---
schema_version: "secwatch.filing_event.v1"
accession: "0001706397-23-000010"
form_type: "8-K"
ticker: "PRA"
cik: "0001127703"
company_name: "PROASSURANCE CORP"
filed_at: "2023-11-15T23:59:59+00:00"
generated_at: "2026-06-08T01:58:35.484975+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ProAssurance Q3 net loss $49.4M, $44M goodwill impairment, refinances $250M notes

## Summary
- Net loss of $49.4M in Q3 2023 vs. $9.1M loss in Q3 2022; non-GAAP operating loss of $3.7M.
- Goodwill impairment of $44M from Eastern Insurance acquisition; no effect on operating results.
- Refinanced $250M senior notes with $125M revolver draw and $125M term loan (5.3%/5.5%) due 2028.
- Discontinued participation in Lloyd's Syndicate 1729 effective Dec 31, 2023; segments reorganized.
- Workers' Comp segment had $8M unfavorable development; combined ratio 137.3% in Q3.

## SEC filing metadata
- accession: 0001706397-23-000010
- form_type: 8-K
- ticker: PRA
- cik: 0001127703
- company_name: PROASSURANCE CORP
- filed_at: 2023-11-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1127703/000170639723000010/0001706397-23-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1127703/000170639723000010/pra-20231115.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001706397-23-000010
- JSON: https://secwatch.observer/filing/0001706397-23-000010.json
- Plain text: https://secwatch.observer/filing/0001706397-23-000010.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.