OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best Co. has assigned a financial strength rating (FSR) of A-
(Excellent) and an issuer credit rating (ICR) of "a-" to Employers
Security Insurance Company (ESIC) following its and Employers Security
Holding Company's (ESHC) (both of Indianapolis, IN) recent
acquisitions by Eastern Insurance Holdings, Inc. (EIHI) (NASDAQ:
EIHI). The outlook for both ratings is positive. On April 18, 2008,
the group ratings of Eastern Alliance Insurance Group (EAIG) were
affirmed with a positive outlook. Upon receipt of an approved
intercompany pooling agreement the group ratings were extended to
ESIC.
The other members of EAIG are Eastern Alliance Insurance Company,
Allied Eastern Indemnity Company and Eastern Advantage Assurance
Company and operate under an intercompany pooling agreement.
Concurrently, on April 18, 2008, A.M. Best affirmed the ICR of "bbb-"
of EIHI and the FSR of A- (Excellent) and ICR of "a-" of Eastern Life
and Health Insurance Company (Eastern Life and Health). EIHI's ICR
outlook is positive, and Eastern Life and Health's FSR and ICR outlook
is stable. All companies are domiciled in Lancaster, PA unless
otherwise noted.
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 global full-service credit
rating organization dedicated to serving the financial and health care
service industries, including insurance companies, banks, hospitals
and health care system providers. For more information, visit
www.ambest.com.
Source: A.M. Best Co.
Contact: A.M. Best Co.
Analysts:
Gordon McLean, 908-439-2200, ext. 5304
gordon.mclean@ambest.com
Michelle Baurkot, 908-439-2200, ext. 5507
michelle.baurkot@ambest.com
or
Public Relations:
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
Rachelle Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com