Employers Holdings, Inc.

For the period ended Sep 30, 2026. Filed Oct 30, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Oct 30, 2026

EIG$47.56+0.5%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

PART I – FINANCIAL INFORMATION Item 1 Consolidated Financial Statements

PART I –FINANCIAL INFORMATION

Item 1. Consolidated Financial Statements

Employers Holdings, Inc. and Subsidiaries
Consolidated Balance Sheets
(in millions, except share data)
	As of	As of
	September 30,2026	December 31,2025
Assets · (unaudited)
Investments:
Fixed maturity securities at fair value (amortized cost $2,068.9 at September 30, 2026 and $2,031.8 at December 31, 2025, less CECL allowance of $1.0 at September 30, 2026 and $0.4 at December 31, 2025)	$1,974.3	$2,040.7
Equity securities at fair value (cost $88.5 at September 30, 2026 and $96.5 at December 31, 2025)	173.2	184.0
Equity securities at cost	9.1	7.5
Other invested assets (cost $75.0 at September 30, 2026 and $79.4 at December 31, 2025)	89.1	96.5
Short-term investments at fair value (amortized cost $13.2 at September 30, 2026 and $10.1 at December 31, 2025)	13.2	10.1
Total investments	2,258.9	2,338.8
Cash and cash equivalents	75.7	159.8
Restricted cash and cash equivalents	0.2	0.2
Accrued investment income	15.1	15.5
Premiums receivable (less CECL allowance of $25.0 at September 30, 2026 and $22.6 at December 31, 2025)	317.7	335.4
Reinsurance recoverable for:
Paid losses	6.6	5.9
Unpaid losses (less CECL allowance of $0.8 at September 30, 2026 and $0.8 at December 31, 2025)	374.0	385.7
Deferred policy acquisition costs	55.7	57.1
Federal income taxes recoverable	6.5	16.1
Deferred income tax asset, net	36.0	14.3
Property and equipment, net	6.2	6.5
Operating lease right-of-use assets	3.2	3.7
Intangible assets, net	13.6	13.6
Goodwill	36.2	36.2
Cloud computing arrangements	14.2	12.9
Other assets	32.3	34.9
Total assets	$3,252.1	$3,436.6
Liabilities and stockholders’ equity
Unpaid losses and loss adjustment expenses	$1,733.3	$1,805.8
Unearned premiums	374.9	391.9
Commissions and premium taxes payable	53.5	59.9
Accounts payable and accrued expenses	21.9	23.4
Deferred reinsurance gain—LPT Agreement	84.0	88.0
Short-term debt	—	16.0
Operating lease liability	3.4	3.9
Non-cancellable obligations	4.2	7.7
Long-term debt	125.0	19.0
Other liabilities	66.3	65.3
Total liabilities	$2,466.5	$2,480.9
Commitments and contingencies (Notes 3 and 6)

Employers Holdings, Inc. and Subsidiaries
Consolidated Balance Sheets
(in millions, except share data)
	As of	As of
	September 30,2026	December 31,2025
Stockholders’ equity: · (unaudited)
Common stock, $0.01 par value; 150,000,000 shares authorized; 58,362,924 and 58,276,637 shares issued and 17,590,493 and 20,342,135 shares outstanding at September 30, 2026 and December 31, 2025, respectively	$0.6	$0.6
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued	—	—
Additional paid-in capital	430.9	427.8
Retained earnings	1,485.8	1,453.8
Accumulated other comprehensive (loss) income, net of tax	(74.0)	7.3
Treasury stock, at cost (40,772,431 shares at September 30, 2026 and 37,934,502 shares at December 31, 2025)	(1,057.7)	(933.8)
Total stockholders’ equity	785.6	955.7
Total liabilities and stockholders’ equity	$3,252.1	$3,436.6

Employers Holdings, Inc. and Subsidiaries
Consolidated Statements of Comprehensive Income (Loss)
(in millions, except per share data)
Three Months Ended · Nine Months Ended
	September 30,		September 30,
	2026	2025	2026	2025
Revenues · (unaudited) · (unaudited)
Net premiums earned	$160.2	$192.1	$515.2	$573.4
Net investment income	32.3	26.1	88.0	85.3
Net realized and unrealized (losses) gains on investments	(3.2)	21.2	13.8	29.3
Other income (loss)	—	(0.1)	0.1	0.2
Total revenues	189.3	239.3	617.1	688.2
Expenses
Losses and loss adjustment expenses	114.0	186.6	365.5	447.4
Commission expense	20.6	23.0	66.5	72.1
Underwriting expenses	38.9	39.6	119.5	125.7
Interest and financing expenses	1.3	0.2	3.7	0.3
Other non-recurring expenses	—	1.1	—	1.1
Total expenses	174.8	250.5	555.2	646.6
Net income (loss) before income taxes	14.5	(11.2)	61.9	41.6
Income tax expense (benefit)	2.9	(2.9)	11.1	7.4
Net income (loss)	$11.6	$(8.3)	$50.8	$34.2
Comprehensive (loss) income
Unrealized AFS investment (losses) gains arising during the period, net of tax benefit (expense) of $16.3 and $(3.9) for the three months ended September 30, 2026 and 2025, respectively, and $21.8 and $(11.5) for the nine months ended September 30, 2026 and 2025, respectively	$(61.8)	$14.6	$(82.1)	$43.1
Reclassification adjustment for realized AFS investment losses in net income, net of tax benefit of $(0.5) for the three months ended September 30, 2025, and $(0.2) and $(0.7) for nine months ended September 30, 2026 and 2025, respectively	—	2.0	0.8	2.8
Other comprehensive (loss) income, net of tax	(61.8)	16.6	(81.3)	45.9
Total comprehensive (loss) income	$(50.2)	$8.3	$(30.5)	$80.1
Earnings (loss) per common share (Note 13):
Basic	$0.65	$(0.36)	$2.75	$1.43
Diluted	$0.64	$(0.36)	$2.73	$1.42
Cash dividends declared per common share and eligible equity plan awards	$0.34	$0.32	$1.00	$0.94

