Jonathan E. Michael has been at the helm of RLI Corp., a major player in the insurance industry, since 1985. At 61, he brings decades of leadership and strategic insight to his role as President and CEO. Under his guidance,...
Jonathan E. Michael has been at the helm of RLI Corp., a major player in the insurance industry, since 1985. At 61, he brings decades of leadership and strategic insight to his role as President and CEO. Under his guidance, RLI achieved impressive financial milestones, including record net earnings of $107.1 million in 2005, which showcased his ability to drive company performance. Michael's compensation in 2020 was $4.71 million, reflecting his pivotal role in the firm’s success, with a notable salary of $775,000 and substantial performance-based bonuses that tied directly to the company's financial results. His wealth is closely tied to RLI’s stock performance, with significant holdings that have fluctuated over the years—from a high of about $182.91 million in February 2024. Michael is known for prioritizing shareholder value and has been instrumental in crafting a long-term compensation strategy aligned with company performance. Interestingly, he has also served on the board of Maui Jim, further illustrating his influence in both the insurance and eyewear industries. However, after nearly four decades, he will retire from the RLI Board at the end of his term in 2024, marking a significant transition for the company.