The RLI Story

INVESTMENT PORTFOLIO Investing for the long term: A diversified, highly-rated bond portfolio complemented by active and passive equities. TARGET ASSET ALLOCATION 80% BONDS PORTFOLIO ALLOCATION (as of 3/31/2023) Other Invested Assets 1.9% Agency 2.2% Equities 15.1% 20% Cash 4.1% EQUITIES BONDS: AA-quality; 4.4 duration EQUITIES: ETFs and active large-cap; dividend yield of 2.2% Emphasis on consistency of income and low turnover, not market timing RLI 18 Municipal 16.0% $3.42 Billion Investment Portfolio Corporate 31.6% Govt 11.4% ABS/CMBS 7.2% Mortgage Backed 10.5%

View entire presentation