Call Start: 11:00 January 1, 0000 11:54 AM ET
RLI Corp. (NYSE:RLI)
Q1 2025 Earnings Conference Call
April 24, 2025 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
Bill Carcache - Wolfe Research
Michael Phillips - Oppenheimer
Gregory Peters - Raymond James
Meyer Shields - KBW
Casey Alexander - Compass Point
Andrew Anderson - Jefferies
Operator
Good morning, and welcome to the RLI Corp. First 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, 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 first 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
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