logo
Share SHARE
FONT-SIZE Plus   Neg

ProAssurance Completes Acquisition Of Eastern Insurance

ProAssurance Corp. (PRA) said Thursday that it has completed its acquisition of Eastern Insurance Holdings, Inc.

Eastern's shareholders approved the deal at a special meeting on December 27.

Under terms of the deal announced in September, Eastern becomes a wholly-owned subsidiary of ProAssurance through an all cash deal that valued Eastern at $24.50 per share or $205 million.

Eastern Insurance President Michael Boguski and the Eastern senior executive team have entered into long-term contracts in conjunction with the transaction. Eastern will continue to operate from its corporate office in Lancaster, Pennsylvania and will maintain all existing regional and satellite office locations.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Hollywood is spending more than ever to produce movies, with new technology and computer graphics imaging (CGI) bringing superheroes to life. Directors constantly one-up one another with special effects, while actors like Johnny Depp or Tobey Maguire are demanding beaucoup bucks to reprise their... Sluggish sales of video games have forced GameStop to take a decision to close around 150 retail locations. Digital downloads and competition from rivals are said to be the reason for shut down. The company operates around 6600 stores worldwide and has not revealed the list of shops to be closed. According to reports GameStop is planning the closure of up to 3 percent of their shops. After coming under fire for its decision to bar two teenage girls from boarding a flight on Sunday morning, United Airlines has defended its action. The two teenage girls were prevented by a gate agent on Sunday morning from boarding a United Airlines flight from Denver to Minneapolis as they were wearing leggings that were deemed as improper attire.
comments powered by Disqus
Follow RTT