Financial Data and Key Metrics Changes - The net premium earned was relatively flat compared to 2024, driven by higher renewal premiums offset by lower new business and audit premiums [6][10] - Gross premiums written increased by 1% to $212 million, while net premiums earned decreased by 1% to $183 million [9][10] - The current accident year loss and LAE ratio on voluntary business increased to 66% from 64% in 2024 [7][10] - Net investment income rose by 20% to $32 million, the highest in the company's history as a publicly traded entity [7][12] - Quarterly net income was $12.8 million, impacted by $9 million of net after-tax unrealized investment losses [12] - Adjusted net income increased by 24% to $21.3 million from $17.2 million a year ago [13] Business Line Data and Key Metrics Changes - The underwriting expense ratio improved to 23.4% from 25% a year ago, attributed to reductions in bad debt and compensation-related expenses [8][11] - Commission expense decreased to $23 million from $25 million, with a commission expense ratio of 12.6% compared to 13.6% [11] Market Data and Key Metrics Changes - The company ended the period with a record number of policies in force, achieving a year-over-year growth rate of 4% [7] - The overall selection of the current accident year loss ratio of 66% is below the industry average, which has been in the range of 69% to 70% in recent years [24] Company Strategy and Development Direction - The company continues to prioritize profitability over growth, refining its underwriting and pricing approach to maintain discipline while returning to moderate new business growth levels [15] - The appetite expansion effort is ongoing, identifying areas for profitable growth [15] - The company is monitoring potential impacts from tariff discussions and the cost of prescription drugs and medical services [15] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the ability to maintain a strong customer base amid potential recessionary headwinds, citing deep relationships with customers and agents [15] - The company has not experienced negative impacts from macroeconomic conditions but is closely monitoring the situation [15] Other Important Information - The Board of Directors authorized a new stock repurchase program for up to $125 million over a 20-month period [13] - A 7% increase in the quarterly dividend to $0.32 per share was declared, payable on May 28 [14] Q&A Session Summary Question: Can you discuss specifics regarding loss trends and the competitive rate environment? - Management noted the increase in the accident year GLOF and LAE ratio from 64% to 66% is due to competitive rate pressures and a rise in cumulative trauma claims in California [22][24] Question: What about underlying medical inflation and treatment costs? - Management indicated that lost time claim frequencies are generally trending downward, with some variations by state, and overall severity values have held steady [26] Question: Are there macroeconomic contributions to cumulative trauma claims? - Management stated that there is no identifiable macroeconomic cause for the increase in cumulative trauma claims, which are primarily a California phenomenon [30] Question: What are the expectations for the NCCI's state of the line report? - Management anticipates that reserve redundancies in the industry are still significant but may be reducing less, with internal rates showing flat year-over-year results [35]

Employers Holdings (EIG) came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 26.09%. A quarter ago, it was expected that this provider of workers-compensation insurance would post earnings of $1.08 per share when it actually produced earnings of $1.15, delivering a surprise of 6.48%.Over ...

E x h i b i t 9 9 . 2 E m p l o y e r s H o l d i n g s , I n c . F i r s t Q u a r t e r 2 0 2 5 F i n a n c i a l S up p l e m e n t EMPLOYERS HOLDINGS, INC. Table of Contents Page | 1 | Consolidated Financial Highlights | | --- | --- | | 2 | Summary Consolidated Balance Sheets | | 3 | Summary Consolidated Income Statements | | 4 | Return on Equity | | 5 | Combined Ratios | | 6 | Roll-forward of Unpaid Losses and LAE | | 7 | Consolidated Investment Portfolio | | 8 | Book Value Per Share | | 9 | Earnings P ...

Company to Host Conference Call on Friday, May 2, 2025, at 11:00 a.m. Eastern Daylight TimeRENO, Nev., May 01, 2025 (GLOBE NEWSWIRE) -- Employers Holdings, Inc. (the “Company”) (NYSE:EIG), a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services focused on small and mid-sized businesses engaged in low-to-medium hazard industries, today reported financial results for its first quarter ended March 31, 2025. Financial Highlights:(All comparisons vs. the f ...

Recognition Highlights Mercury's Commitment to Team Members Growth and Company CultureLOS ANGELES, April 16, 2025 /PRNewswire/ -- Mercury Insurance has been awarded a spot on the Forbes list of America's Best Midsized Employers for 2025. This prestigious recognition is made in collaboration with Forbes and Statista, the world-leading statistics portal and industry ranking provider.Forbes and Statista selected America's Best Midsized Employers 2025 through an independent survey from a vast sample of over 217 ...

RENO, Nev., April 03, 2025 (GLOBE NEWSWIRE) -- Employers Holdings, Inc. (the “Company”) (NYSE:EIG) today announced that it will release its first quarter 2025 financial results after market close on Thursday, May 1, 2025, after which these materials will be available on the Company’s website at www.employers.com through the “Investors” link. Conference Call DetailsThe Company will then review these financial results via a conference call and webcast on Friday, May 2, 2025, at 11:00 a.m. EDT / 8:00 a.m. PDT. ...

