The following is a summary of the Employers Holdings, Inc. (EIG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Employers Holdings reported an adjusted net income per share of $1.10, marking the highest quarterly result in the last decade.

• Gross written premiums increased by 10% excluding audit adjustments, with notable contributions from all major distribution channels.

• Net premiums earned rose to $188 million, reflecting a 6% increase.

• Underwriting and general administrative expenses decreased sharply to 22%, primarily due to successful integration efforts.

• Net investment income increased slightly due to higher yields on fixed maturity investments.

• The combined ratio improved to 95.4%, excluding the LPT, with the accident year ratio at the lowest since Q4 2018.

Business Progress:

• The company executed a successful integration plan related to Cerity in Q4 2023, significantly reducing operational expenses.

• Employers Holdings continues to settle claims at an accelerated rate to mitigate overall tail risk and generate additional reserve salvage.

• The board declared a quarterly dividend of $0.30 per share, and the company repurchased shares, enhancing shareholder return.

Opportunities:

• Continued growth in new and renewal business premiums supports top-line growth.

Risks:

• The lower audit premium recognition and decreased final audit accrual could impact future revenue growth,

• Financial risks include potential impacts from changes in workers' comp fee schedules and medical inflation.

More details: Employers IR

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