Employers Insurance Group’s Financial Outlook Raised
June 15, 2006 — Insurance rating bureau A.M. Best has raised the financial outlook of Employers Insurance Group’s financial strength rating from “stable” to “positive,” and affirmed the A- (Excellent) rating of the group of workers’ compensation insurance companies.
“The rating for Employers Insurance Group reflects the group’s superior risk-adjusted capitalization, strong operating profitability, conservative reserving history and good market profile,” according to formal notice from A.M. Best, the world’s oldest and most authoritative insurance rating and information source.
According to A.M. Best, the rating action follows improvement in operating performance and capitalization of Employers Insurance Company of Nevada and Employers Compensation Insurance Company, both companies of Employers Insurance Group.
The rating takes into account growth in statutory surplus to $530 million, and Employers Insurance Group’s increased market share. The group of companies includes California’s 8th largest workers’ compensation writer, and the largest writer of workers’ compensation in Nevada, where Employers Insurance Group maintains its corporate headquarters.
Chief Executive Officer Douglas D. Dirks said, “All of us at Employers Insurance Group recognize our strong relationships with producers and our other strategic partners. We will continue our underwriting discipline while serving the many small to medium-sized businesses which appreciate the ease of doing business with our group of companies.”
Best’s Ratings, an overview of the rating process and rating methodologies, and the latest ratings, can be accessed at www.ambest.com.