RLI Corp.

Please refer to the risk factors described in the company's various SEC filings, including in the annual reports on Form 10-K, as supplemented in Forms 10-Q, all of which should be reviewed carefully. The company has filed a Form 8-K with the Securities and Exchange Commission that contains the press release announcing fourth quarter results. During the call, RLI management may refer to operating earnings and earnings per share from operations, which are non-GAAP measures for financial results. RLI's operating earnings and earnings per share from operations consist of net earnings after the elimination of after-tax realized gains or losses and after-tax unrealized gains or losses on equity securities. RLI's management believes these measures are useful in gauging core operating performance across reporting periods that may not be comparable to other companies' definitions of operating earnings. The Form 8K contains a reconciliation between operating earnings and net earnings. The form 8K and press release are available at the company's website at www.rlicorp.com. I will now turn the conference over to RLI's Chief Investment Officer and Treasurer, Mr. Aaron DeSantala. Please go ahead.

Thank you, Adam. Good morning, and welcome to RLI's third quarter earnings call for 2025. Thanks for joining us as we head into this home stretch of the year. We've got our usual lineup on deck, Craig Clefarmis, President and CEO, Jen Klovnoff, Chief Operating Officer, and Todd Bryant, Chief Financial Officer. Here's the game plan for today's call. Craig will kick things off with big picture perspectives, Todd will run down our financial results, and Jen will follow with commentary on market dynamics and our product portfolio. After our prepared remarks, We'll open the line for questions, and Craig will close with some final thoughts. With that, let's get started. Craig?

Thank you, Aaron, and good morning, everyone. We appreciate all that are participating in the call and look forward to your questions once Todd and Jen have had an opportunity to give you an overview of our results. We are pleased with our third quarter results, which include an 85 combined ratio with underwriting profitability across all segments, Book value per share has grown 26% year to date, inclusive of dividends on an 84 combined ratio and double-digit growth in net investment income, resulting in a 20% plus return on equity. The top line continues to be relatively flat, largely due to changing conditions in the commercial property catastrophe market over the last several years and the significant softening that is now occurring. While this presents a headwind to current growth, We look at it as a reflection of our willingness to grow when the market is in our favor and dedication to our hallmark discipline in softening markets. We still have good underlying growth within most of our very diversified niche product portfolio, despite the reset in the property catastrophe market. A significant amount of that growth is being driven by rate increases in our cash businesses. The industry continues to face a complex environment marked by increased market volatility, political uncertainty, alternative and inexperienced capital providers entering new spaces and persistent legal system abuse. However, disruption creates opportunities for those with a steady hand and a deep expertise to navigate a rapidly evolving landscape. Vigilance, underwriting discipline and adaptability are critical to long-term success. At RLI, We value being a stable market to our customers and consistency of financial results overtaking outsized tail risks. We also know we must keep investing in the best information placed at the fingertips of our expert underwriters and claim specialists at the time of decision-making to continue to outperform. This is ingrained in our unique ownership culture, and it is what we will continue to focus on as we have for the last 60 years. With that, I'll turn it over to Todd, who will provide some detail on our financial results.