RLI Corp. (NYSE:RLI) Q2 2024 Earnings Conference Call July 23, 2024 11:00 AM ET
Company Participants
Aaron Diefenthaler - Chief Investment Officer and Treasurer
Craig Kliethermes - President and Chief Executive Officer
Todd Bryant - Chief Financial Officer
Jen Klobnak - Chief Operating Officer
Conference Call Participants
Sid Parameswar - Raymond James
Andrew Anderson - Jefferies
Scott Heleniak - RBC
Meyer Shields - KBW
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 questions 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 the 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 third 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 at the company's website at www.rlicorp.com.
I would now turn the conference over to RLI's Chief Investment Officer and Treasurer, Mr. Aaron Diefenthaler. Please go ahead.
Aaron Diefenthaler
Thank you, Makaya. Good morning, everyone. Thank you for joining us to review RLI's results for the second quarter and first-half of 2024. As usual, we are joined by Craig Kliethermes, President and CEO; Jen Klobnak, Chief Operating Officer; and Todd Bryant, Chief Financial Officer.
Craig is going to open with some high-level commentary. Todd will then give us the play-by-play on financial results. Jen will offer commentary on market conditions and further details on our product portfolio. We will then open things up for questions and Craig will close with some final thoughts. Craig?