Final Audits Help Carrier Book 50% Gain in Net Income for 1st Quarter

Employers Insurance on Thursday reported first quarter 2016 net income of $21 million, a 50% bump from $14 million in last year's first quarter. Net written premiums jumped 10% to $188.7 million in the first three months of the year, driven primarily by higher final audit premiums, Employers said. Investment income was also up by $900,000, to $17.8 million in the first quarter. The growth appears to be coming primarily from outside of California, which has been the primary market for the Reno, Nev.-based carrier. Employers said in-force payroll exposure declined 0.6% in California compar...