Employers Holdings Inc

Employers Holdings reported second-quarter revenues of $220.2 million, down 10.6% year on year but exceeding analysts' expectations by 8.4%, in what the company called a strong quarter that also beat EPS estimates. Chief Executive Officer Katherine Antonello said diluted earnings per share grew 29% year-over-year and adjusted earnings per share grew 46%, even as net income was essentially flat, reflecting the accretive impact of the company's recapitalization strategy and share repurchases. The stock is down 2.2% since reporting and currently trades at $48.67. Across the 31 property and casualty insurance stocks tracked, group revenues beat consensus estimates by 2.3% while next quarter's revenue guidance came in 0.9% above, yet share prices have fallen an average of 9.6% since the latest earnings results. Among peers, Essent Group reported revenues of $362.7 million, up 13.6% year on year and 9.7% above expectations, while Radian Group posted revenues of $580.7 million, up 95.7% year on year and in line with expectations but with a significant EPS miss.

EMPLOYERS has appointed Jeffrey P. Lisenby as Executive Vice President, General Counsel. Lisenby joins from ProAssurance Corporation, where he spent 25 years as Executive Vice President, General Counsel, and Corporate Secretary. He will advise on insurance regulatory compliance, corporate governance, and other legal matters. EMPLOYERS is a leading provider of workers' compensation insurance for small and mid-sized businesses.