Penn Millers Sells Eastern Insurance Group

February 2, 2009 -- Penn Millers has completed the sale of its insurance agency operation, Eastern Insurance Group, to a group of local investors.

The sale is part of Penn Millers’ strategy to concentrate on underwriting property/casualty insurance for Agribusiness and Commercial Business customers. Mystic Capital Advisors Group, LLC, acted as financial advisor to Penn Millers.

Eastern Insurance Group is an independent insurance agency employing 31 individuals. The agency’s new owners, Eastern Insurance Acquisition Group, plan to retain the 31 employees and the office’s Baltimore Drive, Wilkes-Barre location.

Incorporated in 1887, Penn Millers Insurance Company is a regional property/casualty company whose strong financial foundation and successful operating strategies have earned the company a rating of "A-" (Excellent) by A.M. Best Company, the nation’s leading insurance rating organization. Penn Millers writes competitive products through quality, professional independent insurance agents in eight (8) Northeastern, Mid- Atlantic and Southern states and competitive Agribusiness products through quality, professional independent insurance agents and brokers in 33 states throughout the continental United States. The company’s Internet site is www.pennmillers.com

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Contact:
Kathleen A. Granko
Phone: 570-200-1304
Fax: 570-829-4568
E-mail