Employers Distributes $463M Cash After Conversion

Employers Holdings Inc. announced Monday that the company distributed $462,988,115 in cash and 22,765,407 shares of common stock to the eligible members of its predecessor, EIG Mutual Holding Co., as consideration in its conversion which was completed in early February of this year. Using the initial public offering price of the common stock of $17 per share, the total value of the consideration distributed to the company's eligible Nevada policyholders was $850 million, Employers said in a press release. The closing price of the common stock on the New York Stock Exchange was $20.12. ...