ProAssurance Corporation is the nation's fifth largest writer of medical professional liability insurance, and a leader in providing claims defense and relevant risk-management expertise to more than 34,000 policyholders in 28 states and the District of Columbia.
ProAssurance's assets are $4.5 billion and Stockholder's Equity is $1.3 billion. Gross Premiums Written were $549 million in 2007; Net Income was $168 million on revenues of $706 million; Earning per diluted share were $4.76.
The Company writes professional liability insurance through its principal subsidiaries The Medical Assurance Company, Inc., Physicians Insurance Company of Wisconsin (acquired in 2006), ProNational Insurance Company, NCRIC, Inc., and Red Mountain Casualty Insurance Company, Inc., as well as through Woodbrook Casualty Insurance Company, Inc.
ProAssurance is listed under the symbol "PRA" on the New York Stock Exchange.
Since the inception of ProAssurance's predecessor company, Medical Assurance, Inc., the Company has successfully created wealth and value for shareholders. Book Value per diluted share was $38.69 at December 31, 2007, a 16% compound annual growth rate since September 1991. At year-end 2007, ProAssurance stock traded at $55.67 per share, a compound annual growth rate of 17.7% since September, 1991.
ProAssurance was formed in June 2001 through the merger of Medical Assurance, Inc. and Professionals Group, Inc., two of the leading specialty property/casualty insurance groups in America. Since that transaction, ProAssurance has acquired NCRIC, Inc., based in Washington, D.C., and Physicians Insurance Company of Wisconsin.
Our companies are highly rated by A.M. Best and Fitch.