Core Viewpoint - 1st Source Bank has been recognized as one of America's Best Midsize Employers for the fourth consecutive year, highlighting its strong employee satisfaction and workplace culture [1][2]. Company Overview - 1st Source Corporation, the parent company of 1st Source Bank, has total assets of $8.9 billion and is the largest locally controlled financial institution in the northern Indiana-southwestern Michigan area [3]. - The corporation operates 77 banking centers, 18 specialty finance group locations, nine trust and wealth advisory services locations, 10 insurance offices, and three loan production offices [3]. Employee Recognition - The recognition comes from Forbes, which partnered with Statista to survey over 217,000 employees at U.S. companies with more than 1,000 employees, assessing factors such as salary, work environment, training programs, and advancement opportunities [1][2]. - 1st Source Bank ranked 276 out of 498 midsize companies on the list, indicating a solid position among its peers [1]. Commitment to Culture - The Chief Human Resources Officer emphasized the bank's commitment to creating an engaging work environment that supports personal and professional growth, which has contributed to the positive employee ratings [2].

RENO, Nev., March 03, 2025 (GLOBE NEWSWIRE) -- Employers Holdings, Inc. (NYSE: EIG), today announced the appointment of Marvin Pestcoe to the Board of Directors, effective March 3, 2025. “We are very excited to welcome Marvin Pestcoe to the Employers Holdings, Inc. Board,” said Katherine H. Antonello, President and Chief Executive Officer of Employers Holdings, Inc. “Marvin brings a wealth of knowledge and expertise with over 40 years of experience in insurance, reinsurance and investments, including a rang ...

Financial Performance - In 2024, the company reported net premiums written of $769.5 million, an increase from $760.6 million in 2023 and $707.2 million in 2022[48]. - Total revenues for 2024 were $880.7 million, compared to $850.9 million in 2023 and $713.5 million in 2022[48]. - The company achieved a net income of $118.6 million in 2024, slightly up from $118.1 million in 2023 and significantly higher than $48.4 million in 2022[48]. - New business premiums written in 2024 were $227.5 million, up from $201.9 million in 2023 and $167.7 million in 2022[38]. - Renewal premiums in 2024 reached $559.6 million, compared to $526.7 million in 2023 and $483.2 million in 2022[38]. - The company experienced net investment income of $107.0 million in 2024, compared to $106.5 million in 2023 and $89.8 million in 2022[43]. - The company ended 2024 with total assets of $3.5 billion, down from $3.6 billion in 2023[47]. Underwriting and Premiums - Total in-force premiums increased from $622.5 million in 2022 to $742.1 million in 2024, representing a growth of 19.2%[68]. - The number of policies in-force rose by 7.8% from 121,356 in 2022 to 130,767 in 2024[68]. - In-force premiums in California reached $336.1 million in 2024, up from $279.7 million in 2022, indicating a significant increase[69]. - The company targets small to mid-sized businesses in low-to-medium hazard industries, focusing on risks likely to generate loss ratios below the industry average[67]. - The average annual in-force premium per policyholder increased from $5,495 in 2023 to $5,675 in 2024[72]. Operational Efficiency - The integration of direct-to-consumer operations into mainstream operations is expected to generate cost savings and improve efficiency[61]. - The company has implemented a new digital first notice of loss tool and an enhanced payment processing system in 2024 to improve operational efficiency[63]. - The claims department utilizes a predictive model for early identification of claims likely to develop into large losses, ensuring timely resource allocation[59]. - The company actively investigates and pursues fraud, including claimant and provider fraud, to mitigate claims exposure[58]. - The company maintains business continuity and disaster recovery plans to ensure critical functions are restored in case of disruptions[64]. Investment and Reinsurance - The total carrying value of the company's investment portfolio was more than $2.4 billion as of December 31, 2024[93]. - Approximately $190.0 million in excess of $10.0 million retention on a per occurrence basis is covered under the current reinsurance program, effective from July 1, 2024 to July 1, 2025[79]. - Estimated remaining liabilities subject to the Loss Portfolio Transfer (LPT) Agreement were approximately $277.1 million and $291.7 million as of December 31, 2024 and 2023, respectively[83]. - The LPT Agreement ceded $1.5 billion in liabilities for incurred but unpaid losses for consideration of $775.0 million in cash[83]. Distribution and Market Concentration - Specialty agents and distribution partners generated 34.7% of in-force premiums as of December 31, 2024, up from 30.7% in 2022[101]. - ADP, the largest payroll services provider in the U.S., generated 17.2% of in-force premiums as of December 31, 2024, compared to 15.0% in 2022[102]. - Digital agents contributed 7.0% of in-force premiums as of December 31, 2024, an increase from 4.5% in 2022[103]. - The company had approximately 2,500 traditional insurance agencies marketing its products as of December 31, 2024, generating 65.3% of in-force premiums[98]. - The company generated 45% of its in-force premiums from California as of December 31, 2024, indicating a significant concentration in that state[134]. Regulatory and Competitive Environment - The property and casualty insurance industry is cyclical, with current excess underwriting capacity leading to lower rate levels and smaller profit margins[132]. - The company faces intense competition in the workers' compensation insurance market, which could adversely affect its ability to sell policies at adequate rates[129]. - The company is subject to various state insurance assessments, which are accrued as liabilities and recognized as expenses as related premiums are earned[117]. - The company must comply with state insurance regulations, which require prior approval for changes in control and significant transactions involving its subsidiaries[112]. - Regulatory changes could significantly impact the company’s operations, particularly in key states like California, Florida, Nevada, and New York[164]. Risk Management - The company is exposed to risks from acts of terrorism and natural disasters, which could materially affect financial results and operations[159]. - Recent geopolitical uncertainties have indirectly impacted the value of the company’s investment portfolio, with potential future effects[163]. - The company faces credit risk from reinsurers, which could adversely affect financial condition if they fail to pay ceded losses[144]. - The company’s loss and LAE reserves are estimates and may be inadequate, with potential adjustments impacting financial results[153]. - Cybersecurity threats pose significant risks, with potential disruptions to operations and loss of sensitive data impacting reputation and financial condition[186]. - The company maintains insurance for certain liabilities, but coverage may not be adequate for potential losses from disruptions or security breaches[189]. Capital Management - The company maintains a strong equity capital position, having declared $150.7 million in dividends and repurchased $149.2 million of its common stock over the past three years[35]. - The company has declared and paid quarterly cash dividends since becoming publicly traded in 2007, with expectations to continue this practice in the future[210]. - The company repurchased a total of 193,857 shares of its common stock during the quarter ended December 31, 2024, at an average price of $51.20 per share[211]. - The company has a stock repurchase authorization of up to $100 million, extended through July 31, 2025[211]. - The company may require additional capital in the future, which could be unavailable or only available on unfavorable terms, potentially impacting growth and operations[182]. Workforce and Diversity - The company has improved female representation in leadership roles, with women making up 64% of all employees, 72% of managers, and 71% of the executive team[122]. - The Chief Information Security Officer (CISO) has over 30 years of experience in technology and cybersecurity, enhancing the company's risk management capabilities[202]. - The company relies heavily on key executives and employees for industry expertise and relationships, and losing these individuals could disrupt operations and financial performance[183]. Real Estate and Operations - The company has reduced its real estate footprint by closing and vacating certain offices in California, Missouri, Nevada, North Carolina, and Wisconsin since 2021[202]. - As of February 1, 2025, the company leased a total of 50,152 square feet of office space across four states, including its corporate headquarters in Reno, Nevada[202].

