Proassurance Cp - PRA STOCK NEWS

The board of directors of ProAssurance Corporation (NYSE:PRA) declared a cash dividend of $0.05 per common share, payable on October 13, 2022, to shareholders of record as of September 29, 2022. The company anticipates a total annual dividend of $0.20 per share, paid quarterly, subject to the board's review of financial performance and other factors.

AIG reported strong financial results for Q2 2022, highlighting a net income of $3.0 billion or $3.78 per diluted share, a significant increase from $0.11 per share a year ago. The General Insurance sector achieved a combined ratio of 87.4%, its first sub-90 ratio in over 15 years, with underwriting income up 73%. Life and Retirement reported $563 million in adjusted pre-tax income, though down from $1.1 billion last year, impacted by lower investment income. AIG repurchased $1.7 billion in shares and declared a dividend of $0.32 per common share, payable on September 30, 2022.

ProAssurance Corporation (NYSE: PRA) reported a net loss of $1.7 million or $0.03 per diluted share for Q2 2022, alongside an operating income of $16.3 million or $0.30 per diluted share. Key metrics included a 13% rise in gross premiums written to $235.5 million and a consolidated combined ratio of 102.9%, a slight improvement from Q1 2022. Net investment income increased by 26% to $22 million, though adjusted book value per share decreased to $25.96. The results show ongoing efforts in disciplined underwriting and strategic business initiatives post-NORCAL acquisition.

ProAssurance Corporation (NYSE:PRA) will report its quarterly results for the period ending June 30, 2022, after market close on August 8, 2022. A conference call to discuss these results will take place on August 9, 2022, at 10:00 AM ET. US-based investors can join via phone or webcast. Additionally, a replay will be available until at least August 16, 2022. ProAssurance is known for its specialty insurance in healthcare, products liability, and workers' compensation, with strong ratings from AM Best and Fitch Ratings.

InPoint Commercial Real Estate Income, Inc. (NYSE: ICR PRA) has declared a quarterly dividend of $0.421875 per share on its 6.75% Series A Cumulative Redeemable Preferred Stock. This dividend will be payable on June 30, 2022, to shareholders on record as of June 15, 2022. The company focuses on originating, acquiring, and managing a diversified credit portfolio backed by commercial real estate properties primarily in the United States.

At the Annual Meeting of Shareholders, ProAssurance (NYSE:PRA) shareholders voted to reelect four board members, each receiving over 96% approval. Bruce D. Angiolillo was selected as Independent Chair. Shareholders also approved executive compensation for 2021 with 97% support and approved Ernst & Young as the independent auditor for the fiscal year ending December 31, 2022. The Board declared a cash dividend of $0.05 per common share, payable on June 29, 2022, with a total anticipated annual dividend of $0.20 per share planned.

ProAssurance Corporation (NYSE: PRA) reported a net loss of $3.6 million and an operating income of $7.7 million for Q1 2022. Gross premiums written surged to $335.6 million, a 49.3% increase, driven by the NORCAL acquisition. The combined ratio improved to 105.4%, a decline of 4.2 points. However, book value per share fell by approximately 10% to $23.72 due to unrealized losses from a rising interest rate environment. Despite challenges, management remains optimistic about long-term competitive advantages from integration and improved operating results.

AIG announced significant progress on its Life and Retirement separation, establishing a standalone capital structure and publicly filing an S-1 registration. The company reported a net income of $4.3 billion, or $5.15 per diluted share, marking a year-on-year increase from $3.9 billion or $4.41. General Insurance combined ratio improved to 92.9%, while adjusted after-tax income per diluted share rose to $1.30, up 24%. AIG repurchased $1.4 billion of common stock and increased its repurchase authorization to $6.5 billion, reflecting strong shareholder returns. AIG also committed to achieving net zero greenhouse gas emissions by 2050.

ProAssurance Corporation (NYSE:PRA) announced the retirement of Executive Chairman W. Stancil (Stan) Starnes, effective at the Annual Shareholders Meeting on May 24, 2022. Starnes has been with the company since September 2007, having served as Chairman and CEO during significant growth, including seven acquisitions and diversification of services. His leadership is praised by CEO Ned Rand and others for its impact on the company's legacy. The board plans to elect an independent chair following Starnes' retirement.