ProAssurance reports Q4 net income of $6.4M but operating loss; new business jumps 103%

PROASSURANCE CORP

2023-FY EPS reported -$0.73 revenue$1,137,212,000

Net income of $6.4M ($0.12 diluted EPS); operating loss of $2.5M (-$0.05 diluted EPS).
Gross premiums written $209M (-7% YoY); new business $24M (+103% YoY).
Consolidated combined ratio 112.0%; operating ratio 98.4%.
Net investment income $34M (+17%); book value per share $21.82 (+7% from unrealized gains $88M after-tax).
Favorable prior accident year reserve development $3M from Segregated Portfolio Cell Reinsurance.

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 0.9

PROASSURANCE CORP reported the quarter and year ended December 31, 2023 results: net income $6.4 million, EPS $0.12 per diluted share.

Period: the quarter and year ended December 31, 2023
Net income: $6.4 million
EPS: $0.12 per diluted share
Result: reported results

Exact text from the filing

ProAssurance Reports Results for Fourth Quarter 2023 BIRMINGHAM, AL – (BUSINESSWIRE) – February 27, 2024 – ProAssurance Corporation (NYSE: PRA) reports net income of $6.4 million, or $0.12 per diluted share, and an operating loss (1) of $2.5 million, or $0.05 per diluted share, for the three months ended December 31, 2023.

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Source: SEC EDGAR

accession 0001875246-24-000007

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