Employers Holdings, Inc. and Subsidiaries
Consolidated Statements of Stockholders’ Equity
For the Three Months Ended September 30, 2026 and 2025
(Unaudited)
Common Stock · Additional Paid-In Capital · Retained Earnings · Accumulated Other Comprehensive (Loss) Income, Net · Treasury Stock at Cost · Total Stockholders’ Equity
Shares Issued · Amount
(in millions, except share data)
Balance, July 1, 2026	58,352,888	$0.6	$429.3	$1,480.5	$(12.2)	$(1,039.4)	$858.8
Stock-based obligations	—	—	1.7	—	—	—	1.7
Vesting of RSUs and PSUs, net of shares withheld to satisfy tax withholdings	10,036	—	(0.1)	—	—	—	(0.1)
Acquisitions of common stock	—	—	—	—	—	(18.3)	(18.3)
Dividends declared	—	—	—	(6.3)	—	—	(6.3)
Net income for the period	—	—	—	11.6	—	—	11.6
Change in net unrealized losses on AFS investments, net of taxes of $16.3	—	—	—	—	(61.8)	—	(61.8)
Balance, September 30, 2026	58,362,924	$0.6	$430.9	$1,485.8	$(74.0)	$(1,057.7)	$785.6
Balance, July 1, 2025	58,257,209	$0.6	$425.7	$1,500.2	$(53.2)	$(790.2)	$1,083.1
Stock-based obligations	—	—	1.1	—	—	—	1.1
Vesting of RSUs and PSUs, net of shares withheld to satisfy tax withholdings	18,052	—	(0.1)	—	—	—	(0.1)
Acquisitions of common stock	—	—	—	—	—	(45.7)	(45.7)
Dividends declared	—	—	—	(7.5)	—	—	(7.5)
Net (loss) for the period	—	—	—	(8.3)	—	—	(8.3)
Change in net unrealized losses on AFS investments, net of taxes of $(4.4)	—	—	—	—	16.6	—	16.6
Balance, September 30, 2025	58,275,261	$0.6	$426.7	$1,484.4	$(36.6)	$(835.9)	$1,039.2
See accompanying unaudited notes to the consolidated financial statements.

Employers Holdings, Inc. and Subsidiaries
Consolidated Statements of Stockholders’ Equity
For the Nine Months Ended September 30, 2026 and 2025
(Unaudited)
Common Stock · Additional Paid-In Capital · Retained Earnings · Accumulated Other Comprehensive (Loss) Income, Net · Treasury Stock at Cost · Total Stockholders’ Equity
Shares Issued · Amount
(in millions, except share data)
Balance, January 1, 2026	58,276,637	$0.6	$427.8	$1,453.8	$7.3	$(933.8)	$955.7
Stock-based obligations	—	—	4.3	—	—	—	4.3
Vesting of RSUs and PSUs, net of shares withheld to satisfy tax withholdings	86,287	—	(1.2)	—	—	—	(1.2)
Acquisitions of common stock	—	—	—	—	—	(123.9)	(123.9)
Dividends declared	—	—	—	(18.8)	—	—	(18.8)
Net income for the period	—	—	—	50.8	—	—	50.8
Change in net unrealized losses on AFS investments, net of taxes of $21.6	—	—	—	—	(81.3)	—	(81.3)
Balance, September 30, 2026	58,362,924	$0.6	$430.9	$1,485.8	$(74.0)	$(1,057.7)	$785.6
Balance, January 1, 2025	58,184,861	$0.6	$424.2	$1,472.9	$(82.5)	$(746.5)	$1,068.7
Stock-based obligations	—	—	3.9	—	—	—	3.9
Vesting of RSUs and PSUs, net of shares withheld to satisfy tax withholdings	90,400	—	(1.4)	—	—	—	(1.4)
Acquisitions of common stock	—	—	—	—	—	(89.4)	(89.4)
Dividends declared	—	—	—	(22.7)	—	—	(22.7)
Net income for the period	—	—	—	34.2	—	—	34.2
Change in net unrealized losses on AFS investments, net of taxes of $(12.2)	—	—	—	—	45.9	—	45.9
Balance, September 30, 2025	58,275,261	$0.6	$426.7	$1,484.4	$(36.6)	$(835.9)	$1,039.2
See accompanying unaudited notes to the consolidated financial statements.

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