EMCI was formed in 1974 and became publicly held in 1982. That year, 400,000 shares of common stock were issued over-the-counter on the New York Stock Exchange. In 1985 the sale of EMCI stock infused more than $20 million into the company. And a third offering of 2 million shares in 2004 netted over $34 million.
EMCI is a controlled company in that its parent owns greater than 50 percent of its outstanding stock. As of Dec. 31, 2010, EMCI’s parent company, Employers Mutual Casualty Company, owned 61 percent of EMCI’s outstanding stock and public stockholders owned 39 percent. EMCI has no employees of its own.