Agents Forum
May 6, 2009
Reno, NV—May 6, 2009
Key Highlights
Diversified direct written premium
California 40%, Florida 10%, Wisconsin 9%, Nevada 6%
Continued favorable prior accident year development of $13.5 million
Portfolio fair market value increased 2% from December 31, 2008 to $2.1 billion at March 31, 2009
Generated book value per share growth of 5% from $17.43 at December 31, 2008 to $18.26 at March 31, 2009
Employers Holdings, Inc. (“EHI” or the “Company”) (NYSE:EIG) today reported first quarter 2009 net income of $20.9 million or $0.43 per share compared with $25.5 million or $0.51 per share in the first quarter of 2008, a decrease of $4.6 million or $0.08 per share. Net income includes amortization of the deferred reinsurance gain related to the Loss Portfolio Transfer (“LPT”) Agreement. Consolidated net income before the impact of the LPT (the Company’s non-GAAP measure described below) was $16.5 million or $0.34 per share in the first quarter of 2009 compared with $20.7 million or $0.42 per share in the first quarter of 2008.
Read Complete Release --> EARNINGS_Q1_2009_Release.pdf (160.82 kb)
About Employers Holdings, Inc.
Employers Holdings, Inc. (NYSE: EIG) is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select, small and medium-sized businesses engaged in low to medium hazard industries. The company, through its subsidiaries, operates in 30 states. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Employers Preferred Insurance Company and Employers Assurance Company are also known as AmCOMP Preferred Insurance Company and AmCOMP Assurance Corporation, respectively. Additional information can be found at: http://www.employers.com.
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CONTACT:
Media – Ty Vukelich, Vice President, Corporate Marketing, (775) 327-2677
Analysts – Vicki Erickson, Vice President, Investor Relations, (775) 327-2794
