Illinois-based RLI Corp.’s rating for its principal insurance subsidiaries was upgraded to A+ (Superior) by A. M. Best Company.
The financial rating service lauded RLI for continuing “to take advantage of market opportunities as evidenced by its strong growth (via pricing), record earnings, increased business retention and enhanced capitalization.” In addition, Best cited RLI’s “use of technology, aggregate risk management and its comprehensive reinsurance program, which serves to preserve capital.”
This upgrade applies to all three RLI insurance subsidiaries: RLI Insurance Company, Mt. Hawley Insurance Company, and RLI Indemnity Company. Concurrently, Best upgraded the debt rating of RLI’s existing $100 million 5.95% senior unsecured notes, due January 2014, to “a-” from “bbb+”.
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