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ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. It operates through three segments: Specialty Property and Casualty, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance, and Corporate. The company 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 and captive cell programs for healthcare professional liability insureds. It 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. It markets its products through independent agencies and brokers, as well as an internal business development team. ProAssurance Corporation was founded in 1976 and is headquartered in Birmingham, Alabama.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | - | $51M | $-29M | 3.8% | -4.1% | -3.5% |
| 2024 | $1.1B | - | $53M | $-20M | 4.4% | -0.2% | -236.6% |
| 2023 | $1.1B | - | $-39M | $-55M | -3.5% | 2.6% | 9503.0% |
| 2022 | $1.1B | - | $-0M | $-34M | -0.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,101.80 | 1,130.42 | 1,128.20 | 1,081.75 |
| Operating Revenue | - | 1,101.80 | 1,130.42 | 1,128.20 | 1,081.75 |
| Total Expenses | - | 1,108.02 | 1,169.57 | 1,065.12 | 1,009.68 |
| EBIT | - | 14.16 | -16 | 85.42 | 92.91 |
| Interest Expense | - | 20.37 | 23.15 | 22.34 | 20.84 |
| Net Interest Income | - | -20.37 | -23.15 | -22.34 | -20.84 |
| Other Income Expense | - | 9.40 | 10.78 | 13.51 | -3.50 |
| Interest Expense Non Operating | - | 20.37 | 23.15 | 22.34 | 20.84 |
| Net Non Operating Interest Income Expense | - | -20.37 | -23.15 | -22.34 | -20.84 |
| Pretax Income | - | -6.22 | -39.15 | 63.08 | 72.07 |
| Tax Provision | - | -5.81 | -0.55 | 10.33 | 21.15 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -0.62 | 0 | 0 |
| Net Income Continuous Operations | - | -0.40 | -38.60 | 52.74 | 50.92 |
| Net Income From Continuing And Discontinued Operation | - | -0.40 | -38.60 | 52.74 | 50.92 |
| Net Income From Continuing Operation Net Minority Interest | - | -0.40 | -38.60 | 52.74 | 50.92 |
| Net Income | - | -0.40 | -38.60 | 52.74 | 50.92 |
| Net Income Common Stockholders | - | -0.40 | -38.60 | 52.74 | 50.92 |
| Net Income Including Noncontrolling Interests | - | -0.40 | -38.60 | 52.74 | 50.92 |
| Normalized Income | - | -0.40 | 4.89 | 52.74 | 50.92 |
| Diluted NI Availto Com Stockholders | - | -0.40 | -38.60 | 52.74 | 50.92 |
| Basic Average Shares | - | 54.01 | 52.64 | 51.10 | 51.34 |
| Diluted Average Shares | - | 54.14 | 52.79 | 51.27 | 51.67 |
| Reconciled Depreciation | - | 38.06 | 26.02 | 17.75 | 13.69 |
| Total Unusual Items | - | 0 | -44.11 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | -44.11 | 0 | 0 |
| Special Income Charges | - | 0 | -44.11 | 0 | 0 |
| Impairment Of Capital Assets | - | 0 | 44.11 | 0 | 0 |
| Restructuring And Mergern Acquisition | -74.41 | 0 | 0 | - | - |
| Other Operating Expenses | - | 175.92 | 167.56 | 185.68 | 201.51 |
| Loss Adjustment Expense | - | 776.76 | 800.49 | 739.44 | 665.42 |
| Net Policyholder Benefits And Claims | - | 776.76 | 800.49 | 739.44 | 665.42 |
| Policyholder Benefits Gross | - | 839.72 | 918.70 | 795.27 | 718.56 |
| Policyholder Benefits Ceded | - | 62.96 | 118.20 | 55.84 | 53.15 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ProAssurance Corporationthis co. | PRA | $1.3B | 24.86↑ premium | 0.94 | 3.8% | - |
| Burke & Herbert Financial Services Corp. | BHRB | $1.3B | 10.93 | 1.52 | 13.9% | - |
| Goosehead Insurance, Inc. | GSHD | $1.3B | 32.20 | - | -41.5% | - |
| Amalgamated Financial Corp. | AMAL | $1.3B | 12.12 | 1.59 | 13.1% | - |
| Peoples Bancorp Inc. | PEBO |
| - |
| - |
| - |
| - |
| - |
| $1.3B |
| 11.90 |
| 1.04 |
| 8.8% |
| - |
| Tompkins Financial Corporation | TMP | $1.2B | 7.74 | 1.33 | 17.2% | - |
| Atlanticus Holdings Corporation | ATLC | $1.2B | 10.17 | 2.04 | 20.1% | - |
| Community Trust Bancorp, Inc. | CTBI | $1.2B | 12.51 | 1.43 | 11.5% | - |
| OppFi Inc. | OPFI | $1.2B | 46.23 | 20.81 | 45.0% | 3.87 |
| Peer Median | - | 12.01 | 1.52 | 13.5% | 3.87 | |