaries RLI Insurance Company, Mt. Hawley Insurance Company and Contractors Bonding and Insurance Company. All of RLI’s subsidiaries are rated A+ “Superior” by A.M. Best Company. To learn more about RLI, visit 


Aaron Jacoby

Vice President, Corporate Development




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