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ProAssurance Corporation

ProAssurance Corporation

NYSE•PRA
CEO: Mr. Edward Lewis Rand Jr., CPA
Sector: Financial Services
Industry: Insurance - Property & Casualty
Listing Date: 1991-09-04
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. The company operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. It offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds. The company also provides workers' compensation insurance products, such as guaranteed cost policies, policyholder dividend policies, retrospectively rated policies, and deductible policies, as well as alternative market solutions that include program design, fronting, claims administration, risk management, SPC rental, asset management, and SPC management services for individual companies, agencies, groups, and associations. The company also participates in Syndicate 1729 at Lloyd's of London for underwriting. It markets its products through independent agencies and brokers, as well as an internal business development team. The company was founded in 1976 and is headquartered in Birmingham, Alabama.
Contact Information
100 Brookwood Place, Birmingham, AL, 35209, United States
205-877-4400
www.proassurance.com
Market Cap
$1.23B
P/E (TTM)
36.6
12.4
Dividend Yield
--
52W High
$24.22
52W Low
$13.00
52W Range
98%
2.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$279.55M-0.33%
4-Quarter Trend

EPS

$0.03-90.63%
4-Quarter Trend

FCF

$27.20M+170.06%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Strong Equity Position Growth Total Shareholders' Equity reached $1.304B, reflecting an increase of $102.5M compared to December 31, 2024.
Non-GAAP Operating Income Rises Nine-month Non-GAAP Operating Income was $41.474M, showing an $11.048M improvement versus the prior year period.
Investment Income Benefits Yields Net Investment Income totaled $116.326M for nine months, up 8.0% due to higher average book yields across the portfolio.

Risk Factors

Consolidated Net Income Drops Nine-month Net Income fell 52.0% to $17.545M compared to $36.575M recognized in the prior year period.
Specialty P&C Loss Ratio Worsens Specialty P&C current accident year net loss ratio rose 0.6 pts to 82.7% for the nine months ended September 30, 2025.
Merger Closing Regulatory Hurdles Doctors Company merger closing remains subject to customary conditions, including pending insurance regulator approvals in key states.

Outlook

Merger Closing Anticipated Timeline Company currently anticipates closing the proposed transaction with The Doctors Company by June 30, 2026, pending final reviews.
Foreign Currency Hedging Strategy Management changed hedging strategy in Q1 2025, now utilizing foreign currency forward contracts instead of fixed maturity investments.
MPL Reinsurance Terms Adjusted MPL treaty retention increased to 6% from 0% for risk layers above $2M; workers' compensation treaty renewed at lower rate.

Peer Comparison

Revenue (TTM)

Selective Insurance Group, Inc.SIGI
$5.22B
+10.7%
Navient CorporationNAVI
$3.39B
-25.5%
Root, Inc.ROOT
$1.45B
+38.5%

Gross Margin (Latest Quarter)

Root, Inc.ROOT
100.0%
+0.0 pp
Navient CorporationNAVI
95.9%
+19.4 pp
Oaktree Specialty Lending CorporationOCSL
86.9%
+48.8 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SIGI$4.77B11.812.3%0.0%
QCRH$1.32B10.911.7%0.0%
PRA$1.23B36.62.7%0.3%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-1.2%
Flat Growth
4Q Net Income CAGR
-55.3%
Declining Profitability
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 4, 2025|
    Revenue: $279.55M-0.3%
    |
    EPS: $0.03-90.6%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 5, 2025|
    Revenue: $276.75M-4.7%
    |
    EPS: $0.43+43.3%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 6, 2025|
    Revenue: $268.06M-4.9%
    |
    EPS: $-0.11-221.3%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 24, 2025|
    Revenue: $1.13B-0.8%
    |
    EPS: $1.03+241.1%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $280.49M+1.7%
    |
    EPS: $0.32-133.7%
    Beat
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 8, 2024|
    Revenue: $290.36M-0.6%
    |
    EPS: $0.30+50.0%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 6, 2024|
    Revenue: $281.73M+2.9%
    |
    EPS: $0.09-182.5%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 27, 2024|
    Revenue: $1.14B+3.2%
    |
    EPS: $-0.73-9764.9%
    Miss