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Insurance Brokers M&A image Insurance Brokers M&A » By The Online Investor Staff, updated Thu., May. 6, 7:01 PM Recent mergers and acquisitions in the Insurance Brokers M&A category.

Slide #63. ProAssurance Corporation Eastern Insurance Holdings, Inc.

Acquirer: ProAssurance Corporation (PRA)
Acquiree: Eastern Insurance Holdings, Inc. (EIHI)
Details: ProAssurance Corporation (NYSE: PRA) and Eastern Insurance Holdings, Inc. (NASDAQ: EIHI) announced today that Eastern Insurance Holdings (Eastern) will merge with a newly formed subsidiary of ProAssurance Corporation (ProAssurance) in an all-cash transaction that values Eastern at $24.50 per share. As a result of the merger, Eastern will become a wholly-owned subsidiary of ProAssurance. The transaction, with an aggregate value of approximately $205 million, is expected to close by January 1, 2014.

ProAssurance is a holding company for property and casualty insurance companies. Co.'s segments are: Specialty Property and Casualty, which include its professional liability business and medical technology liability business; Workers' Compensation Insurance, which includes its workers' compensation business; Segregated Portfolio Cell (SPC) Reinsurance, which includes Co.'s Cayman Islands SPC operations; Lloyd's of London market (Lloyd's) Syndicates, which includes Co.'s participation in Lloyd's of London Syndicate 1729 and Syndicate 6131; and Corporate, which includes Co.'s investment operations, other than those SPC Reinsurance and Lloyd's Syndicates segments.

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ProAssurance is a holding company for property and casualty insurance companies. Co.'s segments are: Specialty Property and Casualty, which include its professional liability business and medical technology liability business; Workers' Compensation Insurance, which includes its workers' compensation business; Segregated Portfolio Cell (SPC) Reinsurance, which includes Co.'s Cayman Islands SPC operations; Lloyd's of London market (Lloyd's) Syndicates, which includes Co.'s participation in Lloyd's of London Syndicate 1729 and Syndicate 6131; and Corporate, which includes Co.'s investment operations, other than those SPC Reinsurance and Lloyd's Syndicates segments.

PRA SEC Filing Email Alerts Service


Open the EIHI Page at The Online Investor »

Company Name: 
ProAssurance Corp
Stock buyback: 
PRA buyback
Website: 
www.proassurance.com
Sector: 
Insurance Brokers
Number of ETFs Holding PRA: 
41
Total Market Value Held by ETFs: 
$303.28M
Total Market Capitalization: 
$1.39B
% of Market Cap. Held by ETFs: 
21.77%
Company Name: 
Eastern Insurance Holdings Inc
Website: 
www.eihi.com
Sector: 
Insurance Brokers
 

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