ProAssurance Corp (PRA) Q3 2024 Earnings Call Highlights: Strong Reserve Development Amidst ... [Yahoo! Finance]
ProAssurance Corporation (PRA)
Last proassurance corporation earnings: 2/20 04:25 pm
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Source: Yahoo! Finance
ProAssurance Corp ( NYSE:PRA ) reported operating earnings of $17.3 million for the third quarter, reflecting a 99.5% combined ratio for its specialty P&C segment. The company benefited from 10.5 points of favorable prior accident year reserve development, particularly in its medical professional liability business. Since 2019, the accident year loss and LAE ratio has improved by more than 20 points due to re-underwriting efforts and renewal premium increases. ProAssurance Corp ( NYSE:PRA ) has increased renewal premiums within its NPL lines by over 65% cumulatively since 2018, with strong retention of profitable small to midsized accounts. Net investment income rose by $5 million or 14%, with new purchase yields in the quarter at 5.2%, significantly higher than the average book yield of 3.6%. Net written premiums for the specialty P&C segment declined due to the decision to discontinue participation in Lloyd's. New business was below last year at $8 million, impacted by
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PRA
News
- ProAssurance Co. (NYSE: PRA) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- ProAssurance Q3 Earnings Beat on Strong Net Investment Income [Yahoo! Finance]Yahoo! Finance
- ProAssurance Co. (NYSE: PRA) had its price target raised by analysts at Truist Financial Co. from $14.00 to $18.00. They now have a "hold" rating on the stock.MarketBeat
- ProAssurance Co. (NYSE: PRA) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- ProAssurance Co. (NYSE: PRA) was downgraded by analysts at Piper Sandler from an "overweight" rating to a "neutral" rating. They now have a $18.00 price target on the stock.MarketBeat
PRA
Earnings
- 11/7/24 - Beat
PRA
Sec Filings
- 11/14/24 - Form SC
- 11/7/24 - Form 10-Q
- 11/7/24 - Form 8-K
- PRA's page on the SEC website