Today’s issue of WorkCompRecap features some mid-week M&A news as Eastern Insurance Holdings has announced it will be acquired ProAssurance in an all-cash deal. EIHI will merge with a newly formed subsidiary, thus becoming a wholly-owned subsidiary of ProAssurance. The transaction, which has an aggregate value of approximately $205 million, is expected to close by January 1 of the new year.
ProAssurance noted Eastern’s proven track record of delivering attractive growth and underwriting profit throughout the insurance cycle, as well as the importance of the product line diversification the transaction will provide for the combined organization.
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