Peoria, Ill.-based RLI Corp. says Craig W. Kliethermes, current RLI Insurance Co. president and chief operating officer, will succeed Jonathan E. Michael as RLI’s chief executive officer, upon Michael’s retirement at the end of 2021.
Michael has announced that he will retire as CEO, effective Dec. 31, 2021, a position he has held since 2001. He has served as chairman of the board since 2011 and will remain in that capacity after stepping down as CEO.
Kliethermes’ appointment as CEO begins Jan. 1, 2022. He will join the board of directors at that time.
Kliethermes had previously served as senior vice president, Risk Services, since 2013. Kliethermes joined RLI in 2006 and has 35 years of industry experience. Prior to joining RLI, he served in leadership roles with Lockton Companies, GE Insurance/Employers Reinsurance and John Deere Insurance Company.
RLI Corp. is a national specialty insurer serving niche property, casualty and surety markets. nationwide. RLI’s products are offered through its insurance subsidiaries RLI Insurance Co., Mt. Hawley Insurance Co. and Contractors Bonding and Insurance Co.
AM Best recently affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” of the members of RLI Group (RLI).
In addition, AM Best has affirmed the Long-Term ICR of “a” of RLI’s publicly traded parent holding company, RLI Corp. AM Best also has affirmed the Long-Term Issue Credit Rating of “a” on $150 million 4.875% senior unsecured notes due 2023 of RLI Corp.
The outlook of these ratings is stable.
Source: RLI, AM Best
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