The following is a summary of the Employers Holdings, Inc. (EIG) Q1 2024 Earnings Call Transcript:
Financial Performance:
Employers Holdings reported an 8% increase in Q1 revenue, primarily due to higher new and renewal premiums, strong net investment income, and investment gains.
Written premiums saw a growth of 14% across all major channels, significantly contributing to the company's revenues.
Gross premiums amounted to $211 million, a raise of 8%.The company reported a growth in net income with a 29% increase, and adjusted net income per diluted share by 12%.
Business Progress:
The company reported a substantial rise of 38% in new business and 6% in renewal business.
Successful integration of Cerity improved underwriting and expense ratios.
A new digitized claim reporting tool was launched in Q1 2024, receiving positive response from both agents and policyholders.
The company plans to introduce more self-service options and expand its appetite in 2024.
The company looks forward to continuing growth backed by a robust capital position.
More details: Employers IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
