RLI
#Good morning.
<UNK>, this is <UNK> <UNK>.
Obviously without a cat, the margins look pretty good.
If you looked at it on expected basis for a catastrophe business, certainly you would expect the loss ratio and expected loss ratio to go up over time.
In our marine business, as I talked about before, we actually still are getting some rate that's holding up pretty close to what we think loss cost trends are.
And RV is more of a getting our underwriting right, so we're seeing some improvement there and we're getting significant rate increase in that space.
So overall, you would see things moving in different directions, I think.
Cat obviously on an expected basis margins would be thinning, but if you don't have a cat, it still looks pretty good.
Marine holding steady and RV improving, which is most of it.
Then you have the loss of crop, which is booked at a fairly high loss ratio and deservingly so.
And that's ---+ obviously, that mix change has improved overall margins and results and loss ratio.
This is <UNK> <UNK>, Chris.
We're always looking at opportunities, for opportunities, and we'll continue to do that.
But obviously, we're not going to make any announcements here or in the near future that we can see.
We consistent constantly look for M&A opportunities as we have in the past and we'll continue to do that in the future.
Thank you.
Yes, another good quarter.
Thanks for joining us.
We had 81 combined for the quarter, modest growth, written gross premiums but 5% net written premium growth and our book value's up to $20.36.
There have been headwinds this past two or three years, but we've really persevered, been able to get through this storm and our underwriters have just delivered solid results quarter-after-quarter and we're pleased with this quarter's results.
I too would like to thank <UNK> <UNK> for nearly 20 years at RLI.
I think <UNK> would tell you, what he would point to that, as he does about every morning to me, that ever since he's been at RLI, RLI's been below 100 combined every year.
<UNK>, thanks to you and we'll miss the multi-syllable words, but I think <UNK> will do just a terrific job in your stead.
<UNK> will still be around.
We hope to keep him around for a while.
He's going to continue as a Board member and we'll probably find some other things for him to do.
Thanks again and we'll talk to you next quarter.
