)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Employers Holdings (EIG) investor relations material
Employers Holdings Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary31 Oct, 2025
Executive summary
Reported a net loss of $8.3 million for Q3 2025 and an adjusted net loss of $25.5 million, primarily due to $38.2 million reserve strengthening for increased California cumulative trauma (CT) claims in recent accident years.
Gross premiums written rose 1.4% to $183.9 million in Q3 2025, with policy-in-force up 4% year-over-year to a record 135,414, driven by renewal business and small commercial segment growth.
Announced a $125 million debt-funded recapitalization plan to optimize capital structure and enhance shareholder returns, with share repurchase authorization increased to $250 million.
Decisive actions in pricing, reserving, and underwriting, including a more conservative reserving approach and appetite expansion, to build resilience and support future profitability.
Returned $52.7 million to shareholders in Q3 2025 via dividends and share repurchases.
Financial highlights
Gross premiums written were $183.9 million for Q3 2025 and $599.3 million year-to-date; net premiums earned were $192.1 million for Q3 2025 and $573.4 million year-to-date.
Losses and LAE surged to $186.6 million in Q3 2025, up 58.5% year-over-year, mainly due to reserve strengthening and higher CT claim frequency.
Net investment income was $26.1 million for Q3 2025 and $85.3 million for the nine months, with net realized and unrealized gains of $21.2 million in Q3 2025.
Adjusted net loss for Q3 2025 was $25.5 million, compared to adjusted net income of $20.2 million a year ago; nine-month adjusted net income was $34 million, down from $90 million last year.
Combined ratio increased to 129.7% for Q3 2025 and 112.5% for the nine months, with loss and LAE ratio at 97.1% for Q3 2025.
Outlook and guidance
Underwriting and pricing actions are expected to improve future accident year performance, with 2025 anticipated to outperform 2024 and 2023 at comparable maturities.
Recapitalization and share repurchase initiatives are expected to reduce cost of capital, expand EPS, increase book value per share, and improve ROE.
No significant growth expected in the next 12 months as focus remains on underwriting margin over top-line expansion.
Management expects that recent reserve actions and California-specific underwriting changes fully address current loss trends.
Fourth quarter will include a full internal and external reserve review, with no expected impact.
Impact of CA trauma claims on future reserves?
Recapitalization plan: specific debt sources?
Path to underwriting margin improvement and growth?
How will CT claim trends impact 2026 loss picks?
Recapitalization plan: expected ROE/EPS impact?
What market opportunity does excess WC offer?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Employers Holdings earnings date
Q4 202520 Feb, 2026
Next Employers Holdings earnings date
Q4 202520 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Employers Holdings Inc is a provider of workers’ compensation insurance primarily focused on small businesses. The company markets its services through independent agents and brokers, offering coverage to employers across a variety of industries. It operates in select states with a focus on underwriting discipline and risk management. The company is headquartered in Reno, Nevada, and its shares are listed on the NYSE.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage