Intelligencer Journal/Lancaster New Era
Eastern Insurance Holdings on Thursday reported higher net profits for the fourth quarter and full year.
For the quarter, net profits were $3.29 million (42 cents a share), up 16.6 percent from $2.83 million (37 cents a share) in the 2011 quarter. Revenue grew 21.6 percent to $46.1 million.
For the year, net profits were $10.35 million ($1.32 a share), up 34.0 percent from $7.72 million (91 cents a share) in 2011. Revenue increased 21.8 percent to $168.1 million.
Lancaster-based Eastern said its profits were helped by higher net premiums earned, larger net realized investment gains and a lower consolidated expense ratio.