Present chairman will retire on the conclusion of annual assembly in Could
RLI Corp. has introduced that its chairman of the board, Jonathan E. Michael, will retire on the shut of the 2024 Annual Assembly of Shareholders in Could. In keeping with this, the board has named reinsurance stalwart David B. Duclos to succeed Michael as non-executive chairman.
Duclos, a director since 2017 and the present lead unbiased director, brings 45 years of worldwide reinsurance and insurance coverage trade expertise. His profession highlights embrace serving as CEO of QBE North America and XL Insurance coverage.
The step is in step with the corporate’s established succession plan. Michael, who ended his function as CEO in 2021, has devoted over 40 years to RLI. Below his 20-year management as CEO, RLI notably diversified its product choices and achieved 20 consecutive years of underwriting revenue.
“It has been a privilege to serve alongside RLI’s devoted worker house owners for the previous 41 years,” Michael mentioned. “RLI is a rare firm. I’m grateful to have had the chance to steer the group and work with our visionary founder, Jerry Stephens, throughout my profession. Given the power of our individuals, tradition, and values, I consider the corporate is well-positioned for continued success.”
“Jon’s imaginative and prescient, management and regular steerage have been instrumental in RLI’s progress into a number one specialty insurer. He has had a optimistic and lasting impression on our firm, neighborhood, and our individuals. We’re grateful for his invaluable contributions and want him the easiest on his well-deserved retirement,” RLI Corp. president and CEO Craig Kliethermes mentioned.
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