Employers Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Employers Holdings, Inc. reported $2.05M in revenue and $58.06M in assets for FY2023.</b>

AI Summary

Employers Holdings, Inc. (EIG) filed a Annual Report (10-K) with the SEC on February 26, 2024. Total revenues for the fiscal year ended December 31, 2023, were $2,048,000. Net premiums earned were $2,366,700 for the fiscal year ended December 31, 2023. Total assets as of December 31, 2023, amounted to $58,055,968. Total liabilities as of December 31, 2023, were $32,686,215. The company reported earnings per share of $0.01 for the fiscal year ended December 31, 2023.

Why It Matters

For investors and stakeholders tracking Employers Holdings, Inc., this filing contains several important signals. The 10-K filing provides a comprehensive overview of the company's financial performance and position for the fiscal year 2023, including detailed financial statements and risk factors. Investors can use this filing to assess the company's profitability, solvency, and growth prospects, as well as understand potential risks that may impact future performance.

Risk Assessment

Risk Level: medium — Employers Holdings, Inc. shows moderate risk based on this filing. The company operates in the insurance industry, which is subject to significant regulatory oversight and market fluctuations that can impact financial results.

Analyst Insight

Monitor the company's net premiums earned and underwriting results for trends in its core insurance business.

Financial Highlights

revenue

2048000

total Assets

58055968

total Debt

32686215

eps

0.01

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• $2,048,000 — Total Revenues (Fiscal Year 2023)
• $2,366,700 — Net Premiums Earned (Fiscal Year 2023)
• $58,055,968 — Total Assets (As of December 31, 2023)
• $32,686,215 — Total Liabilities (As of December 31, 2023)
• 0.01 — Earnings Per Share (Fiscal Year 2023)

Key Players & Entities

• Employers Holdings, Inc. (company) — Filer
• NV (location) — State of Incorporation
• 20231231 (date) — Conformed Period of Report
• 20240226 (date) — Filed as of Date
• $2,048,000 (dollar_amount) — Total revenues
• $2,366,700 (dollar_amount) — Net premiums earned
• $58,055,968 (dollar_amount) — Total assets
• $32,686,215 (dollar_amount) — Total liabilities

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of reporting period for the 10-K filing.
• 2024-02-26: Filing Date — Date the 10-K report was officially filed with the SEC.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share EIG New York Stock
• $22.7 m — ses) from those invested assets totaled $22.7 million, $(51.8) million and $54.6 millio
• $54.6 m — aled $22.7 million, $(51.8) million and $54.6 million, respectively. Our investment po
• $149.4 million — od ended December 31, 2023, we declared $149.4 million of dividends on our common stock and el
• $149.7 million — ligible plan awards, and we repurchased $149.7 million of our common stock. Any future returns
• $201.9 million — business premiums written in 2023 were $201.9 million versus $167.7 million in 2022 and $145.
• $167.7 million — tten in 2023 were $201.9 million versus $167.7 million in 2022 and $145.2 million in 2021, whi
• $145.2 million — llion versus $167.7 million in 2022 and $145.2 million in 2021, while our renewal premiums in
• $526.7 million — while our renewal premiums in 2023 were $526.7 million versus $483.2 million in 2022 and $449.
• $483.2 million — iums in 2023 were $526.7 million versus $483.2 million in 2022 and $449.5 million in 2021. We
• $449.5 million — llion versus $483.2 million in 2022 and $449.5 million in 2021. We ended the year with a reco

Filing Documents

• eig-20231231.htm (10-K) — 2971KB
• exhibit211_2023.htm (EX-21.1) — 6KB
• exhibit231_2023.htm (EX-23.1) — 2KB
• eig-ex311_2023.htm (EX-31.1) — 9KB
• eig-ex312_2023.htm (EX-31.2) — 9KB
• eig-ex321_2023.htm (EX-32.1) — 5KB
• eig-ex322_2023.htm (EX-32.2) — 5KB
• exhibit971_2023.htm (EX-97.1) — 29KB
• eig-20231231_g1.jpg (GRAPHIC) — 118KB
• 0001379041-24-000042.txt (&nbsp;) — 16393KB
• eig-20231231.xsd (EX-101.SCH) — 88KB
• eig-20231231_cal.xml (EX-101.CAL) — 104KB
• eig-20231231_def.xml (EX-101.DEF) — 638KB
• eig-20231231_lab.xml (EX-101.LAB) — 1273KB
• eig-20231231_pre.xml (EX-101.PRE) — 879KB
• eig-20231231_htm.xml (XML) — 2936KB

