RLI Corp. announced that it has created a new Property Treaty Group within its RLI Re Division to expand its capabilities in the reinsurance marketplace. The new group will offer customized assumed property reinsurance solutions to a select group of regional and super regional insurance companies.
"We are pleased to expand the capabilities of our successful reinsurance division," said Michael Stone, RLI Insurance Company President & COO. "We believe it will add balance and scope to our existing operations." The new RLI Re Property Treaty Group, a broker market reinsurer, will work exclusively with reinsurance intermediaries, and provide per risk, quota share and catastrophe coverages. The group is based in Stamford, Connecticut and will be led by George Dragonetti, SVP, RLI Re.
Mr. Dragonetti joins RLI with 20 years of experience in the treaty reinsurance industry as both an underwriter and broker. Prior to joining RLI Re, Mr.
Dragonetti was General Manager for Lexington Bermuda and held senior underwriting positions with La Salle Re, Endurance Group, and F&G Re. He was also a treaty broker for Benfield Group.
RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets.
RLI operates in all 50 states from office locations across the country. RLI's insurance subsidiaries -- RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company -- are rated A+ "Superior" by A.M. Best Company and A+ "Strong" by Standard & Poor's. RLI is recognized as one of the insurance industry's top performing companies by the Ward's 50(R) Top P&C Performers and has been a member of the group for 20 straight years since its inception in 1991.