Employers Holdings, a group of workers' compensation insurers based in Reno, Nevada, has reported a 44.9% drop in net income in the third quarter of 2014.
The company's net income shrank from $27.6 million in the third quarter of 2013 to $15.2 million in the third quarter of 2014, according to a Friday press release. Employers did see a 4.6% increase in net earned premiums from $164.4 million to $172.1 million, but its pre-tax expenses outpaced the gains with a 10.4% increase from $159 million to $175.6 million. That includes a 15.7% jump in losses and loss-adjustment expenses from $1...
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