ProAssurance Corporation - PRA STOCK NEWS

ProAssurance Corporation (NYSE:PRA) has declared a cash dividend of $0.05 per share, payable on January 7, 2022, to shareholders of record as of December 22, 2021. The company anticipates a total annual dividend of $0.20 per share, distributed in quarterly installments, though future dividends depend on the Board's review of financial performance and other factors. Additionally, the 2022 Annual Meeting of Shareholders is scheduled for May 24, 2022, with a record date of March 28, 2022.

ProAssurance Corporation (NYSE: PRA) reported a net income of $12.2 million ($0.23 per diluted share) for Q3 2021, driven by a 40% increase in net premiums earned to $272.2 million. This growth was attributed to the acquisition of NORCAL and strong performance in their Specialty Property & Casualty segment. The company reported a net investment result of $34.5 million, up 58.5%. However, the net loss ratio rose by 7.3 points due to higher claims in the Workers’ Compensation segment. Operating income also showed significant improvement, reaching $13.8 million ($0.25 per diluted share).

American International Group (AIG) reported strong financial results for Q3 2021, with net income attributable to common shareholders rising to $1.7 billion ($1.92 per share) from $281 million ($0.32 per share) in the prior year. General Insurance net premiums written grew 11% due to a 17% increase in Commercial Lines. The combined ratio improved by 7.5 points to 99.7%. AIG also completed a $2.2 billion equity stake sale as part of its Life and Retirement separation strategy. Adjusted after-tax income per diluted share increased by 20% to $0.97. The company ended Q3 with $5.3 billion in liquidity.

ProAssurance Corporation (NYSE:PRA) will announce its quarterly results for the period ending September 30, 2021, on November 8, 2021, after market close. A conference call is scheduled for November 9, 2021, at 10:00 AM ET, where management will discuss the results. Investors can access the call via phone or through a webcast on ProAssurance's website. A replay of the call will be available until December 7, 2021. ProAssurance is recognized for its expertise in various specialty insurance areas, holding ratings of 'A' (Excellent) from AM Best and 'A-' (Strong) from Fitch Ratings.

ProAssurance Corporation (NYSE:PRA) has announced a cash dividend of $0.05 per common share, to be paid on October 8, 2021, for shareholders on record as of September 24, 2021. The company aims for an annual dividend of $0.20 per share, distributed in quarterly installments. Future cash dividends will depend on the Board's review of financial performance and future expectations. ProAssurance is recognized for its expertise in healthcare and legal professional liability and holds strong ratings from AM Best and Fitch Ratings.

ProAssurance Corporation (NYSE: PRA) reported a net income of $92.1 million ($1.70 per diluted share) for Q2 2021, driven by a $74.4 million gain from the acquisition of NORCAL, offset by $20.3 million in transaction-related costs. Excluding these factors, the operating income was $26.6 million ($0.49 per diluted share). The combined ratio was 99.9%, showing profitability in various segments. Q2 also saw a significant 32.7% increase in gross premiums written in the Specialty Property & Casualty segment. However, the Workers’ Compensation Insurance segment experienced a 1.1% rise in gross premiums.

ProAssurance Corporation (NYSE:PRA) will announce its financial results for the quarter ending June 30, 2021, on August 5, 2021, following NYSE trading. A conference call will occur on August 6, 2021, at 10:00 AM ET for investors to discuss the results. Participants can join via phone or webcast. ProAssurance is recognized as a leading specialty insurer, particularly in healthcare professional liability, with a rating of 'A' (Excellent) by AM Best and 'A-' (Strong) by Fitch Ratings.

ProAssurance Corporation (NYSE:PRA) announced the reelection of board members with 96% support during its Annual Meeting of Shareholders. Shareholders also approved the executive compensation for 2020 with 96% backing and selected Ernst & Young, LLP as the independent auditor for 2021 with over 98% approval. A cash dividend of $0.05 per share was declared, payable on July 14, 2021, to shareholders as of June 29, 2021, with an anticipated total annual dividend of $0.20 per share. Future dividend payments will depend on the Board’s assessment of the company’s financial performance.

ProAssurance Corporation (NYSE:PRA) has appointed Scott C. Syphax and Fabiola Cobarrubias, M.D., to its Board of Directors, effective immediately. Their terms will expire at the 2022 and 2023 Annual Meetings, respectively, where they will seek re-election. Nominated by NORCAL Mutual Insurance Company, both candidates have extensive industry experience. Mr. Syphax is CEO of Syphax Strategic Solutions, while Dr. Cobarrubias has over 25 years in hospitalist services and is the CEO of Pacific Inpatient Medical Group. Their appointments aim to enhance ProAssurance's strategic direction following the NORCAL acquisition.