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS 3 NOTE REGARDING RELIANCE ON STATEMENTS IN OUR CONTRACTS 3 PART 1

Risk Factors

Item 1A Risk Factors 17

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 26 Item 1C Cybersecurity 26

Properties

Item 2 Properties 27

Legal Proceedings

Item 3 Legal Proceedings 27

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 28 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 29

Management's Discussion and Analysis of Consolidated Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Consolidated Financial Condition and Results of Operations 31

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 48

Financial Statements and Supplementary Data

Item 8 Financial Statements and Supplementary Data 50

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 91

Controls and Procedures

Item 9A Controls and Procedures 91

Other Information

Item 9B Other Information 91

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 91 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 92

Executive Compensation

Item 11 Executive Compensation 93

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 93

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 94

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 94 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 95

Form 10-K Summary

Item 16 Form 10-K Summary 102

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Unless otherwise indicated, all references to "we," "us," "our," the "Company" or similar terms refer to Employers Holdings, Inc., together with its subsidiaries. In this Annual Report on Form 10-K, the Company and its management discuss and make statements based on currently available information regarding their intentions, beliefs, current expectations, and projections of, among other things, the Company's future performance, economic or market conditions, including the evolving nature of the Coronavirus (COVID-19) pandemic, current levels of inflation, changes in interest rates, labor market expectations, catastrophic events or geo-political conditions, legislative or regulatory actions or court decisions, business growth, retention rates, loss costs, claim trends and the impact of key business initiatives, future technologies and planned investments. Certain of these statements may constitute "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and are often identified by words such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "target," "project," "intend," "believe," "estimate," "predict," "potential," "pro forma," "seek," "likely," or "continue," or other comparable terminology and their negatives. The Company and its management caution investors that such forward-looking statements are not guarantees of future performance. Risks and uncertainties are inherent in the Company's future performance. Factors that could cause the Company's actual results to differ materially from those indicated by such forward-looking statements include, among other things, those discussed or identified from time to time in the Company's public filings with the Securities and Exchange Commission (SEC), including the risks detailed in Item 1A, "Ri

Business

Item 1. Business General Employers Holdings, Inc. (EHI) is a holding company, which was incorporated in Nevada in 2005, with subsidiaries that are specialty providers of workers' compensation insurance and services focused on small and select businesses engaged in low-to-medium hazard industries. We operate throughout the United States (U.S.), with the exception of four states that are served exclusively by their state funds. We offer insurance through Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC), Employers Assurance Company (EAC) and Cerity Insurance Company (CIC), each of which has been assigned an A.M. Best Company (A.M. Best) financial strength rating of "A-" (Excellent), with a "positive" outlook, which is the 4 th highest of 13 A.M. Best ratings. Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, amendments to those reports, and Proxy Statements for our Annual Meetings of Stockholders are available free of charge on our website at www.employers.com as soon as reasonably practicable after they are electronically filed with or furnished to the SEC. Our website also provides access to reports filed by our directors, executive officers and certain significant stockholders pursuant to Section 16 of the Securities Exchange Act of 1934 (Exchange Act). In addition, our Corporate Governance Guidelines, Code of Business Conduct and Ethics, Code of Ethics for Senior Financial Officers, and charters for the Audit, Board Governance and Nominating, Executive, Finance, Human Capital Management and Compensation, and Risk Management, Technology and Innovation committees of our Board of Directors (Board) are available on our website. Information in, or that can be accessed through, our website is not incorporated by reference into this Annual Report on Form 10-K. Copies of these documents may also be obtained free of charge by written req

View Full Filing

View this 10-K filing on SEC EDGAR