Employers (US:EIG) Globenewswire·2025-05-01 20:15Core Viewpoint - Employers Holdings, Inc. reported its financial results for the first quarter of 2025, highlighting a flat performance in net premiums earned compared to the previous year, driven by higher renewal premiums but lower new business and audit premiums [3][7]. Financial Highlights - Gross premiums written increased by 1% to $212.1 million from $210.9 million [7][29]. - Net premiums earned decreased by 1% to $183.0 million from $184.9 million [7][29]. - Net income per diluted share decreased by 53% to $0.52 from $1.11, while adjusted net income per diluted share increased by 30% to $0.87 from $0.67 [8][29]. - Net investment income rose by 20% to $32.1 million from $26.8 million, primarily due to returns from investments in limited partnerships [5][11]. - The company returned $27.5 million to stockholders through share repurchases and dividends [6][8]. Management Commentary - The CEO noted that the company is focusing on refining its underwriting and pricing approach to maintain discipline while aiming for moderate new business growth [3]. - The company ended the period with a record number of policies in-force, up 4% year-over-year [3]. Loss Ratios and Expenses - The current accident year loss and LAE ratio on voluntary business was reported at 66.0%, slightly above the 64.0% maintained throughout 2024 [4][9]. - The commission expense ratio improved to 12.6% from 13.6% a year ago, while the underwriting expense ratio decreased to 23.4% from 25.0% [5][10]. Shareholder Returns - The regular quarterly dividend was raised to $0.32 per share, reflecting a 7% increase [6][14]. - A new $125.0 million share repurchase plan was authorized after the previous plan was exhausted [6][16]. Book Value and Equity - Book value per share including the deferred gain increased by 12.3% year-over-year to $48.25 [13][50]. - Adjusted book value per share rose by 8.5% year-over-year to $50.75 [13][50].