Employers Holdings ( (EIG) ) has released its Q3 earnings. Here is a breakdown of the information Employers Holdings presented to its investors.
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Employers Holdings, Inc., a prominent provider of workers’ compensation insurance solutions, primarily caters to small and mid-sized businesses in low-to-medium hazard industries across the United States. The company boasts over a century of expertise, offering comprehensive coverage and exceptional claims management services.
Recently, Employers Holdings announced its financial results for the third quarter of 2024, highlighting a significant increase in net income per diluted share by 124% and a rise in adjusted net income per diluted share by 19%. Despite a decline in gross premiums written by 8%, the company experienced a marginal increase in net premiums earned and a 3% rise in net investment income.
Key financial metrics from the quarter include a GAAP combined ratio of 100.4% and a record number of policies in force at 129,879. The company’s strategic initiatives, including the unwinding of its FHLB leveraged investment strategy, have positively impacted its financial position, leading to an increase in book value per share by 24% year-over-year.
Looking ahead, Employers Holdings remains optimistic about its future operations, supported by a strong balance sheet and abundant underwriting capital. The company’s management continues to focus on proactive investment portfolio management and strategic growth initiatives to enhance shareholder value.
