Eastern Insurance Holdings, Inc. reported net income of $2.7 million, or $0.29 per diluted share, for the quarter ending 12/31/2009. In the same quarter of 2008, Eastern Insurance Holdings, Inc. reported a net loss of $18.4 million, or $2.05 per diluted share.
Eastern Insurance Holdings, Inc. also grew book value on a year over year basis, from $14.13 per share at the end of 2008 to $15.78 per share at December 31, 2009. The company reported revenue of $36.7 million for the fourth quarter of 2009, up from $30.1 million in the same quarter of 2008.
Bruce M. Eckert, the CEO of Eastern Insurance Holdings, Inc., was happy with the results of the quarter.
“I am pleased to report a solid quarter of results across all business segments. Those segments produced a consolidated combined ratio of 95.0 percent. As in previous quarters, workers’ compensation insurance, our largest business segment, contributed most significantly with a combined ratio of 86.0 percent. For all of 2009, we produced an 87.7 percent combined ratio in workers’ compensation insurance.”
Eastern Insurance Holdings, Inc. is an insurance company headquartered in Lancaster, PA. The company provides workmen’s compensation, health, dental, disability and term life insurance to its customers.