---
schema_version: "secwatch.filing_event.v1"
accession: "0001777343-22-000004"
form_type: "8-K"
ticker: "PRA"
cik: "0001127703"
company_name: "PROASSURANCE CORP"
filed_at: "2022-02-25T23:59:59+00:00"
generated_at: "2026-06-27T04:02:34.171067+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.82
calibrated_materiality_score: 0.82
confidence: "high"
source: SEC EDGAR
---

# ProAssurance reports FY2021 gross premiums $960M, NORCAL acquisition closed, renewal rates up 8%

## Summary
- NORCAL acquisition added ~$300M GPW and ~$1.6B investments; ProAssurance now #3 HCPL insurer in U.S.
- Specialty P&C renewal rate increases: 8% for full year, 9% in Q4; Standard Physicians +8%, Specialty Healthcare +12%.
- Workers' Comp expense ratio down 1.1 points; $4M G&A reduction; closed 58% of 2020 and prior claims in 2021.
- COVID-19 reserve unchanged at $10M IBNR; $1M favorable development in Q3 2021; pandemic exclusions added to Senior Care.
- Debt $425M (16% debt-to-capital); $250M revolving credit facility undrawn; shareholders' equity $1.43B.

## SEC filing metadata
- accession: 0001777343-22-000004
- form_type: 8-K
- ticker: PRA
- cik: 0001127703
- company_name: PROASSURANCE CORP
- filed_at: 2022-02-25T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.82
- calibrated_materiality_score: 0.82
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1127703/000177734322000004/0001777343-22-000004-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1127703/000177734322000004/pra-20220225.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001777343-22-000004
- JSON: https://secwatch.observer/filing/0001777343-22-000004.json
- Plain text: https://secwatch.observer/filing/0001777343-22-000004.txt

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