---
schema_version: "secwatch.filing_event.v1"
accession: "0001875246-24-000012"
form_type: "8-K"
ticker: "PRA"
cik: "0001127703"
company_name: "PROASSURANCE CORP"
filed_at: "2024-03-11T23:59:59+00:00"
generated_at: "2026-06-04T23:40:52.024930+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# ProAssurance posts FY23 net loss of $38.6M; workers' comp combined ratio 121.5%

## Summary
- FY23 non-GAAP operating loss $7.3M ($0.14/diluted share); Q4 operating loss $2.5M ($0.05/share).
- Workers' Comp segment loss $32.5M for FY23 vs $2.4M profit in FY22; net loss ratio rose to 87.1% from 67%.
- Specialty P&C combined ratio worsened to 108.5% in FY23 from 104.1% in FY22.
- Suspended cash dividend in May 2023; executed $50.5M in share repurchases since May 2023.
- Refinanced $250M senior notes in Nov 2023 with $125M revolver draw and $125M term loan at ~5.4%.

## SEC filing metadata
- accession: 0001875246-24-000012
- form_type: 8-K
- ticker: PRA
- cik: 0001127703
- company_name: PROASSURANCE CORP
- filed_at: 2024-03-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1127703/000187524624000012/0001875246-24-000012-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1127703/000187524624000012/pra-20240311.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001875246-24-000012
- JSON: https://secwatch.observer/filing/0001875246-24-000012.json
- Plain text: https://secwatch.observer/filing/0001875246-24-000012.txt

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