AM Best has upgraded the Financial Strength Rating (FSR) of Employers Holdings, Inc.'s insurance subsidiaries to A (Excellent) from A- (Excellent). Concurrently, their Long-Term Issuer Credit Ratings (Long-Term ICR) were upgraded to “a” (Excellent) from “a-” (Excellent). The Long-Term ICR of Employers Holdings, Inc. (EHI) was also upgraded to “bbb” (Good) from “bbb-” (Good).
The rating upgrades reflect Employers’ balance sheet strength, assessed as strongest, supported by risk-adjusted capitalization at the strongest level. AM Best also cited the group’s strong operating performance, which has shown sustained improvement in underwriting results and increasing investment income. The company has reported sustained and significant levels of pre-tax earnings.
Employers' consistent underwriting profitability and improved underwriting margins are attributed to a multi-focus, multi-year strategy. This strategy emphasizes adequate pricing, proper risk selection, expedient claims handling, and conservative investing. The outlook for these Credit Ratings has been revised to stable from positive, reinforcing the company's solid financial footing.
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