Welcome to our dedicated page for Employers Holdings news (Ticker: EIG), a resource for investors and traders seeking the latest updates and insights on Employers Holdings stock.
Employers Holdings, Inc. (EIG) is a prominent provider of workers' compensation insurance and services tailored specifically for small businesses across America. With a rich history dating back to 1913, Employers Holdings has built a solid reputation through its experience, financial stability, and deep understanding of the insurance needs of independent, entrepreneurial companies.
The company operates exclusively in the United States, offering insurance through various subsidiaries such as Employers Compensation Insurance Company, Employers Insurance Company of Nevada, Employers Preferred Insurance Company, and Employers Assurance Company. With a significant presence in California, Employers Holdings generates more than half of its business from this state.
Employers Holdings focuses on low- to medium-hazard industries, with substantial exposure to sectors like restaurants, which account for approximately a fourth of the total premiums earned. The company's operations are streamlined under a single reportable segment known as Insurance Operations.
Recent achievements include a notable association between Simply Business, LLC, a digital insurance company, and Cerity, a subsidiary of Employers Holdings. This collaboration aims to provide small business owners with a seamless online experience to obtain workers' compensation insurance. Through this digital-first approach, business owners can easily receive quotes, bind policies online, and connect with licensed insurance agents to ensure their coverage meets specific business needs.
Employers Holdings is committed to leveraging technology to improve customer experience, as demonstrated by Cerity's proprietary pricing model, which can deliver tailored quotes within seconds and new policies in under five minutes. This innovation helps small business owners protect their teams, assets, and livelihoods efficiently, allowing them to focus on growth and operations.
With its registered trademarks, Employers® and America's small business insurance specialist®, the company continues to solidify its position as a leader in the workers' compensation insurance industry. Despite its broad reach, not all insurers under Employers Holdings do business in all jurisdictions, further emphasizing the company's tailored approach to meeting the diverse needs of small businesses.
Employers Holdings (NYSE:EIG) reported strong Q3 2024 financial results with notable increases in net income per diluted share, rising 124% to $1.21. The company achieved record policies in-force of 129,879, up 3% year-over-year, despite an 8% decrease in gross premiums written to $181.2 million.
Key highlights include a 1% increase in net premiums earned to $186.6 million, a 3% rise in net investment income to $26.6 million, and an improved underwriting and general administrative expense ratio of 23.2%. The company maintained a GAAP combined ratio of 100.4% and declared a quarterly dividend of $0.30 per share.
The company's book value per share including deferred gain increased 24% year-over-year to $47.99, reflecting strong operating results and effective portfolio management.
Employers Holdings, Inc. (NYSE: EIG), a leading workers' compensation insurance provider, has announced the appointment of Michael Pedraja as its new Executive Vice President and Chief Financial Officer. Pedraja will join the company on February 3, 2025, and fully assume the CFO role around March 31, 2025, succeeding the retiring Michael Paquette.
With over 30 years of experience in corporate financial services and insurance-related roles, Pedraja most recently served as Group CFO for Ariel Re Services. His career includes positions at The Allstate , Aon Securities, Barclays, and Credit Suisse. CEO Katherine Antonello expressed confidence in Pedraja's ability to drive strategic goals and optimize financial operations.
Pedraja will lead the financial and investor relations functions, contributing to EMPLOYERS' position as America's small business insurance specialist. The company, operating through various subsidiaries, focuses on providing workers' compensation insurance to small and mid-sized businesses in low-to-medium hazard industries across the United States.
Employers Holdings, Inc. (NYSE:EIG) has announced the schedule for its third quarter 2024 financial results release and conference call. The company will release its financial results after market close on Wednesday, October 30, 2024. These materials will be available on the company's website at www.employers.com through the 'Investors' link.
A conference call and webcast to review the financial results will be held on Thursday, October 31, 2024, at 11:00 a.m. EDT / 8:00 a.m. PDT. To participate in the live conference call, registration is required. The webcast will be accessible on the company's website, and an archived version will be available following the live call.
Employers Holdings, Inc. is a holding company specializing in workers' compensation insurance for small and select businesses in low-to-medium hazard industries across the United States.
Dyad, a leading insurance software provider, has announced that EMPLOYERS, a specialty workers' compensation insurer, is now connected to Dyad's ACE-HUB via API. This integration allows Dyad's customers immediate access to EMPLOYERS' Workers' Compensation products through the ACE-HUB platform.
ACE-HUB is Dyad's proprietary, cloud-based solution that serves as a single connection point for multi-carrier data exchange, linking carrier markets to distribution channels via API. The platform supports quoting, binding, issuance, and downloads, with over 40 markets currently connected.
Both companies expressed satisfaction with the successful integration, highlighting the project's efficiency and the expanded access to Workers' Compensation products for Dyad's customers.
Employers Holdings, Inc. (NYSE:EIG) reported its Q2 2024 financial results, showing a mixed performance. Key highlights include:
- Net income per diluted share of $1.25, down from $1.30 in Q2 2023
- Gross premiums written increased 5% to $207.9 million
- Net premiums earned rose 6% to $187.8 million
- GAAP combined ratio of 94.2% (95.4% excluding LPT), up from 90.4% (91.5% excluding LPT)
- Underwriting and general and administrative expense ratio improved to 22.0% from 26.0%
- Record number of ending policies in-force at 128,522, up 3% year-over-year
The company declared a regular quarterly dividend of $0.30 per share and continued its share repurchase program, buying back 461,789 shares at an average price of $41.53 per share during Q2 2024.
Simply Business, a leading digital insurance broker for small businesses, has partnered with EMPLOYERS, a major workers' compensation insurance provider. This collaboration expands Simply Business' ability to digitally quote and bind workers' compensation policies for over 300 small business types across eligible states.
The partnership aims to address the challenges small businesses face in obtaining required workers' compensation coverage, often due to lack of knowledge or high costs. Simply Business focuses on offering tailored and affordable solutions for small business owners.
This expansion adds to Simply Business' diverse panel of nationally recognized workers' compensation providers, including its recent strategic collaboration with Cerity Insurance announced in 2023.
Employers Holdings, Inc. (NYSE:EIG) will release its second quarter 2024 financial results on Wednesday, July 31, 2024, after market close. These results will be accessible on the Company’s website under the 'Investors' section. The company will host a conference call and webcast to discuss the results on Thursday, August 1, 2024, at 11:00 a.m. EDT / 8:00 a.m. PDT. Interested participants need to register beforehand to receive dial-in details and a unique PIN. The webcast and an archived version will be available on the Company’s website. Employers Holdings, Inc. specializes in workers' compensation insurance for small and medium-risk businesses across the United States, excluding four states served by state funds. Their subsidiaries, including Employers Insurance Company of Nevada and Employers Compensation Insurance Company, are rated A- (Excellent) by A.M. Best.
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