LANCASTER, Pa., /PRNewswire/ — Eastern Insurance Holdings, Inc. (NASDAQ: EIHI, “the Company”) announced today it has established a satellite office in Richmond, Virginia in support of its subsidiary Eastern Alliance Insurance Group (“Eastern Alliance”), a domestic casualty insurance group specializing in workers’ compensation insurance. EIHI also announced that Eastern Alliance has recently appointed several agencies in the New Jersey, Kentucky and Michigan workers’ compensation markets in support of its geographic expansion plans.
“The establishment of the Richmond, Virginia satellite office will allow us to better serve and further expand on our client base in the Virginia territory,” said Michael Boguski, President and Chief Executive Officer of EIHI. “The newly appointed agency partnerships in New Jersey, Kentucky and Michigan position the Company to expand the Eastern Alliance brand into new operating territories. Both of these initiatives support the Company’s strategy to allocate excess capital to its organic growth plan.”
Eastern Alliance offers a complete line of workers’ compensation products and services, as well as its exclusive ParallelPay® “pay-as-you-go” program. The Richmond, Virginia site is a satellite location of Eastern Alliance’s Charlotte, North Carolina-based Southeast regional office, and is being staffed with underwriting, marketing, claims and risk management professionals.
Founded in 1997, Eastern Alliance has become one of the top ten providers of workers’ compensation insurance in Pennsylvania, writing casualty insurance products in the state through subsidiaries Eastern Alliance Insurance Company, Allied Eastern Indemnity Company, and Eastern Advantage Assurance Company. Eastern Alliance distributes its products and services through independent insurance agencies. In addition to its Richmond, Virginia and Charlotte, North Carolina offices, Eastern Alliance has offices in Lancaster, Pennsylvania, Wexford, Pennsylvania, Carmel, Indiana, and Franklin, Tennessee.