RLI Corp. (NYSE:RLI) Q2 2022 Earnings Conference Call July 21, 2022 11:00 AM ET

Company Participants

Aaron Diefenthaler - Chief Investment Officer & Treasurer

Todd Bryant - Chief Financial Officer

Craig Kliethermes - President & Chief Executive Officer

Jen Klobnak - Chief Operating Officer

Conference Call Participants

Greg Peters - Raymond James

Meyer Shields - KBW

Mark Dwelle - RBC

Jamie Inglis - Philo Smith

Casey Alexander - Compass Point

Operator

Good morning and welcome to the RLI Corp. Second Quarter Earnings Teleconference. After management’s prepared remarks, we will open the conference up for question 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 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 second 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.

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 on the company's website at www.rlicorp.com.

I will now turn the conference over to RLI's Chief Investment Officer and Treasurer, Mr. Aaron Diefenthaler. Please, go ahead.

Aaron Diefenthaler

Thank you and good morning. Welcome to RLI's second quarter earnings call for 2022. Joining us today are Craig Kliethermes President and CEO; Jen Klobnak, Chief Operating Officer; Todd Bryant, Chief Financial Officer; and Jon Michael Chairman.

Today's agenda should be familiar, as Todd will start off with financial results for the quarter ended June 30th. Craig and Jen will follow offering high-level comments on current market -- the current market environment and details on our product segments. We will then take your questions and Craig will close with some final thoughts.