RLI trims cat reinsurance by $150m at Jan renewal in ‘buyer’s market’

RLI Insurance Company reduced its catastrophe reinsurance limit by $150 million for 2026 at the January renewals, citing lower exposure and continued soft conditions, which it described as a “buyer’s market” for property.Jen Klobnak, Chief Operating Officer of RLI Corp., said the firm renewed roughly two-thirds of its annual reinsurance spend at January 1, achieving 15%–20% rate reductions on its catastrophe program and more modest pricing relief on its property working layers.Klobnak observed, “With our re ...