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nakninge thcet ion
From modest beginnings as a small offshore reinsurance
operation, Eastern Holding Company, Ltd.
and subsidiaries Eastern Alliance Insurance Group
and Eastern Re had by early this year established their
place in the industry as significant providers of workers’
compensation insurance.
But Eastern needed capital to grow.
Educators Mutual Life Insurance Company, a century-old
Pennsylvania-based group life, dental and disability
insurance provider, had excess capital, which it needed to
deploy effectively.
In the first transaction of its kind in the insurance industry,
Stevens & Lee assisted Eastern in structuring an
innovative transaction in which Educators converted from
mutual to stock form of ownership and its newly created
holding company simultaneously merged with the
Eastern family of companies.
Today, the combined companies, trading under the name
Eastern Insurance Holdings, Inc. and the
Nasdaq symbol “EIHI,” under write workers’ compensation
and group benefits insurance. Now public with plenty of
capital, EIHI has made the connection.
Pennsylvania l New York l New Jersey l Delaware l 800.510.0274 l
www.stevenslee.com
