AM Best Removes Under Review with Developing Implications, Affirms Credit Ratings of NORCAL Group’s Members

September 10, 2021 by matray

AM Best has removed the under review with developing implications and affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) for the members of NORCAL Group (NORCAL). The outlook of these Credit Ratings (ratings) is stable. (See below for… Continue reading...

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ProAssurance Declares Quarterly Dividend

September 8, 2021 by matray

The Board of Directors of ProAssurance Corp. has declared a cash dividend of $0.05 per common share, payable on Oct. 8, 2021, to shareholders who own our stock as of September 24, 2021. The ProAssurance dividend policy anticipates a total annual dividend of $0.20 per share, to be paid in equal… Continue reading...

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ProAssurance Completes NORCAL Transaction

May 6, 2021 by matray

ProAssurance Corp. announced its acquisition of NORCAL Mutual Insurance Co. was completed May 5, 2021. NORCAL’s members approved the transaction at a special meeting on April 26. Under terms of a previously announced agreement, NORCAL became part of ProAssurance following its demutualization. Through its tender offer to NORCAL policyholders who… Continue reading...

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AM Best Affirms Credit Ratings of ProAssurance Group Members and ProAssurance Corp.

March 17, 2021 by matray

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" of the members of ProAssurance Group. The outlook of the FSR is stable while the outlook of the Long-Term ICR is negative. Concurrently, AM Best has affirmed the Long-Term… Continue reading...

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NORCAL Mutual Begins Solicitation of Policyholders in Proposed Demutualization

March 5, 2021 by matray

The board of directors for NORCAL Mutual has begun solicitation of policyholders to vote on NORCAL’s plan to convert from a mutual company to a stock company and to elect the form of payment they wish to receive if the conversion occurs. On Feb. 20, 2020, ProAssurance Corp. and NORCAL… Continue reading...

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ProAssurance Declares $0.05 Dividend to Shareholders

December 3, 2020 by matray

The Board of Directors of ProAssurance Corp. has declared a cash dividend of $0.05 per common share, payable on Jan. 7, 2021, to shareholders who own its stock as of Dec. 22, 2020. For 2020, ProAssurance’s dividend policy anticipates a total annual dividend of $0.72 per share. On an annualized basis… Continue reading...

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ProAssurance Corporation Investors File Class Action Lawsuit to Recover Investment Losses

June 17, 2020 by matray

The Portnoy Law Firm published a press release today advising investors that a class action lawsuit has been filed on behalf of ProAssurance Corporation investors that acquired ProAssurance securities between April 26, 2019 and May 7, 2020, inclusive (the “Class Period”). The complaint filed in this lawsuit alleges that: •… Continue reading...

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AM Best Downgrades Credit Ratings of ProAssurance Group and ProAssurance Corporation

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...

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AM Best Downgrades Credit Ratings of NORCAL Group; Revises Under Review Status to Developing from Negative

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...

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ProAssurance to Acquire NORCAL Group

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...

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