ProAssurance reports Q3 net loss of $49.4M ($0.95/share); operating loss $3.7M

PROASSURANCE CORP

2023-Q3 EPS reported -$0.85 revenue$840,252,000

Net loss of $49.4M ($0.95 diluted EPS); operating loss of $3.7M ($0.07).
Gross premiums written $320M (+4% YoY); new business written $29M (+82%).
Unfavorable prior-year reserve development of $8M related to Workers' Comp.
Consolidated combined ratio 116.7%; operating ratio 103.2%.
Net investment income $33M (+32%); adjusted book value $25.67, down $0.32 since Dec 2022.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

PROASSURANCE CORP reported for the quarter ended September 30, 2023 results: net income net loss of $49.4 million, or $0.95 per diluted share, EPS $0.95 per diluted share.

Period: for the quarter ended September 30, 2023
Net income: net loss of $49.4 million, or $0.95 per diluted share
EPS: $0.95 per diluted share
Result: reported results

Exact text from the filing

the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ̈ 1 ITEM 2.02 RESULTS OF OPERATION AND FINANCIAL CONDITION On November 8, 2023 we issued a news release reporting the results of our operations for the quarter and nine months ended September 30, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROASSURANCE CORP reported for the three months ended September 30, 2023 results: net income net loss of $49.4 million, or $0.95 per diluted share, EPS $0.95 per diluted share.

Period: for the three months ended September 30, 2023
Net income: net loss of $49.4 million, or $0.95 per diluted share
EPS: $0.95 per diluted share
Result: reported results

Exact text from the filing

ProAssurance Reports Results for Third Quarter 2023 BIRMINGHAM, AL – (BUSINESSWIRE) – November 8, 2023 – ProAssurance Corporation (NYSE: PRA) reports a net loss of $49.4 million, or $0.95 per diluted share, and an operating loss (1) of $3.7 million, or $0.07 per diluted share, for the three months ended September 30, 2023.

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Source: SEC EDGAR

accession 0001706397-23-000007

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