RENO, Nev., June 6 /PRNewswire-FirstCall/ -- Employers Holdings, Inc. today announced insurance rating bureau A.M. Best has affirmed the financial strength rating (FSR) of A- (Excellent) and assigned issuer credit ratings (ICR) of "a-" to Employers Insurance Group and its two pooled property/casualty operating subsidiaries, Employers Insurance Company of Nevada and Employers Compensation Insurance Company. Concurrently, A.M. Best has assigned an ICR of "bbb-" to Employers Holdings, Inc. The outlook for all ratings is positive.
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"The ratings reflect the group's superior risk-adjusted capitalization, strong operating performance, prudent reserving and strong niche position as a leading workers' compensation carrier focused on small to medium-sized employers. Furthermore, the rating recognizes the improved financial flexibility that resulted from the group's ultimate parent, Employers Holdings Inc., converting to a stock holding company and completing an initial public offering in February 2007," according to formal notice from A.M. Best.
The outlook reflects the expectation that operating performance and capitalization will continue to be sustained at the strong levels reported in recent years.
Chief Executive Officer Douglas D. Dirks said, "All of us at EMPLOYERS are proud of the fact that A.M. Best has affirmed our A- (Excellent) financial strength rating."
A.M. Best's Ratings, an overview of the rating process and rating methodologies, and the latest ratings, can be accessed at http://www.ambest.com/.
This press release includes "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) reflecting the company's expectations regarding future events. These statements are subject to certain risks and uncertainties that may cause actual results to differ from expectations including, without limitation, factors that affect the future performance of Employers Holdings, Inc. These factors are contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2006, and in Form 10-Q for the quarter ended March 31, 2007, filed with the SEC. Employers Holdings, Inc. undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
About EMPLOYERS
Rated A- (Excellent) by A.M. Best for its financial strength, EMPLOYERS is a service mark and trade name for a group of companies which provide workers' compensation insurance and services. Insurance is offered through Employers Compensation Insurance Company, except in Nevada, where insurance is offered through Employers Insurance Company of Nevada. Employers Compensation Insurance Company does not do business in all jurisdictions. Learn more about Employers Insurance Group at http://www.employers.com/
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