Core Viewpoint - Employers Holdings, Inc. (EIG) reported mixed fourth-quarter 2024 results, with a 4.3% increase in shares following the announcement, driven by a record number of policies in force and improved investment yields, although profitability was pressured by elevated expenses and a slight decline in premiums written [1] Financial Performance - Adjusted earnings per share (EPS) for Q4 were $1.15, exceeding the Zacks Consensus Estimate by 6.5%, but down 17.9% year over year [2] - Operating revenues totaled $217 million, a 4% decline year over year, missing the consensus estimate by 2.1% [2] - Gross premiums written decreased by 1% year over year to $176.3 million, while net premiums written also fell by 1% to $174.7 million [3] - Net premiums earned increased by 1% year over year to $190.2 million, but fell short of the Zacks Consensus Estimate of $193.5 million [3] - Net investment income rose by 2% year over year to $26.7 million, although it was below the consensus mark of $27.6 million [4] - Total expenses increased by 8.6% year over year to $181.9 million, with losses and loss adjustment expenses rising by 22% year over year [5] - Pre-tax income dropped by 40.4% year over year to $34.7 million [5] Operational Metrics - The number of policies in force reached a record 130,767, up 3.4% year over year [6] - The GAAP combined ratio was 95.5%, worsening by 740 basis points year over year but better than the Zacks Consensus Estimate of 96.3% [6] - The underwriting and general administrative expense ratio improved by 140 basis points year over year to 23.2% [6] Balance Sheet and Capital Deployment - As of December 31, 2024, EIG had investments, cash, and cash equivalents of $2.5 billion, a 1.1% increase from the end of 2023 [7] - Total assets decreased by 0.3% to $3.5 billion, while total stockholders' equity rose by 5.4% to $1.1 billion [7] - Adjusted book value per share increased by 7% year over year to $50.71 [7] - In 2024, EIG repurchased shares worth $41.7 million and paid dividends totaling $30 million [8] - A quarterly dividend of 30 cents per share was announced for Q1 2025, payable on March 19, 2025 [8] Full-Year Overview - For the full year 2024, adjusted EPS decreased by 2.6% year over year to $3.73, while total revenues grew by 3.5% to $880.7 million [9] - Gross premiums written increased by 1.1% year over year to $776.3 million, and net premiums written rose by 1% to $769.5 million [9] - Net premiums earned advanced by 4% year over year to $749.5 million, with net investment income remaining relatively flat at $107 million [9] - Adjusted net income declined by 8% year over year to $94 million [9] - The combined ratio for the year was 97.9%, deteriorating by 290 basis points year over year [10]