RLI Corp. (NYSE:RLI) Q3 2024 Earnings Conference Call October 22, 2024 11:00 AM ET
Company Participants
Aaron Diefenthaler - CIO and Treasurer
Craig Kliethermes - President and CEO
Todd Bryant - CFO
Jen Klobnak - COO
Conference Call Participants
Bill Carcache - Wolfe Research
Michael Phillips - Oppenheimer
Gregory Peters - Raymond James
Andrew Anderson - Jefferies
Scott Heleniak - RBC
Operator
Good morning, and welcome to the RLI Corp's Third Quarter Earnings Teleconference. [Operator Instructions]
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 and 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 will now turn the conference over to RLI's Chief Investment Officer and Treasurer, Mr. Aaron Diefenthaler. Please go ahead.
Aaron Diefenthaler
Thank you, Adam. Good morning, everyone. Thank you for joining RLI's third quarter earnings call for 2024.
Joining us are Craig Kliethermes, President and CEO; Jen Klobnak, Chief Operating Officer; Todd Bryant, Chief Financial Officer.
Today's agenda will include Craig opening up the call with some high-level remarks. Todd will add detail on our financial results for the quarter. Jen will offer some additional commentary on market conditions in our product portfolio. The operator will then open the line for questions, and Craig will close with some final thoughts.
Craig?