Reno, Nev.-based Employers Insurance Group’s financial strength rating has been raised from “stable” to “positive,” and A- (Excellent) forthe group of workers’ compensation insurance companies, according to A.M. Best.
“The rating for Employers Insurance Group reflects the group’s superior risk-adjusted capitalization, strong operating profitability, conservative reserving history and good market profile,” according to formal notice from A.M. Best. The rating action follows improvement in operating performance and capitalization of Employers Insurance Co. of Nevada and Employers Compensation Insurance Co., both companies of Employers Insurance Group.
The rating takes into account growth in statutory surplus to $530 million, and Employers Insurance Group’s increased market share. The group of companies includes California’s 8th largest workers’ compensation writer, and the largest writer of workers’ compensation in Nevada, where Employers Insurance Group maintains its corporate headquarters.
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