MEDIUMBuilt-inGeographic
46%
California
“10-K Item 1A: 'Our business is concentrated in California, where we generated 46% of our gross premiums written for the year ended December 31, 2025.'”
EIG · Concentration risk · 10-K extracted
Employers Holdings (EIG) concentration risks
Updated
The most significant concentration Employers Holdings discloses is California at 46%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Employers Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM2
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMOutside partyCounterparty
LPT Agreement reinsurers
“10-K Item 1A: 'As of December 31, 2025, the estimated unpaid losses and LAE ceded to the LPT Agreement was $259.6 million.'”
LOWOutside partyCustomer
18.6%
ADP
“10-K Item 1A: 'ADP, our largest distribution agent, generated 18.6% of our gross premiums written, excluding adjustments. for the year ended December 31, 2025.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-06Employers Holdings' concentration risk spans geography, reinsurance counterparty, and distribution. The business is concentrated in California, which generated 46% of gross premiums written for the year ended December 31, 2025 — a structural, medium-share exposure tying results to one state's regulatory and economic environment. On the reinsurance side, the company has ceded an estimated $259.6 million of unpaid losses and loss adjustment expenses under its LPT Agreement, a medium-share counterparty dependency on the reinsurers standing behind that agreement. Distribution is comparatively less concentrated: ADP, the company's largest distribution agent, generated 18.6% of gross premiums written, excluding adjustments — disclosed at a low share, meaning no single agent dominates origination. Of the three, the California concentration is the most structurally significant, since it is difficult to diversify away from a state that anchors the underlying business, while the LPT reinsurance exposure is a counterparty risk that depends on the continued performance of specific reinsurers rather than the company's own operations. The ADP relationship, while notable, is the smallest of the three and less likely on its own to move the overall risk picture.
For the engine’s reasoning on EIG’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Insurance - Specialty
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ESNT | Essent Group Ltd. | 1 | 0 | 1 | 2 |
| EIG● | Employers Holdings Inc | 0 | 2 | 1 | 3 |
| AXS | Axis Capital Holdings Limited | 0 | 1 | 4 | 5 |
| ACT | Enact Holdings, Inc. | 0 | 1 | 1 | 2 |
| AGO | Assured Guaranty Ltd. | 0 | 0 | 0 | 0 |
| FAF | First American Corporation (New | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.