Keefe, Bruyette & Woods analyst Meyer Shields has maintained an Outperform rating on RLI while raising the price target to $70. The previous target was $67. The rating and target adjustment reflect the firm's updated outlook on the insurer's performance.

Rating and Target Details

The decision by Keefe, Bruyette & Woods underscores confidence in RLI's market position. The revised price target suggests potential upside from current trading levels.

RLI trades on the NYSE under the ticker symbol RLI.

RLI Corp. today announced the launch of its Entertainment & Amusement insurance product, expanding its portfolio to serve a broad range of businesses including amusement parks, family entertainment centers, fairs, festivals, and mobile amusements. The new offering provides property and casualty coverage on a non-admitted basis across all 50 states, reinforcing the company's strategy to target specialized markets through deep underwriting expertise and strong distribution relationships.

To lead the new business unit, RLI appointed Kym Tormey as Vice President, Entertainment & Amusement. Tormey brings more than 35 years of insurance industry experience, including nine years specifically leading specialty entertainment and amusement insurance programs. Her previous leadership roles include positions at AXA XL, XL Group, Arch Insurance Group, and Royal & Sun Alliance.

Jen Klobnak, Chief Operating Officer, stated that the launch reflects RLI's continued focus on identifying opportunities in niche markets. She emphasized that Tormey's extensive industry experience and proven leadership will help the company deliver tailored solutions to meet the evolving needs of the entertainment and amusement marketplace.

Key Appointments

RLI's products are offered through its insurance subsidiaries: RLI Insurance Company, Mt. Hawley Insurance Company, and Contractors Bonding and Insurance Company. All of RLI's subsidiaries are rated A++ "Superior" by AM Best Company.