RLI Corp. shareholders elect board, affirm executive pay

PEORIA, IL – RLI Corp . (NYSE:RLI), a specialty insurance company with a market capitalization of $7 billion and a solid dividend yield of 3.49%, announced the results of its annual shareholder meeting held on May 13, 2025, in a filing with the Securities and Exchange Commission today. According to InvestingPro analysis, RLI maintains a GOOD financial health score and has consistently paid dividends for 50 consecutive years, demonstrating strong corporate governance.

At the meeting, shareholders voted on three key proposals, including the election of directors, advisory approval of executive compensation, and the ratification of the company’s independent registered public accounting firm for the fiscal year 2024. InvestingPro data reveals the company’s strong cash flow position and ability to cover interest payments effectively, factors that often influence shareholder confidence. For deeper insights into RLI’s financial health and future prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

The election of board members was confirmed with the following votes: Michael E. Angelina received 78,625,613 for, 831,278 against, and 85,035 abstentions; David B. Duclos garnered 76,737,497 for, 2,721,432 against, and 82,997 abstentions. Other directors elected included Susan S. Fleming, Jordan W. Graham, Clark C. Kellogg, Craig W. Kliethermes, Paul B. Medini, Robert P. Restrepo, Jr., Debbie S. Roberts, and Michael J. Stone, all receiving a majority of votes for their election. There were a total of 5,900,802 broker non-votes for each director nominee.

David B. Duclos was also appointed as Chairman of the Board.

In an advisory vote, the compensation of the company’s named executive officers was approved with 76,465,973 for, 2,955,913 against, and 120,040 abstentions. There were 5,900,802 broker non-votes for this proposal.

Furthermore, Deloitte & Touche LLP was ratified as the company’s independent registered public accounting firm for 2024, receiving an overwhelming majority of votes for their appointment.

The detailed voting results indicate shareholders’ support for the current board’s strategy and leadership, as well as their satisfaction with executive compensation policies.

This report is based on a press release statement and provides a summary of the company’s key decisions as determined by its shareholders.

In other recent news, RLI Corp reported its Q1 2025 earnings, which showed a notable miss on both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.68, falling short of the anticipated $0.87, and revenue came in at $407.66 million, missing the forecasted $499.07 million. Despite these setbacks, RLI Corp announced its 50th consecutive year of dividend increases, raising the quarterly cash dividend by 6.7% to $0.16 per share. This increase underscores the company’s ongoing commitment to returning value to shareholders.

Additionally, RLI Corp highlighted a 5% increase in total gross premiums written year-over-year, with significant growth in its marine and personal umbrella segments, showing premium growth of 10% and 34%, respectively. The company’s operating cash flow also increased by $33 million year-over-year to $103 million, indicating strong cash management despite the earnings miss. Analysts from Wolfe Research and Oppenheimer raised concerns about potential impacts from economic uncertainties, such as tariffs and recession, on RLI’s performance. RLI management emphasized their focus on long-term strategy and consistent market approach, pointing to their strong financial standing and diversified portfolio as key strengths.

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