Eastern Insurance Holdings Inc. (EIHI, Financial) filed Annual Report for the period ended 2010-12-31.
Eastern Insurance Holdings Inc. has a market cap of $116.3 million; its shares were traded at around $12.97 with a P/E ratio of 648.5 and P/S ratio of 1. The dividend yield of Eastern Insurance Holdings Inc. stocks is 2.2%.
On June 21, 2010, EIHI completed the sale of Eastern Life and Health Insurance Company (Eastern Life), its group benefits insurance subsidiary. Eastern Lifes net premiums earned and revenue, prior to the sale, totaled $18.3 million and $20.6 million, respectively, for the year end December 31, 2010. Eastern Lifes net premiums earned and revenue totaled $35.9 million and $40.7 million and $36.7 million and $33.5 million, respectively, for the years ended December 31, 2009 and 2008, respectively.
Segregated portfolio cells, or segregated cells or rent-a-captives, are all referred to as alternative market programs or products. The Company provides a variety of products to this marketplace, including program design, fronting, claims administration, risk management, segregated portfolio cell rental, asset management and segregated portfolio management services. The Company outsources the asset management and segregated portfolio cell management services to a third party. Direct premiums written in the segregated portfolio cell reinsurance segment totaled $28.8 million for the year ended December 31, 2010. The segregated portfolio cell reinsurance segment generated fee revenue to the Companys workers compensation insurance and corporate/other segments totaling $4.5 million for the year ended December 31, 2010.
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Eastern Insurance Holdings Inc. has a market cap of $116.3 million; its shares were traded at around $12.97 with a P/E ratio of 648.5 and P/S ratio of 1. The dividend yield of Eastern Insurance Holdings Inc. stocks is 2.2%.
Highlight of Business Operations:
On December 9, 2010, EIHI completed the sale of Eastern Atlantic RE (Atlantic RE). Atlantic RE was a Cayman Islands reinsurance company formed for the purpose of transferring certain assets and liabilities related to EIHIs run-off specialty reinsurance segment. The run-off specialty reinsurance segment reported net premiums earned totaling $1,000, $1.1 million and $9.7 million and revenue totaling 4.2 million, $1.0 million and $10.6 million for the years ended December 31, 2010, 2009 and 2008, respectively. Total revenue for the year ended December 31, 2010 excludes the loss on the sale of Atlantic RE of $14.0 million.On June 21, 2010, EIHI completed the sale of Eastern Life and Health Insurance Company (Eastern Life), its group benefits insurance subsidiary. Eastern Lifes net premiums earned and revenue, prior to the sale, totaled $18.3 million and $20.6 million, respectively, for the year end December 31, 2010. Eastern Lifes net premiums earned and revenue totaled $35.9 million and $40.7 million and $36.7 million and $33.5 million, respectively, for the years ended December 31, 2009 and 2008, respectively.
Segregated portfolio cells, or segregated cells or rent-a-captives, are all referred to as alternative market programs or products. The Company provides a variety of products to this marketplace, including program design, fronting, claims administration, risk management, segregated portfolio cell rental, asset management and segregated portfolio management services. The Company outsources the asset management and segregated portfolio cell management services to a third party. Direct premiums written in the segregated portfolio cell reinsurance segment totaled $28.8 million for the year ended December 31, 2010. The segregated portfolio cell reinsurance segment generated fee revenue to the Companys workers compensation insurance and corporate/other segments totaling $4.5 million for the year ended December 31, 2010.
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