Wolfe starts ‘best-in-class underwriter’ RLI Corp. with an Outperform

As previously reported, Wolfe Research analyst Bill Carcache initiated coverage of RLI Corp. with an Outperform rating and $182 price target RLI generates among the highest risk-adjusted returns in the specialty insurance space, says the analyst, who expects RLI to leverage its best-in-class underwriting capabilities to sustain its peer leading combined ratio and mid-teens operating returns.