February 26, 2020 by matray

AM Best has downgraded the Financial Strength Rating (FSR) to A (Excellent) from A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a+” from “aa-” for the members of ProAssurance Group. The outlook of the FSR has been revised to stable from negative whilst the outlook for the… Continue reading...

February 26, 2020 by matray

AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “a-” from “a” for the members of NORCAL Group (NORCAL). Concurrently, AM Best has maintained the under review status on these Credit Ratings (ratings) and revised… Continue reading...

February 20, 2020 by matray

ProAssurance Corp. and NORCAL Group announced today the signing of a definitive agreement under which NORCAL would become a part of ProAssurance in a $450 million transaction following the demutualization of NORCAL Mutual Insurance Company (NORCAL Mutual), NORCAL's ultimate controlling party. The demutualization and the acquisition agreement are mutually contingent,… Continue reading...

January 22, 2020 by matray

ProAssurance Corp. today reported a preliminary estimate of $37 million of adverse development in our prior accident year loss reserves in the fourth quarter of 2019 in our Specialty Property & Casualty segment. This adverse development is in response to deteriorating loss experience, driven by a large national healthcare account… Continue reading...

December 10, 2019 by matray

The Board of Directors of ProAssurance Corp. declared a cash dividend of $0.31 per common share, payable on Jan. 14, 2020, to shareholders who own our stock as of Dec. 27, 2019. “The dividend declared today reflects our ongoing commitment to our customers and shareholders,” said Edward L. Rand, Jr.,… Continue reading...

September 26, 2019 by matray

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” of certain members of the ProAssurance Group. Concurrently, AM Best has upgraded the FSR to A+ (Superior) from A (Excellent) and… Continue reading...

September 5, 2019 by matray

The Board of Directors of ProAssurance Corp. has declared a cash dividend of $0.31 per common share, payable on Oct. 11, 2019, to shareholders who own our stock as of Sept. 27, 2019. The company's dividend policy anticipates a total annual dividend of $1.24 per share, to be paid in… Continue reading...

August 27, 2019 by matray

ProAssurance Corp. president and chief executive officer Edward L. Rand, Jr., will discuss the medical professional liability insurance company’s recently reported results, current market trends and long-term strategy during a question and answer session with investors at the Keefe, Bruyette & Woods 2019 Insurance Conference on Thursday, Sept. 5, 2019,… Continue reading...

July 17, 2019 by matray

ProAssurance Corp. has been named to the Ward’s 50 for 2019. This is the thirteenth-consecutive year the Ward Group has recognized ProAssurance as one of America’s fifty top performing property-casualty insurance companies. To be included in the Ward’s 50, companies are subject to a rigorous evaluation process that includes financial… Continue reading...

June 6, 2019 by matray

Fitch Ratings has affirmed ProAssurance Corporation’s (PRA) subsidiaries Insurer Financial Strength (IFS) ratings at 'A' (Strong). Fitch has downgraded PRA's senior unsecured debt to 'BBB' from 'BBB+' and its Issuer Default Rating (IDR) to 'BBB+' from 'A-'. The Rating Outlook is Stable. A full list of rating actions follows at… Continue reading...