RLI founder passes away
Gerald Stephens, the founder of US specialty insurer RLI, has passed away at the age of 86.
“All of us at RLI are deeply saddened by the loss of our founder and friend,” said RLI chairman & CEO Jonathan Michael. “Jerry was a visionary leader whose passion for the specialty insurance business was inspirational to the thousands of employees, insurance producers, business partners and community partners his life touched during his more than 50 years in the insurance industry. He was also a dedicated philanthropist who cared deeply about his community.”
Stephens founded RLI, a Peoria-based specialty insurance company, and served as company president for 39 years before retiring in 2011 as chairman of the board.
Under Stephens’ leadership, RLI evolved from a contact lens insurer and expanded into property, casualty and surety markets, specializing in covering difficult insurance risks typically avoided by larger multi-line insurers at the time. Currently, RLI offers specialty insurance and surety products and has nearly 40 branch office locations throughout the US.
“Jerry built RLI on the foundation of great people, products and service,” Michael said. “We will honour his legacy by ensuring these core tenets remain a strong part of our business model. We send our deepest condolences to his wife, Helen, and their entire family.”
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