EMPLOYERS HOLDINGS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Nevada 04-3850065 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____ Co ...

Shares of Employers Holdings, Inc. (EIG) have risen 3.9% since it reported better-than-expected fourth-quarter 2023 results on Feb 15. The quarterly results were aided by sound growth in premiums written, robust audit premium recognition and favorable underwriting results. A slight year-over-year increase in overall expenses partly negated the results.EIG reported fourth-quarter adjusted earnings per share (EPS) of $1.40, which surpassed the Zacks Consensus Estimate by 40%. The bottom line improved 12% year ...

Financial Data and Key Metrics Changes - Net investment income increased by 19% in 2023, contributing positively to revenue [4] - Gross premiums written were $178 million for Q4 and $768 million for the full year, representing increases of 3% and 7% respectively [6] - Net premiums earned were $188 million for Q4 and $722 million for 2023, with increases of 4% and 7% respectively [6] - Adjusted net income increased by 5% for Q4 and 26% for the full year, with stronger increases on a per share basis [31] - Income tax expense for the full year was $30 million, reflecting a 20% effective tax rate compared to $7 million and a 13% effective tax rate a year ago [8] Business Line Data and Key Metrics Changes - Excluding final audit premium and changes in audit accrual, gross written premium increased by 12% for both the full year and Q4 [14] - The loss and LAE ratios, excluding the impact of LPT, were 50.2% for Q4 and 57.2% for the full year, showing meaningful improvements from the previous year [32] Market Data and Key Metrics Changes - The company achieved a 20% increase in new business and a 9% increase in renewal business in 2023 [14] - The company reported an all-time high in terms of policies in force, which is expected to benefit future performance [15] Company Strategy and Development Direction - The company completed the integration of Cerity's operations, allowing for continued direct-to-consumer policies and expected fixed underwriting expense savings [20] - Plans for 2024 include delivering more self-service options to policyholders and agents, as well as continuing appetite expansion efforts [21] - The company aims to focus on the future of small business workers' compensation and enhancing customer experience [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong capital position supporting growth and technology initiatives for the upcoming year [21] - Medical inflation has remained mild, with no significant indications of creeping costs within the company's data [26][41] Other Important Information - The company returned $107 million to shareholders through share repurchases and dividends in 2023 [35] - The company repurchased $15.4 million of common stock at an average price of $38.40 per share during the quarter [19] Q&A Session Summary Question: Update on strategic partnerships and commission structures - Management confirmed that changes in commission structures with payroll partners have been fully reflected in financials, and growth across all segments remains strong [25] Question: Insights on medical inflation and its potential delayed impact - Management acknowledged that medical inflation has been mild and indicated that they have already accounted for potential increases in reserves [26][41]

For the quarter ended December 2023, Employers Holdings (EIG) reported revenue of $225.7 million, up 1.8% over the same period last year. EPS came in at $1.40, compared to $1.25 in the year-ago quarter.The reported revenue represents a surprise of +5.83% over the Zacks Consensus Estimate of $213.27 million. With the consensus EPS estimate being $1.00, the EPS surprise was +40.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to dete ...

Employers Holdings (EIG) came out with quarterly earnings of $1.40 per share, beating the Zacks Consensus Estimate of $1 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this provider of workers-compensation insurance would post earnings of $0.64 per share when it actually produced earnings of $0.68, delivering a surprise of 6.25%.Over the la ...

HENDERSON, Nev., Feb. 15, 2024 (GLOBE NEWSWIRE) -- Employers Holdings, Inc., (NYSE:EIG) today announced the appointment of Steve Sorenson to the Board of Directors, effective March 1, 2024. "We are very excited to welcome Steve Sorenson to the Employers Holdings, Inc. Board," said Katherine H. Antonello, President and Chief Executive Officer of Employers Holdings, Inc. "Steve brings a wealth of knowledge and expertise in areas including transformational leadership, insurance operations, and insurance produc ...

Employers Holdings, Inc. (EIG) is set to report its fourth-quarter 2023 results on Feb 15, after the closing bell. It is expected to have witnessed increased net premiums earned and lower net investment income in the December quarter.Earnings Surprise HistoryEmployers Holdings’ earnings beat the consensus estimate in all the prior four quarters, with the average being 26.5%. This is depicted in the graph below:In the last reported quarter, the workers' compensation insurance provider reported adjusted opera ...

Analysts on Wall Street project that Employers Holdings (EIG) will announce quarterly earnings of $1 per share in its forthcoming report, representing a decline of 20% year over year. Revenues are projected to reach $213.27 million, declining 3.9% from the same quarter last year.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Before a company ...

RENO, Nev., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Employers Holdings, Inc. (the "Company") (NYSE:EIG) today announced that it will release its fourth quarter and full-year 2023 financial results after market close on Thursday, February 15, 2024, after which these materials will be available on the Company's website at www.employers.com through the "Investors" link. Conference Call DetailsThe Company will then review these financial results via a conference call and webcast on Friday, February 16, 2024, at 11:00 ...

Financial Data and Key Metrics Changes - Gross premiums written increased to $196 million, up 4% from $189 million a year ago, primarily due to higher new and renewal business writings [8] - Net premiums earned rose to $185 million, a 3% increase from $179 million in the previous year [8] - Net investment income increased by 9% to $26 million, driven by higher market interest rates impacting bond yields [30] - Net income was negatively impacted by $6 million of net after-tax unrealized losses from equity securities and $26 million from fixed maturity securities [10] Business Line Data and Key Metrics Changes - The Employers segment reported pretax income of $21 million, down from $26 million a year ago, with a combined ratio of 98% [9] - The Cerity segment experienced a pretax loss of $2 million, consistent with the previous year [9] - The average policy size increased from approximately $5,200 to $5,500 over the past year, attributed to economic growth and higher employment levels [20] Market Data and Key Metrics Changes - The company reported strong audit pickups totaling $7.4 million in Q3, compared to $12.5 million in the same quarter of 2022 [16] - New business written premiums reached $115 million, with about $40 million coming from appetite expansion classes [36] Company Strategy and Development Direction - The company is focused on integrating Cerity's operations to enhance efficiency and reduce redundant systems [12] - There is an ongoing effort to expand underwriting appetite, with a committee formed to explore new class codes for 2024 [36] - The company aims to reduce total underwriting expenses as a percentage of earned premiums in 2024 [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position to benefit from favorable trends in the small business workers' compensation sector [13] - The internal drug cost index for in-network pharmacy costs has been decreasing since 2019, with a slight uptick in 2023, but remains lower than pre-pandemic levels [46] Other Important Information - The company repurchased 367,209 shares at an average price of $38.95 per share, with a remaining share repurchase authorization of $36 million [31] - A quarterly dividend of $0.28 per share was declared, payable on November 22 [31] Q&A Session Summary Question: What is the outlook for premium growth excluding audit adjustments? - Management indicated that gross written premium increased about 12% in Q3 2023 relative to Q3 2022, maintaining double-digit growth when excluding audit adjustments [35] Question: What is the average policy size for the new business? - The average policy size has increased due to both economic growth and appetite expansion efforts [20] Question: When is the consolidation of Cerity expected to be completed? - The consolidation is expected to be largely completed in 2024, with benefits anticipated from an expense standpoint [40]