Employers Insurance Group’s Financial Outlook Raised
June 15, 2006 — Insurance rating bureau A.M. Best has raised the financial outlook of Employers Insurance Group’s financial strength rating from “stable” to “positive,” and affirmed the A- (Excellent) rating of the group of workers’ compensation insurance companies.
“The rating for Employers Insurance Group reflects the group’s superior risk-adjusted capitalization, strong operating profitability, conservative reserving history and good market profile,” according to formal notice from A.M. Best, the world’s oldest and most authoritative insurance rating and information source.
According to A.M. Best, the rating action follows improvement in operating performance and capitalization of Employers Insurance Company of Nevada and Employers Compensation Insurance Company, both companies of Employers Insurance Group.
The rating takes into account growth in statutory surplus to $530 million, and Employers Insurance Group’s increased market share. The group of companies includes California’s 8th largest workers’ compensation writer, and the largest writer of workers’ compensation in Nevada, where Employers Insurance Group maintains its corporate headquarters.
Chief Executive Officer Douglas D. Dirks said, “All of us at Employers Insurance Group recognize our strong relationships with producers and our other strategic partners. We will continue our underwriting discipline while serving the many small to medium-sized businesses which appreciate the ease of doing business with our group of companies.”
Best’s Ratings, an overview of the rating process and rating methodologies, and the latest ratings, can be accessed at www.ambest.com.
Contact Information
Media Contact: Kimberly Eye
Vice President, Marketing & Communications
(702) 671-7391 or keye@employers.com
Investor Relations Contact: Mike Paquette
Executive Vice President, Chief Financial Officer
(775) 327-2562 or mpaquette@employers.com
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 (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.
