Employers Holdings, Inc., along with its subsidiary companies, primarily operates within the commercial property and casualty insurance industry across the United States. ...
Employers Holdings, Inc. is a specialty property and casualty insurance company focused primarily on workers' compensation coverage for small businesses in the United States. The company operates through subsidiaries under the EMPLOYERS brand and is listed on the New York Stock Exchange under the ticker EIG. Its headquarters are in ...Employers Holdings, Inc. is a specialty property and casualty insurance company focused primarily on workers' compensation coverage for small businesses in the United States. The company operates through subsidiaries under the EMPLOYERS brand and is listed on the New York Stock Exchange under the ticker EIG. Its headquarters are in Reno, Nevada, and the company reported approximately 623 full-time employees in the supplied company data. Katherine Holt Antonello serves as president and chief executive officer.
The company’s core product is workers' compensation insurance, which generally provides benefits for employees who suffer job-related injuries or illnesses and protects employers from associated statutory liabilities. EMPLOYERS concentrates on selected small-business segments, especially industries with low to moderate workplace risk. Its target customers may include businesses that need tailored coverage, underwriting guidance, claims handling, loss-control support, and regulatory assistance but may not have substantial internal insurance or risk-management resources.
Distribution is conducted through independent insurance agents and brokers operating in local, regional, and national markets. The company also uses alternative channels, trade groups, industry associations, and direct customer interactions. This multi-channel model enables EMPLOYERS to reach geographically dispersed small businesses while relying on professional intermediaries for customer acquisition and policy placement. Its service offering extends beyond issuing policies and includes claims administration, policyholder support, workplace safety resources, and other services intended to help customers manage employee-injury risk.
As an insurer, EMPLOYERS does not have a conventional manufacturing bill of materials, or BOM. Its principal operating inputs are underwriting expertise, actuarial models, insurance data, technology systems, claims personnel, customer-service staff, reinsurance capacity, regulatory capital, and distribution relationships. Major cost components typically include claims and loss-adjustment expenses, commissions paid to agents and brokers, employee compensation, technology and administrative expenses, reinsurance costs, and regulatory or compliance spending. Profitability depends on underwriting results, pricing adequacy, claims frequency and severity, reserve development, investment income, and the level of capital required to support insurance obligations.
The supplied market snapshot identified a market capitalization of approximately $1.02 billion, a reported annual dividend of $1.30 per share, and a specialty-insurance industry classification. The same data showed a relatively low debt-to-assets ratio and substantial cash and working-capital measures, although insurer financial metrics should be interpreted carefully because statutory capital, loss reserves, investment portfolios, and insurance liabilities are central to the business model. EMPLOYERS originated from a longer-standing workers' compensation insurance operation, while Employers Holdings, Inc. was established in its current corporate context in 2000 and completed its initial public offering in 2007. Its strategic focus remains serving America's small businesses through specialized workers' compensation products and dependable claims and risk-management services.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$858.2M
-2.6%
+6.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$10.8M
-90.9%
+185.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+32.2%
-12.3%
+17.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+1.4%
-91.6%
+155.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+1.3%
-90.7%
+169.0%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$42.5M
-40.6%
-823.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+5.0%
-39.0%
-781.7%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
4.1%
+935.7%
+0.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.82x
-33.7%
+34812.3%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, and thank you for standing by. Welcome to the Employer Holdings, Inc. Earnings Conference Call. At this time, Q&A session. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 again. Please be advised today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Jeffrey Lisenby, Executive Vice President, General Counsel. Please go ahead.
Jeffrey Lisenby: Thank you, Bonnie. Today's call is being recorded and web from the Investors section of our website. Where a replay will be available following the call. Statements made during this conference call that are not based on historical facts are considered forward looking statements. These statements are made in reliance on the safe harbor provision of the Private Securities Litigation Reform Act of 2 thousand. Although we believe the expectations expressed in forward looking statements are reasonable, risks and uncertainties could cause actual results to be materially different from our expectations. Including the risks set forth in our filings with the Securities and Exchange Commission. All remarks made during the call are current only at the time of the call and will not be updated to reflect developments. The company also uses its website as a means of disclosing material nonpublic information and for complying with disclosure obligations under the SEC's regulation FD. Such disclosures will be included in the Investors section of our website. Accordingly, investors should monitor that portion of our website in addition to following our press releases, SEC filings, public conference calls and webcasts. In our earnings press release and in our remarks or responses to questions, we may use non GAAP financial measures. Reconciliations of these non GAAP measures to our GAAP results are included in our financial supplement as an attachment to our earnings press release our investor presentation and any other materials available in the Investors section of our website. Now I will turn the call over to Kathy Antonello, our Chief Executive Officer.
Katherine Holt Antonello FCAS MAAA: Thank you, Jeffrey. Good morning, everyone, and welcome to our second quarter 2026 Earnings Call. Joining me today is Mike Pedraja, our Chief Financial Officer. Attracting and retaining high quality executives and directors is always an important priority for us. And we are pleased to welcome Stephanie Bush to our board of directors and Jeffrey Lisenby who you just heard from, as our new general counsel. I am confident that both Stephanie and Jeffrey will make meaningful contributions to our organization. As usual, I will begin by providing highlights of our second quarter 26 financial results and then hand it over to Mike for more details on our financials. Before Q&A, I will come back to you with some additional thoughts. If I had to sum up the second quarter, I would say it is the quarter …