EMPLOYERS HOLDINGS, INC. (NYSE:EIG) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.Entry into a Material Definitive Agreement.
On August 11, 2017, Employers Holdings, Inc., a Nevada corporation (the “Company”), filed a Form 8-K (the “Initial Report”) reporting that Employers Group, Inc., a Nevada corporation and a wholly owned subsidiary of the Company, had entered into a stock purchase agreement (the “Initial Purchase Agreement”) with Partner Reinsurance Company of the U.S., a New York corporation, with respect to the acquisition (the “Acquisition”) of all of the outstanding shares of capital stock of PartnerRe Insurance Company of New York, a New York corporation (“PRNY”).
This Current Report on Form 8-K/A amends the Initial Report by providing an Amended and Restated Stock Purchase Agreement (the “Amended Purchase Agreement”), dated as of May 23, 2018, with respect to the Acquisition.
The amendments contained within the Amended Purchase Agreement principally provide that:
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Cerity Group, Inc., a Nevada corporation and a wholly owned subsidiary of the Company, be the acquirer of PRNY, and |
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the Transfer and Assumption Agreement associated with the Initial Purchase Agreement be replaced by a Reinsurance Agreement, a Services Agreement and a Recapture and Termination Agreement in the Amended Purchase Agreement. |
This Current Report on Form 8-K/A makes no other amendments to the Initial Report.
The foregoing description is qualified in its entirety by reference to the full text of the Amended Purchase Agreement, which has been filed as Exhibit 10.1 hereto and is incorporated by reference herein.
Section 9 – Financial Statements and Exhibits
Item 9.01.Financial Statements and Exhibits.
10.1 Amended and Restated Stock Purchase Agreement among Partner Reinsurance Company of the U.S., Cerity Group, Inc. and Employers Holdings, Inc. (solely in its capacity as Guarantor) dated as of May 23, 2018.
Employers Holdings, Inc. ExhibitEX-10.1 2 ex101amendedandrestatedagr.htm EXHIBIT 10.1 Exhibit Exhibit 10.1AMENDED AND RESTATEDSTOCK PURCHASE AGREEMENTamongPARTNER REINSURANCE COMPANY OF THE U.S.,…To view the full exhibit click here
About EMPLOYERS HOLDINGS, INC. (NYSE:EIG)
Employers Holdings, Inc. is a holding company. Through its insurance subsidiaries, the Company provides workers’ compensation insurance coverage to select, small businesses in low to medium hazard industries. The Company provides workers’ compensation insurance under a statutory system wherein employers are required to provide coverage for their employees’ medical, disability, vocational rehabilitation, and/or death benefit costs for work-related injuries or illnesses. The Company provides workers’ compensation insurance in approximately 33 states and the District of Columbia, with a concentration in California. The Company invests in fixed maturity securities, equity securities and cash equivalents. The Company insurance subsidiaries include Employers Insurance Company of Nevada (EICN), Employers Compensation Insurance Company (ECIC), Employers Preferred Insurance Company (EPIC) and Employers Assurance Company (EAC).