PRLog (Press Release)
- Feb. 28, 2011 -
Eastern Insurance Holdings, Inc. (Nasdaq:EIHI)
reported earnings for the three months ended December 31, 2010. EIHI reported a net loss of $11.8 million, or $1.37 per diluted share, for the fourth quarter of 2010, compared to net income of $2.7 million, or $0.29 per diluted share, for the same period in 2009. Included in the net loss for the three months ended December 31, 2010 is an after-tax loss on the sale of Eastern Atlantic RE of $14.5 million, or $1.68 per diluted share. The sale of Eastern Atlantic RE, formerly of the Company's run-off specialty reinsurance segment, was previously announced in dated December 9, 2010. EIHI's net income from continuing operations was $538,000, or $0.06 per diluted share, for the fourth quarter of 2010 compared to net income from continuing operations of $1.6 million, or $0.18 per diluted share, for the same period in 2009. EIHI's diluted book value per share was $14.88 as of December 31, 2010 compared to $15.78 as of December 31, 2009.
Eastern Insurance Holdings, Inc., through its subsidiaries, offers workers? compensation and group benefits insurance and reinsurance products in the United States.
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