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RENO, Nev. - Employers Holdings, Inc. (NYSE: NYSE:EIG), a specialty provider of workers’ compensation insurance and services with a market capitalization of $1.28 billion, announced today the addition of Marvin Pestcoe to its Board of Directors. According to InvestingPro data, the company maintains a strong financial health score of "GREAT" and trades at a P/E ratio of 9.63. Marvin Pestcoe, an insurance and reinsurance expert with over four decades of industry experience, assumes his board role effective immediately.
Pestcoe’s career spans significant leadership positions, including his tenure as Executive Chair and CEO at Langhorne Re, where he served from January 2019 until his retirement in April 2021. He continued his involvement with Langhorne Re as a board member until March 2023. His prior roles include various executive capacities at Partner Re from 2001 to 2017 and Swiss Re (OTC:SSREY) New Markets from 1997 to 2001.
Katherine H. Antonello, President and CEO of Employers Holdings, expressed confidence in Pestcoe’s appointment, citing his extensive background in profit center management, investments, corporate strategy, data analytics, and risk management. She anticipates that his insights will be highly beneficial to the board’s operations.
Pestcoe, a Fellow of the Casualty Actuarial Society and a member of the American Academy of Actuaries, also holds board positions with other insurance industry players. He is currently a board member of Hamilton Insurance Group, Ltd., where he chairs the Underwriting Committee and serves on both the Audit and Investment Committees. Additionally, he is on the board of Catalina Holdings (Bermuda) Ltd.
Employers Holdings, Inc. operates under the EMPLOYERS® brand and has a century-long history of providing workers’ compensation insurance to small and mid-sized businesses in low-to-medium hazard industries. The company is known for its comprehensive coverage solutions, exceptional claims management, and risk management services aimed at creating safer work environments. With a current dividend yield of 2.32% and a 19-year track record of consistent dividend payments, as revealed by InvestingPro analysis, the company demonstrates strong financial stability. Through its subsidiary, Cerity®, Employers Holdings also offers digital-first, direct-to-consumer workers’ compensation insurance.
The company holds an A (Excellent) rating from AM Best and operates across the United States, with the exception of four states that have exclusive state funds. Financial data shows the company maintains healthy liquidity with a current ratio of 1.84, indicating strong ability to meet short-term obligations. For deeper insights into EIG’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which include additional ProTips and advanced metrics. This announcement is based on a press release statement.
In other recent news, Employers Holdings, Inc. reported its fourth-quarter 2024 earnings, showing a mixed performance with an EPS of $1.15, surpassing analyst expectations of $1.07. However, the company’s revenue fell short, recording $216.6 million against a projected $224.38 million. Despite the revenue miss, Employers Holdings marked its 10th consecutive year of underwriting profit, maintaining a combined ratio of 95.5% for the quarter. The company achieved a 14% increase in net premiums earned, reaching $190 million. Employers Holdings declared a $0.30 per share dividend for the first quarter of 2025. Additionally, A. Invest upgraded the financial strength ratings of each of the company’s insurance subsidiaries to A. Analysts from Truist and J.D. Montgomery Scott discussed the company’s strategic shift towards mortgage-backed securities and the expansion into higher hazard business groups during the earnings call. Employers Holdings plans to continue expanding its risk appetite and digital partnerships, aiming for further growth in 2025.
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