Employers Holdings, Inc. Reports Fourth Quarter 2024 and Full-Year Financial Results; Declares Quarterly Cash Dividend of $0.30 per Share

Core Insights - Employers Holdings, Inc. reported record financial results for the fourth quarter and full year 2024, achieving the highest levels of written and earned premium, in-force premium, policies, and net investment income in the company's history [2][3]. Financial Performance - Full-year 2024 net income was $118.6 million ($4.71 per diluted share), compared to $118.1 million ($4.45 per diluted share) in 2023, reflecting a slight increase [4]. - Adjusted net income for 2024 was $94.0 million ($3.73 per diluted share), down from $101.7 million ($3.83 per diluted share) in 2023 [4]. - Gross premiums written for the fourth quarter were $176.3 million, a decrease of 1$178.2 million in the same quarter of 2023 [8]. - Net premiums earned increased by 1% to $190.2 million in the fourth quarter compared to$187.5 million in the previous year [8]. - The company recognized $24.1 million of after-tax unrealized gains from common stocks and other investments [3]. Loss Ratios and Underwriting - The current accident year loss and LAE ratio on voluntary business was 64.0$26.7 million, an increase of 2% from $26.2 million in the previous year [12]. - The company reported total assets of$3,541.3 million as of December 31, 2024, compared to $3,550.4 million at the end of 2023 [34]. Shareholder Returns - The company returned$71.7 million to shareholders through share repurchases and dividends in 2024 [4]. - A first-quarter dividend of $0.30 per share was declared, payable on March 19, 2025 [17]. Operational Efficiency - Total underwriting expenses decreased by 5$68.6 million, primarily due to lower IT expenses from the Cerity integration [10]. - The company continues to focus on expanding its appetite, increasing self-service options, and enhancing operational efficiencies for 2025 [6]. Market Position - Employers Holdings, Inc. operates as a specialty provider of workers' compensation insurance, primarily targeting small and mid-sized businesses in low-to-medium hazard industries [24]. - The company has received an upgrade to its AM Best Financial Strength Rating to "A" (Excellent), indicating strong market positioning [5].