Eastern Alliance Insurance Group Appoints Steven Weeks Regional Business Executive for New Gulf South Regional Office

LANCASTER, Pa., July 24, 2012 /PRNewswire/ -- Eastern Insurance Holdings, Inc. (Nasdaq: EIHI) ("EIHI," "Eastern") announced today that Steven Weeks has joined Eastern Alliance Insurance Group ("EAIG") as its Regional Business Executive for the Gulf South territory. EAIG, an indirect wholly-owned subsidiary of EIHI, is a domestic casualty insurance group specializing in workers' compensation insurance.

Weeks will spearhead EAIG's long-term strategic initiatives and manage the day-to-day operations in its new Gulf South region, encompassing Mississippi, Alabama, Arkansas and Louisiana. EAIG plans to open a Gulf South regional office in the Madison, Mississippi area later this year.

"We welcome Steve to the Eastern family of companies," said Michael L. Boguski, President and Chief Executive Officer for EIHI. "Expansion into the Gulf South territory supports Eastern's strategy to allocate excess capital to its organic growth plan. Steve's significant workers' compensation experience in the Mississippi marketplace is a tremendous asset to Eastern as we extend our brand and full complement of workers' compensation products and services into the region."

Weeks has twenty-four years of experience in the property and casualty insurance industry, with specific focus on workers' compensation and medical professional liability. He most recently served as the Director of four companies and five profit centers in Mississippi for HPI Company and MHA Solutions. He previously served as the Second Vice President of Marketing/Sales for the Virginia Insurance Reciprocal/The Reciprocal Group. He currently serves on the board of the Mississippi Association of Self Insurers and the Mississippi Workers' Compensation Committee Advisory Council. He earned a Bachelors of Business Administration in Marketing from Belhaven College in Jackson, Mississippi, and maintains a producer's license in property and casualty and surplus lines.

Over the past few years, EAIG has received regulatory approval to write casualty insurance products in the region through subsidiaries Eastern Alliance Insurance Company, Allied Eastern Indemnity Company, and Eastern Advantage Assurance Company. EAIG will staff the Gulf South regional office with underwriting, marketing, claims and risk management professionals.

Founded in 1997, EAIG offers a complete line of workers' compensation products and services to businesses, groups and self-insured clients, including EAIG's exclusive ParallelPay^® "pay-as-you-go" premium payment option and ecovery(sm) Return to Wellness program. EAIG is a member of the publicly-held Eastern Insurance Holdings, Inc. family of companies. In addition to the new Gulf South regional office, EAIG has Mid-Atlantic offices in Lancaster and Wexford, Pennsylvania, Southeast offices in Charlotte, North Carolina, Franklin, Tennessee, and Richmond, Virginia, and a Midwest office in Carmel, Indiana. EAIG's Web address is www.eains.com.  

FORWARD LOOKING STATEMENTS

Some of the statements contained in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended.  In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expect," "project," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms or other similar terminology.  Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements.  No assurance can be given that management's expectations, beliefs or projections will occur or be achieved or accomplished.  Factors that could affect the Company's actual results include, among others, the fact that our loss reserves are based on estimates and may be inadequate to cover our actual losses; the uncertain effects of emerging claim and coverage issues on our business; an inability to obtain or collect on our reinsurance protection; a downgrade in the A.M. Best rating of our insurance subsidiaries; the impact of extensive regulation of the insurance industry and legislative and regulatory changes; a failure to realize our growth strategies and investment objectives; the further deterioration in the fixed income and equity security markets, the effects of intense competition; the loss of one or more principal employees; the geographic concentration of our business; the failure of independent insurance brokers to adequately market our products; and other factors described in our filings with the U.S. Securities and Exchange Commission.  Readers are cautioned not to place undue reliance upon these forward-looking statements, which speak only as of the date of this release.  The Company undertakes no obligation to update any forward-looking statements.

SOURCE Eastern Insurance Holdings, Inc.

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