News Release: A.M. Best Affirms Ratings of Employers Holdings, Inc. and its Subsidiaries
Nov 1, 2010
This following news release was issued by PR Newswire on November 1, 2010:
A.M. Best Affirms Ratings of Employers Holdings, Inc and its Subsidiaries
Employers Holdings, Inc. 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), Employers Compensation Insurance Company (ECIC) (California), Employers Preferred Insurance Company (EPIC) and Employers Assurance Company (EAC) (both of Florida). Concurrently, A.M. Best has affirmed the ICR of “bbb-” of EMPLOYERS’ parent holding company, Employers Holdings, Inc. The outlook for all ratings is stable.
The affirmation of the ratings reflects the solid capitalization of the consolidated group, strong operating performance, management’s market expertise and its disciplined operating strategy. Additionally, the consolidated group’s favorable operating performance reflects its strict underwriting guidelines, conservative investment policy and prudent capital management. EMPLOYERS also benefits from the financial flexibility provided by Employers Holdings, Inc.
“Everyone at EMPLOYERS is proud that A.M. Best has recognized our disciplined operating strategy and market expertise,” said Douglas Dirks, president and CEO of EMPLOYERS. “Given our strong capital position and earnings power, we are pleased to maintain a strong rating of A- from A.M. Best.”
For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology.
About A.M. Best Company
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.
About Employers Holdings, Inc.
Employers Holdings, Inc. (NYSE: EIG) 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, through its subsidiaries, operates coast to coast. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at: http://www.employers.com.
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