AM Best Assigns Indicative Issue Credit Ratings to Employers Holdings, Inc.’s New Shelf Registration

AM Best has assigned indicative Long-Term Issue Credit Ratings of “bbb-” to senior unsecured issues, “bb+” to subordinated issues and “bb” to preferred stock to the recently filed shelf registration of Employers Holdings, Inc. (Employers) (Reno, NV) [NYSE: EIG]. The outlook assigned to these Credit Ratings (ratings) is positive.

Effective May 7, 2020, Employers filed a new shelf registration on Form S-3 ASR, which replaces its existing shelf-registration scheduled to expire on May 25, 2020. An S-3ASR filing is an automatic shelf registration statement that is immediately effective upon filing and available to well-known, seasoned issuers, such as Employers, to register unspecified amounts of different specified types of securities over a three-year period. Employers currently has no outstanding debt issuances and has no current plans to issue additional securities under the new shelf registration.

Insurance subsidiaries of Employers provide workers compensation insurance coverage and services to select, small businesses in low-to-medium hazard industries. The insurance subsidiaries generate earnings and steady cash flows to the holding company.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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