8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 6, 2010

RLI Corp.

(Exact name of registrant as specified in its charter)

Illinois	001-09463	37-0889946
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

9025 North Lindbergh Drive, Peoria, IL	61615
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (309) 692-1000

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01  Other Events.

On May 6, 2010, RLI Corp. announced that its Board of Directors (“Board”) approved a quarterly dividend on its common stock of $0.29 per share.  The dividend is payable on July 15, 2010, to shareholders of record as of June 30, 2010.  The Board also adopted a new stock repurchase program for up to $100 million of RLI common stock.  Furnished as Exhibit 99.1 and incorporated herein by reference is the press release issued by RLI Corp.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press Release dated May 6, 2010.
	This Exhibit is furnished pursuant to Item 8.01 hereof and should not be deemed to be “filed” under the Securities Exchange Act of 1934.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	RLI CORP.
Date: May 6, 2010	By:	/s/ Daniel O. Kennedy
	Daniel O. Kennedy
	Vice President and General Counsel

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EXHIBIT INDEX

Exhibit No.	Exhibit
99.1	Press Release dated May 6, 2010
	This Exhibit is furnished pursuant to Item 8.01 hereof and should not bedeemed to be “filed” under the Securities Exchange Act of 1934.

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EX-99.1

Exhibit 99.1

	NEWS RELEASE
RLI Corp.	9025 N. Lindbergh Drive  |  Peoria, IL 61615-1431
	P: 309-692-1000  |  F: 309-692-1068  |  www.rlicorp.com

FOR IMMEDIATE RELEASE	CONTACT: John Robison
	(309) 693-5846
	John.Robison@rlicorp.com
	www.rlicorp.com

RLI increases dividend, announces plans to buy back stock

PEORIA, ILLINOIS, May 6, 2010, RLI Corp. (NYSE:RLI) — The RLI Corp. board of directors has declared a second quarter cash dividend of $0.29 per share, a 4% increase over the prior quarter.  The dividend is payable on July 15, 2010, to shareholders of record as of June 30, 2010.

RLI has paid dividends for 136 consecutive quarters and increased dividends in each of the last 35 years.

The company’s dividend yield would be 2.04%, based on the $1.16 indicated annual dividend and yesterday’s closing stock price of $56.89.

In another action, the board adopted a new stock repurchase program for up to $100 million of RLI common stock. The stock repurchase program will be conducted on an ongoing basis and will be subject to availability of stock, market conditions, the trading price of the stock and the company’s financial performance.

RLI President & CEO Jonathan E. Michael said, “Our dividend and capital management decisions are made to maximize shareholder returns while maintaining sufficient capital to support existing business and future opportunities.”

RLI is a specialty insurance company serving “niche” or underserved markets. With a diverse portfolio of property and casualty coverages and surety bonds, it has achieved an underwriting profit in 29 of the last 33 years, including the last 14. RLI and 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 operates in all 50 states from office locations across the country.

For additional information, contact RLI Treasurer & Chief Investment Officer John Robison at (309) 693-5846 or at john.robison@rlicorp.com or visit our website at www.rlicorp.com.

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