Property and casualty insurer RLI Corp. has named Jonathan Michael as president and chief executive of the company, effective Jan. 1. Michael succeeds Gerald Stephens, RLI founder, who was named chairman of the board.
Meanwhile, the RLI board also declared a cash dividend of $.15 per share payable January 12, 2001, to the company’s shareholders of record as of December 29, 2000. This is the 98th consecutive dividend to be paid by RLI since cash dividends began in 1976, and will bring the cumulative return to shareholders to more than $60 million.
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