The “A+” counterparty credit rating and FSR on RLI Insurance Co. was affirmed by S&P. The rating action also applies to the company’s subsidiary Mt. Hawley Insurance Co. S&P cited RLI’s very strong earnings, strong capitalization, good financial flexibility, and improved product and earnings diversification as key rating factors. Those positive factors were offset by the continued catastrophe exposure, aggressive investment strategy and geographical concentration of the group. Concurrently, the outlook on the companies was revised from stable to negative.
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