“I am honored to have been a part of the vision and growth of this great company for so many years,” said Stone. “Craig has been preparing to succeed me for several years and I have the utmost confidence in his ability… to effectively lead our organization into the future.”
Stone has been with RLI since 1996, serving as president and COO since 2002.
Kliethermes joined RLI in 2006 as vice president of actuarial services and was promoted to senior vice president of risk services in 2009 and to executive vice president of operations in 2013. “Craig’s industry experience, demonstrated leadership and deep understanding of RLI’s business make him uniquely qualified to step into this role,” said Jonathan E Michael, chairman and CEO. “I’m confident that our insurance operations will continue to thrive under his sound leadership.”
The company name, RLI, dates to the 1960s, when the company was founded as Replacement Lens, Inc., one of the first companies to specifically insure contact lenses. Today the company is known for its commercial umbrella lines and other excess and surplus lines, which are available nationwide through RLI, Mt. Hawley Insurance Company, RLI Indemnity Company and Contractor’s Bonding and Insurance Company.
RLI Insurance Company has announced that President and COO Michael J Stone will retire at the end of the year. He will continue to serve on the board of directors. Craig Kliethermes, executive vice president of operations will assume the role of president and COO effective Jan. 1, 2016.