The RLI Story

RLI'S BUSINESS MODEL RLI is a domestic, specialty insurance company that does its own underwriting. • • • Underwriting Company Ownership Culture & Compensation Diversified Insurance Product Portfolio Growth by Design We hire experienced, entrepreneurial underwriters We focus on difficult markets that require unique expertise Strong feedback loop between underwriting and claims • Underwriting leadership compensation is tied to underwriting profit 91% Institutions & other public investors ■9% Insiders & Employee Stock Ownership Plan ("ESOP") • Our products are run like stand-alone businesses • Organic product growth • Diversification reduces corporate risk Many products are convenient and tailored to fill a void in the market • Talent acquisition & start-ups • Select balance sheet acquisitions RLI 10

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