Employers Holdings, Inc. receives upgraded ratings from AM Best, reaffirming its financial strength and operational excellence.
Quiver AI Summary
Employers Holdings, Inc. announced that AM Best has upgraded the Financial Strength Rating of its insurance companies from A- to A (Excellent) and their Long-Term Issuer Credit Ratings from "a-" to "a". The company's own Long-Term Issuer Credit Rating was also upgraded from "bbb-" to "bbb". The outlook for all ratings has been revised to stable from positive. CEO Katherine Antonello highlighted the company's commitment to financial strength and operational excellence, emphasizing disciplined underwriting and risk management as key factors for this upgrade. AM Best cited Employers' strongest balance sheet strength, consistent underwriting profitability, and effective risk management strategies as reasons for the upgrades. Employers focuses on providing workers' compensation insurance to small and mid-sized businesses in low to medium hazard industries.
Potential Positives
- AM Best has upgraded the Financial Strength Rating (FSR) and Long-Term Issuer Credit Ratings (Long-Term ICR) of Employers Holdings, Inc. and its insurance subsidiaries, signaling improved financial health and stability.
- The upgrades reflect Employers' strong balance sheet strength, consistent underwriting profitability, and a strategic focus on disciplined underwriting and risk management, enhancing the company's reputation in the workers' compensation insurance market.
- The stable outlook from AM Best suggests confidence in Employers' ongoing operational excellence and business strategy, which is pivotal for attracting investors and customers alike.
Potential Negatives
- The credit rating outlook was revised to stable from positive, which may indicate a slowdown in expected improvements in financial strength or performance.
- While the upgrade in ratings reflects better financial standing, it could also highlight the company's previous lower ratings, suggesting past concerns about its financial health.
- The emphasis on limited business profile could imply a lack of diversification, which may expose the company to greater risk in economic downturns or industry-specific challenges.
FAQ
What recent rating upgrades did Employers Holdings, Inc. receive?
Employers Holdings, Inc. received upgraded Financial Strength Ratings to A (Excellent) and Long-Term Issuer Credit Ratings to “a” (Excellent) from AM Best.
What factors contributed to the rating upgrades for Employers?
The upgrades were driven by Employers’ balance sheet strength, strong operating performance, and effective enterprise risk management strategies.
Who is the CEO of Employers Holdings, Inc.?
Katherine Antonello is the President and CEO of Employers Holdings, Inc.
What industries does Employers primarily serve?
Employers primarily serves small and mid-sized businesses in low to medium hazard industries.
How does Employers ensure reliable coverage for businesses?
Employers focuses on disciplined underwriting, prudent risk management, and strategic investments to provide high-quality workers' compensation insurance.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EIG Insider Trading Activity
$EIG insiders have traded $EIG stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $EIG stock by insiders over the last 6 months:
- CHRISTINA M. OZUNA (Chief Claims Officer) sold 1,000 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EIG Hedge Fund Activity
We have seen 85 institutional investors add shares of $EIG stock to their portfolio, and 85 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
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- AMERICAN CENTURY COMPANIES INC added 57,588 shares (+12.6%) to their portfolio in Q3 2024
- TEACHER RETIREMENT SYSTEM OF TEXAS added 56,927 shares (+66.4%) to their portfolio in Q3 2024
- MORGAN STANLEY added 56,389 shares (+22.7%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
RENO, Nev., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Employers Holdings, Inc. (NYSE:EIG), a leading provider of workers’ compensation insurance, is pleased to announce that AM Best has upgraded the Financial Strength Rating (FSR) of each of its insurance companies to A (Excellent) from A- (Excellent) and their Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent). Concurrently, AM Best has upgraded the Long-Term ICR of Employers Holdings, Inc. to “bbb” (Good) from “bbb-” (Good). The outlook of each of these credit ratings has also been revised to stable from positive.
“This upgrade reflects our unwavering commitment to financial strength and operational excellence," said Katherine Antonello, President and CEO of Employers Holdings, Inc. "Our focus on disciplined underwriting, prudent risk management, and strategic investments has positioned us strongly in the workers' compensation insurance market. This reinforces our ability to provide reliable, trusted, high-quality coverage to small businesses across the nation.”
According to a news release from AM Best
, the rating upgrades are driven by Employers' balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, limited business profile, and appropriate enterprise risk management. AM Best also noted Employers' consistent underwriting profitability and improved underwriting margins, resulting from its multi-focus, multi-year strategy emphasizing adequate pricing, proper risk selection, expedient claims handling, and conservative investing.
As a leading provider of workers' compensation insurance, Employers remains dedicated to serving small and mid-sized business policyholders in low to medium hazard industries. For more information about Employers and its subsidiaries, please visit
www.employers.com
.
AM Best is the world's oldest and most authoritative insurance rating information source. For the latest ratings, visit
www.ambest.com
.
About EMPLOYERS
Employers Holdings, Inc.
(NYSE: EIG), is a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services (collectively “EMPLOYERS
®
”) focused on small and mid-sized businesses engaged in low-to-medium hazard industries. EMPLOYERS leverages over a century of experience to deliver comprehensive coverage solutions that meet the unique needs of its customers. Drawing from its long history and extensive knowledge, EMPLOYERS empowers businesses by protecting their most valuable asset – their employees – through exceptional claims management, loss control, and risk management services, creating safer work environments.
EMPLOYERS is also proud to offer Cerity
®
, which is focused on providing digital-first, direct-to-consumer workers’ compensation insurance solutions with fast, and affordable coverage options through a user-friendly online platform.
EMPLOYERS operates throughout the United States, apart from four states that are served exclusively by their state funds. Insurance is offered through Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, Employers Assurance Company, and Cerity Insurance Company, all rated A (Excellent) by A.M. Best. Not all companies do business in all jurisdictions. EIG Services, Inc., and Cerity Services, Inc., are subsidiaries of Employers Holdings, Inc. EMPLOYERS
®
is a registered trademark of EIG Services, Inc., and Cerity
®
is a registered trademark of Cerity Services, Inc. For more information, please visit www.employers.com and www.cerity.com.
Media Contact:
Kimberly Eye
Vice President, Marketing & Communications
keye@employers.com
Investor Relations Contact:
Michael Paquette
Executive Vice President, Chief Financial Officer
mpaquette@employers.com
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