Employers, a workers' compensation insurance firm, plans to hire for more than 50 professional positions at its Reno headquarters at South Meadows.
expansion, says Douglas Dirks, the president and chief executive officer, results from last fall's acquisition of Florida workers comp provider AmCOMP a purchase that added 65 percent to Employers total revenue.
Within the next three to six months, corporate functions will be consolidated at the Reno headquarters, which currently employs 170.
In February, Employers announced plans to lay off 14 percent of its workforce nationwide, but didn't disclose details about the number of layoffs, if any, that would occur at its Reno headquarters as opposed to other locations.
Employers has sent job recruitment letters to University of Nevada, Reno, alumni to tell of the new openings in information technology, finance, accounting, human resources, administration and insurance operations. Positions are listed at www.employers.com/Careers.aspx.
Employers formerly wrote 70 percent of its business in California, but since the AmCOMP acquisition, that's dropped to 45 percent. Meanwhile, its other top markets are Nevada, Florida, Wisconsin and Texas.
Despite its hiring plans, Employers has been impacted by the slowing economy, says Dirks, as the firm's revenue is based on payrolls of policyholders. As companies have fewer workers, they need less workers compensation coverage.
"We have seen a decline, particularly pronounced in Nevada. But elsewhere, the slowdown is not as great." In fact, Employers has seen an increase in payroll premiums from the Mid-West and Mid-Atlantic states.
Meanwhile, as the company grows, Dirks expects increased hiring for professional positions at its Reno headquarters. Other functions, such as underwriting, sales and claims management, are handled from its other locations. It conducts business from 17 offices in 30 states.
With roots stretching back to 1913, Employers evolved from Nevada's state insurance fund to a publicly-traded insurance provider.
Employers Holdings, Inc. reported net income for the fourth quarter of 2008 of $15.9 million or $0.32 per share compared with $31.8 million or $0.64 per share in the fourth quarter of 2007.
