A.M. Best Affirms Ratings of Employers Holdings, Inc. and Its Subsidiaries and Revises Outlook to Stable
RENO, Nev.—(BUSINESS WIRE)—Feb. 1, 2017—Employers Holdings, Inc. (NYSE:EIG) (EMPLOYERS®) today announced insurance rating bureau A.M. Best has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Employers Insurance Group and its four pooled property/casualty operating subsidiaries, Employers Insurance Company of Nevada(EICN) (Nevada), Employers Compensation Insurance Company(ECIC) (California), Employers Preferred Insurance Company (EPIC) and Employers Assurance Company(EAC) (both of Florida). Additionally, A.M. Best revised the outlook to stable from negative. Concurrently, A.M. Best has affirmed the ICR of “bbb-” of EMPLOYERS parent holding company, Employers Holdings, Inc.
The affirmation of the ratings and the revision upward of the outlook reflects EMPLOYERS excellent risk-adjusted capitalization, rapidly improving operating earnings, and significant market expertise operating as a workers’ compensation writer. EMPLOYERS also benefits from the financial flexibility afforded by its publicly traded parent, Employers Holdings, Inc.(EHI). Improved underwriting margins in recent years reflect the improved pricing flexibility through the use of multiple writing companies within a state, combined with ongoing underwriting initiatives, which has allowed management to focus on underperforming classes of business as needed.
“Given the supportive capitalization of our consolidated group, strict underwriting guidelines and consistent underwriting strategy, we are pleased that A.M. Best has again recognized EMPLOYERS strong operating performance and market expertise by maintaining our A- (Excellent) rating,” said Douglas Dirks, President and CEO of EMPLOYERS.
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About Employers Holdings, Inc.
EMPLOYERS® and America’s small business insurance specialist® are registered trademarks of EIG Services, Inc. Employers Holdings, Inc. is a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services focused on select, small businesses engaged in low-to-medium hazard industries. The Company operates throughout the United States, with the exception of 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 the A.M. Best Company. Not all companies do business in all jurisdictions. See www.employers.com and www.cerity.com for coverage availability.