AM Best has upgraded the Financial Strength Rating (FSR) of Reno, Nevada-based Employers Holdings Inc.’s subsidiaries to A (Excellent) from A- (Excellent) and their Long-Term Issuer Credit Ratings (Long-Term ICR) to “a” (Excellent) from “a-” (Excellent).
Concurrently, AM Best upgraded the Long-Term ICR of Employers Holdings to “bbb” (Good) from “bbb-” (Good). The outlook of each of these ratings has also been revised to stable from positive.
According to AM Best, the rating upgrades are driven by Employers’ balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, limited business profile, and appropriate enterprise risk management.
Employers Holdings is a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services focused on small and mid-sized businesses engaged in low-to-medium hazard industries. Insurance is offered through Employers Insurance Company of Nevada, Employers Compensation Insurance Co., Employers Preferred Insurance Co., Employers Assurance Co. and Cerity Insurance Co.
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