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Employers Holdings Drops 5.8% Despite Q2 Earnings Beat

Shares of Employers Holdings, Inc. (NYSE: EIG) have declined 5.8% since it reported second-quarter 2024 results on Jul 31, after the closing bell. The better-than-expected earnings were aided by growth in premiums written, policies in force and higher yields on fixed maturity securities. However, the positives were partially offset by increased overall expenses. EIG reported second-quarter adjusted earnings per share of $1.10, which surpassed the Zacks Consensus Estimate by 1.9%. However, the bottom line fell 6% year over year. Total revenues grew 0.8% year over year to $217 million. But the top line missed the consensus mark by 3%. Employers Holdings Inc Price, Consensus and EPS Surprise Employers Holdings Inc price-consensus-eps-surprise-chart | Employers Holdings Inc Quote Q2 Key Updates Gross premiums written of $207.9 million advanced 5% year over year in the quarter under review on the back of new business growth and higher renewal rates, partly offset by decreased final audit premiums. Net premiums written of $206.1 million increased 5% year over year. Net premiums earned by Employers Holdings amounted to $187.8 million, which improved 6% year over year but lagged the Zacks Consensus Estimate by 4.6%. Net investment income climbed 0.4% year over year ...