RLI CLUSTER SEC Filing Analysis

Latest settled — T+5d ⚠ clustered

RLI ▲ +2.53% at T+5d

LONG call ✓ call won +2.53% · α vs SPY +5.50% · entry $50.96 → $52.25

Next anchor: T+20d in 13d

Currently $54.05 · +6.06% from $50.96 entry

Entry anchored
Jun 1, 2026
via day open

T+1d

-1.73%

call -1.73% · α -1.01%

$50.08

settled 15d ago

T+5d

+2.53%

call +2.53% · α +5.50%

$52.25

settled 9d ago

T+20d

—

call — · α —

—

in 13d

T+60d

—

call — · α —

—

in 2mo

Price Chart

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Executive Summary

Four RLI insiders, including the CEO and COO, made open-market purchases totaling $492K over a 5-day window in late May/early June 2026. The purchases represent ~0.011% of RLI's $4.6B market cap, a trivial amount per the proportionality check, but the insider cluster buys are academically among the strongest signals when C-suite executives participate.

Key Financial Metrics

Direction

buying

Total Value

$492.1K

Insiders

4

Actionable Insight

The CEO, COO, and two directors buying simultaneously — even in small size — is a rare bullish cluster signal per the insider-buying literature (Cohen/Malloy/Pomorski). The historical calibration for this filing type shows an average net alpha of -1.04% at T+20, so keep position sizing modest. No immediate catalyst is apparent from this filing alone; monitor upcoming quarterly earnings for fundamental confirmation.

Key Facts

CEO Craig W. Kliethermes bought 2,000 shares at $52.00 ($104K) on 2026-05-27
COO Jennifer L. Klobnak bought 2,000 shares at $52.72 ($105K) on 2026-05-27
Director David B. Duclos bought 2,500 shares at $51.99 ($130K) on 2026-05-28
Director Clark C. Kellogg bought 3,000 shares at $50.90 ($153K) on 2026-06-01
Total cluster value: $492K — ~0.011% of RLI's $4.6B market cap
No recent insider sales were filed in the cluster window
Prior 30d insider activity: 6 buys totaling $859K, reinforcing a sustained buying pattern

Financial Impact

Insiders deployed $492K of personal capital; trivial relative to $4.6B market cap but notable as a coordinated C-suite + director cluster buy

Risk Factors

Dollar amount is tiny at 0.011% of market cap — could be routine portfolio rebalancing
Historical win rate on past RLI calls is only 40% at T+20 with negative net alpha
Insurance sector faces competitive pricing pressure and catastrophe loss uncertainty

Market Snapshot

Exchange

NYSE

Sector

Fire, Marine & Casualty Insurance

Analyst Consensus

31% bullish (13 analysts)

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

Document	Accession Number
CLUSTER Data (Synthetic)	cluster-RLI-1780345967162

6 reports for RLI

T+1T+5T+20T+60

100% Hit rate 3 of 3 directional calls best @ T+20▲ +8.96%May 14, 2026

Filters

Reports for RLI — sortable, filterable
	Type				Now
Jun 1, 2026 15d ago	Insider Cluster BULLISH ★ 5/10	$50.96 $52.25	▲ +2.53%	▲ +5.50%	$54.05 (+6.06%)
May 29, 2026 18d ago	Insider Cluster BULLISH ★ 5/10	$50.63 $52.38	▲ +3.46%	▲ +6.21%	$54.05 (+6.75%)
May 14, 2026 4w ago	8-K BULLISH ★ 5/10	$49.88 $53.01	▲ +6.28%	▲ +6.99%	$54.05 (+8.36%)
Apr 28, 2026 7w ago	8-K MIXED ★ 5/10	$48.98 $46.94	▼ −4.18%	▼ −7.29%	$54.05 (+10.34%)
Apr 22, 2026 7w ago	8-K BEARISH ★ 7/10	$54.94 $51.15	▲ +6.90%	▲ +8.38%	$54.05 (+1.62%)
Mar 26, 2026 11w ago	DEFA14A NEUTRAL ★ 3/10	$56.32 $58.03	▲ +3.04%	▼ −0.83%	$54.05 (−4.03%)

US Market Status

Market Closed — Opens in 5h 21m

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