OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best Co. has upgraded the financial strength rating (FSR) to
A- (Excellent) from B++ (Good) and assigned an issuer credit rating
(ICR) of "a-" to Eastern Life and Health Insurance Company (Eastern
Life and Health) (Lancaster, PA). The outlook for the both ratings is
stable. Eastern Life and Health is a wholly-owned subsidiary of
Eastern Insurance Holdings, Inc. (NASDAQ: EIHI) (Pennsylvania).
Eastern Life and Health's FSR upgrade reflects the parent's
agreement to guarantee the liabilities of Eastern Life and Health, as
well as the maintenance of a continued favorable level of risk-based
capital. Presently, Eastern Life and Health maintains a very strong
risk-based capital ratio and has demonstrated improved underwriting,
which has contributed to recent improved loss ratios across its core
business lines. Eastern Life and Health continues to strive to achieve
capital mass through cross sales opportunities with other subsidiaries
of its parent, as well as maximizing upon its own distribution
network. A.M. Best will continue to monitor the operating and capital
management activities of Eastern Life and Health as it strategically
grows its business.
Eastern Life and Health writes group dental, disability and life
insurance products for employers located principally in the
mid-Atlantic and southeastern United States. The company markets its
insurance products using both general agency and broker relationships.
For Best's Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.
Founded in 1899, A.M. Best Company is a full-service credit rating
organization dedicated to serving the financial services industries,
including the banking and insurance sectors. For more information,
visit www.ambest.com.
Source: A.M. Best Co.
Contact: A.M. Best Co.
Analysts
Kathryn Steffanelli, 908-439-2200, ext. 5063
kathryn.steffanelli@ambest.com
or
Carl Austin, 908-439-2200, ext. 5500
carl.austin@ambest.com
or
Public Relations
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com