Navigation Links
Eastern Alliance Insurance Group and Eastern Life and Health Insurance Company Announce Affirmation of A- (Excellent) A.M. Best Ratings and a Positive Outlook for Eastern Alliance Insurance Group
Date:4/21/2008

LANCASTER, Pa., April 21 /PRNewswire-FirstCall/ -- Eastern Insurance Holdings, Inc. ("EIHI") (Nasdaq: EIHI) today announced that A.M. Best Co. has affirmed it's A- (Excellent) financial strength ratings of EIHI members Eastern Alliance Insurance Group ("EAIG") and Eastern Life and Health Insurance Company ("ELH") and upgraded the outlook for EAIG to positive. EAIG is a domestic casualty insurance group specializing in workers' compensation. A.M. Best reaffirmed a stable outlook for ELH, a domestic life and health insurance company.

Bruce Eckert, Chief Executive Officer of EIHI, stated "A.M. Best's affirmation of these A- ratings confirms our ability to successfully compete for additional customers in our existing market place. We are extremely pleased with the upgrade of EAIG's outlook to positive, in recognition of our continuing excellent operational and financial results."

In its news release affirming the A- rating, A.M. Best recognized EAIG's "strong operating results, excellent capitalization and diversified organizational structure." A.M. Best additionally highlighted EAIG's "cultivation of a loyal agency base" and its "five-year average combined ratio, which remains well below the workers' compensation average." The positive outlook "reflects the strong operating results, focused underwriting initiatives and aggressive claims closures."

EAIG consists of Eastern Alliance Insurance Company, Allied Eastern Indemnity Company and Eastern Advantage Assurance Company, which operate under an intercompany pooling agreement.

A.M. Best reaffirmed the A- financial strength rating of ELH, noting that ELH "maintains a very strong level of risk-based capital," and has improved its "loss ratios across its core business lines." A.M. Best additionally noted that ELH "continues to make progress towards its goal to cross sell products within the other distribution channels" of holding company, EIHI.

EIHI, EAIG and ELH are all domiciled in Lancaster, Pennsylvania.

Founded in 1997, EAIG specializes in providing workers' compensation products and services to businesses and self-insured clients in the Mid-Atlantic and Southeast. EAIG distributes its products through independent insurance agencies. EAIG's Web address is http://www.eains.com.

Founded in 1910, ELH provides group life, dental and disability insurance to customers in 16 states. ELH is licensed in 41 jurisdictions and markets and distributes its products through independent general agencies. The company's Web address is http://www.elhins.com.

Organized in 2006, EIHI operates through its subsidiaries a domestic casualty insurance group specializing in workers' compensation, a domestic accident and life insurance company, an offshore specialty reinsurance company and a third-party claims administration company. The company's Web address is http://www.easterninsuranceholdings.com.

FORWARD LOOKING STATEMENTS

In addition to historical information this press release may contain "forward-looking statements" that are made in good faith by EIHI pursuant to the "safe harbor" provisions of the private Securities Litigation Reform Act of 1995. These forward-looking statements include statements with respect to strategies, goals, beliefs, expectations, intentions, results of operations, future performance and business of EIHI. Numerous competitive, economic, regulatory, legal, technological and other factors could cause financial performance to differ materially from the goals, plans, objectives, intentions and expectations expressed in such forward-looking statements. EIHI cautions that the foregoing factors are not all inclusive. EIHI does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the company. This press release also does not constitute an offer to sell, or a solicitation of an offer to buy, EIHI securities. Such an offer will be made only by means of a prospectus.


'/>"/>
SOURCE Eastern Insurance Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Laura Loughridge Wargo Named Chief Development Officer for American Red Cross - Southeastern Michigan Chapter
2. Touchstone Energy Open Brings Future PGA Stars, Tourists to Eastern N.C.
3. When it comes to emotions, Eastern and Western cultures see things very differently: Study
4. Generic Prescription Drugs Show Increasingly Greater Use in Southeastern Pennsylvania
5. Lupus Foundation of America Offers Webchat for Parents of Teens with Lupus on December 12 at 3:00 p.m. Eastern Time
6. Eastern Insurance Holdings, Inc. Announces Quarterly Dividend
7. Vermillion to Host Teleconference and Webcast to Discuss Third Quarter 2007 Financial Results on November 12 at 4:30 pm Eastern Time
8. RS&A, Inc. Announces It Has Joined Radiology Oncology Systems, Inc. (ROS) and Acceletronics, Inc. in a Strategic Alliance to Better Serve Its Customers in the Southeastern US
9. CardioTech Announces Conference Call on November 13 at 2:30 PM Eastern For Second Quarter of Fiscal 2008
10. Mayo Clinic Calls for Thorough Review of Canadian Pacifics Acquisition of the Dakota, Minnesota & Eastern Railroad
11. 2007 Ottawa & Eastern Ontario Physique Championship to be Sponsored by Natural Nutrition
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/29/2016)... ... 29, 2016 , ... Memorial Healthcare System Graduate Medical ... (ACGME) that it has received accreditation for its residency program on Physical Medicine ... that Memorial is currently pursuing, including Pediatrics and Internal Medicine. This accreditation allows ...
(Date:4/29/2016)... ... April 29, 2016 , ... On Tuesday, April 26, 2016 members ... celebrated the signature of Gov. Nathan Deal on SB 258, the “Rural Health Care ... Cumming), offers a 70% tax credit to individuals and corporations which donate directly to ...
(Date:4/29/2016)... ... April 29, 2016 , ... The White ... repaying their loans, more information about their loan terms and accounts, and more ... loan debt, including federal and private loans, has reached $1.3 trillion, with 43 ...
(Date:4/29/2016)... ... April 29, 2016 , ... ... infants born with severe congenital diaphragmatic hernia have better survival rates if surgery ... diaphragmatic hernia (CDH)—a condition where the diaphragm fails to form completely, letting abdominal ...
(Date:4/29/2016)... ... 2016 , ... Mobility Designed is redefining mobility with their patent pending ... Crutch evenly distributes body weight from the elbow to the forearm. In consumer ... than with other crutches. , Co-founders Max and Liliana Younger were inspired to design ...
Breaking Medicine News(10 mins):
(Date:4/28/2016)... YORK , April 28, 2016  While ... notably complement the company,s valve repair and stent ... move also places Abbott more firmly into patient ... of the fastest growing device areas, with double-digit ... its recent report,  Advanced Remote Patient Monitoring ...
(Date:4/28/2016)... 28, 2016  Marking its one year anniversary ... ovarian cancer risk test, Color Genomics ... that highly impact the most common hereditary cancers ... Color Test analyzes hereditary cancer risks for breast, ... cancers. The Color Test is physician ordered and ...
(Date:4/28/2016)... , April 28, 2016  The blood testing ... million dollars, according to Kalorama Information and The Freedonia ... immunoassays and nucleic acid testing.  The healthcare research firm ... progress in developing blood collection stations and in improving ... in Kalorama Information,s report, Blood Testing Market ...
Breaking Medicine Technology: