Q3 2024 Employers Holdings Inc Earnings Call Transcript
Key Points
- Net income per share increased by 124% year-over-year, with adjusted net income per share up by 19%.
- Strong operating results and a decrease in interest rates led to all-time highs in book value per share metrics.
- Ongoing initiatives to reduce underwriting and general administrative expenses have been effective, with the ratio decreasing to 23.2%.
- Net investment income increased by 3% due to higher yields on fixed maturity securities.
- The company returned $15.1 million to stockholders through share repurchases and dividends.
- Gross premiums written decreased by 8%, primarily due to lower final audit premiums and endorsements.
- Losses and loss adjustment expenses increased to $118 million from $115 million a year ago.
- The current accident year loss and LAE ratio on voluntary business increased slightly to 64%.
- Audit premiums decelerated during the third quarter, contributing to a decrease in net written premium.
- Growth in the third quarter was not as strong as previous quarters, partly due to smaller policy size bands.
Thank you for standing by, and welcome to the Employers Holdings, Inc., third-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Lori Brown, General Counsel. Please go ahead.
Thank you, Jonathan. Good morning, and welcome, everyone, to the third quarter 2020 earnings call for Employers. Today's call is being recorded and webcast 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 1995.
Although we believe the expectations expressed in our forward-looking statements are reasonable, risks and uncertainties could cause
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
