Employers Holdings Inc · NYSE:EIG
Employers — Q4 2025 Earnings Presentation
24 slides from Employers's earnings presentation, Feb 20, 2026
Slide 1: Investor Presentation
INVESTOR PRESENTATION December 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements In this presentation, the Company and its management discuss and make statements based on currently available information regarding their intentions, beliefs, current expectations, and projections of, among other things, the Company's future performance, economic or market
Slide 3: 2025 – Positioning for the Future
2025 – Positioning for the Future In 2025, we executed several strategic actions designed to maintain our focus on profitability and strengthen our foundation for 2026 and beyond Decisive Pricing, Reserving Successful $125 mm Capital Investment Rebalancing Launch new Excess Workers’ 1 2 3 4 & Underw
Slide 4: EMPLOYERS Excess Workers' Compensation Product
® EMPLOYERS Excess Workers’ Compensation Product ® EMPLOYERS has launched a new Excess Workers’ Compensation Product leveraging EIG’s deep understanding of workers’ compensation and market leading risk management tools and services for our clients From our 4Q25 Earnings Meaningful Market Opportunity
Slide 5: Business Overview
Business Overview 5 I E M P L O Y E R S . C O M I C O N F I D E N T I A L
Slide 6: We Are EMPLOYERS
® We Are EMPLOYERS EMPLOYERS® is a technology-enabled workers’ compensation insurer Unique Growth Drivers focused on providing ‘ease of use’ for low-to-medium hazard risk small Specific to EMPLOYERS businesses Transforming how small Small-business workers’ compensation focus and experience businesse
Slide 7: What We Write
What We Write Top Ten Employer Restaurants and Other Eating Places 15% Classifications Building Finishing Contractors 8% Traveler Accommodation 6% Building Equipment Contractors 5% Services to Buildings and Dwellings 5% Real Estate Management 3% Architectural, Engineering and Related Services 3% Off
Slide 8: Markets and Distribution
Markets and Distribution Specialty Agents and Direct Distribution 36% $756 mm Traditional Insurance Agents 64% 2025 Gross Written Premiums 133,605 $ 5,459 Current Premium Nationwide Platform In-force policies Average policy size Contribution as of 12/312025 (the four states highlighted in red provid
Slide 9: Markets and Distribution Continued
Markets and Distribution Continued Employers’ Traditional Insurance Specialty Agents DTC proprietary technology allows Agents and Brokers 35 % of 2025 Gross Direct-to-customer 64% 1% Premiums Written1 of 2025 Gross of 2025 Gross it to underwrite Premiums Written1 Premiums Written1 workers' We have d
Slide 10: Market Share
Market Share 2024 Workers’ Compensation Insurance Industry DIRECT DIRECT PREMIUMS PREMIUMS MARKET RANK GROUP/COMPANY NAME WRITTEN EARNED SHARE % We are the 19th largest 1 TRAVELERS GRP 3,833,368,542 3,838,155,359 6.6 2 HARTFORD FIRE & CAS GRP 3,705,411,049 3,692,588,993 6.5 Workers’ Compensation wri
Slide 11: Accolades
Accolades In March 2025, Newsweek magazine named Employers to its “Most Trustworthy Companies in America 2025” list, listing it in the top 40 of all insurance companies. We pride ourselves on being a In October 2025, Newsweek magazine named Employers strong and active corporate one of the “Greenest
Slide 12: Growth in Premium and Policy Count
Growth in Premium and Policy Count Gross Written Premiums $850 Pre-COVID 19 Post-COVID 19 $800 Since 2020, we have Premium (in millions) $756 $750 $698 grown our Gross Written $700 Premiums by more than $650 30%,and our 2025 Gross $600 Written Premiums were $550 up nearly 9% over pre- $500 2015 2016
Slide 13: Current Initiatives and Strategy
Current Initiatives and Strategy 13 I E M P L O Y E R S . C O M I C O N F I D E N T I A L
Slide 14: Underwriting Portfolio by Hazard Group
Underwriting Portfolio by Hazard Group Our appetite expansion effort continues to be an important contributor to our profitability and growth in premium. Our loss ratios in these new segments continue to be in-line or better than our traditional segments and We employ a thoughtful and conservative u
Slide 15: Embracing Artificial Intelligence (AI)
Embracing Artificial Intelligence (AI) Ensuring the benefits that can be generated from AI are incorporated into our operations is a critical priority for Employers; while the process is still in the early stages, our dedicated team has produced constructive progress and has a detailed roadmap for f
Slide 16: Financial Performance & Strength
Financial Performance & Strength 16 I E M P L O Y E R S . C O M I C O N F I D E N T I A L
Slide 17: Full-Year Highlights
Full-Year Strong Insurance Strong Balance Sheet and 2025 Financial Results Operations Capital Mgmt. Highlights Adjusted Return on Adjusted Net Income Gross Premiums Written Stockholders’ Equity $21.8 mm $756.1 mm or $0.93 per share vs. $776.3 mm in 2024 1.9% vs. 7.7% from 2024 Net Investment Net Pre
Slide 18: Annual Financial Performance
Annual Financial Performance Through December 31, 2025 Adjusted EPS (Diluted) Adjusted ROE $3.83 $3.73 8.5% 7.6% 7.7% $3.10 6.6% $2.93 $2.37 5.5% $0.93 1.9% 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 Combined Ratio excluding LPT Adjusted Book Value per Share 111.7% $50.71 $50.95 94.
Slide 19: Investment Portfolio
Investment Portfolio Consolidated $2.5 billion fair market value, including cash + High quality (average credit quality of A+) + Duration of 4.4 (measured by the sensitivity CLOs changes to interest rates) + Highly liquid ($1.1 billion is unencumbered 1% at the operating companies and is available +
Slide 20: History of Reserve Strength
History of Reserve Strength Net Calendar Year Reserve Development $ millions, excludes involuntary business Reserve estimates are presented to $450 the Audit, Finance & Investment $400 $382 $400 Committee of our Board of Directors $361 each quarter $350 $337 $300 $305 Reserves are reviewed internall
Slide 21: Strong and Transparent Balance Sheet
Strong and Transparent Balance Sheet Our balance sheet is • “A” financial strength rating from AM Best strong and is unburdened by • Favorable reserving track record either legacy issues • Low debt levels and important levels of excess capital or a significant amount of goodwill • Low premium levera
Slide 22: Key Takeaways
Key Takeaways From our 4Q25 Earnings Release dated December 31, 2025: + Excellent market reputation and optimally positioned as a Workers’ Chief Executive Officer Katherine Compensation specialist Antonello commented: “Our full-year + Proprietary technology allows Employers to effectively and effici
Slide 23: Contact Information
Contact Information Investor Relations Contact: Media Contact: Mike Pedraja Kimberly Eye Executive Vice President, Vice President, Chief Financial Officer Marketing & Communications EMPLOYERS HOLDINGS, INC. mpedraja@employers.com keye@employers.com 5340 Kietzke Lane, Suite 202 Reno, Nevada 89511 Kat
Slide 24: Additional Financial Information
Additional Financial Information Reconciliation of Non-GAAP Financial Measures to GAAP Within this investor presentation we present various financial measures, some of which are "non-GAAP financial measures" as defined in Regulation G pursuant to Section 401 of the Sarbanes-Oxley Act of 2002. A desc