ProAssurance posts Q1 2023 net loss of $6.2M; diluted EPS -$0.11

PROASSURANCE CORP

2023-Q1 EPS reported -$0.11 revenue$272,675,000

Net loss of $6.2M ($0.11 diluted loss); operating loss of $8.1M ($0.15 diluted loss).
Gross premiums written $316M, down 6% YoY; consolidated combined ratio 113.9%.
Net investment income $30M, up 48% (+$10M vs Q1 2022).
Adjusted book value per share $25.81 as of Mar 31, 2023 (vs $25.99 at Dec 31, 2022).
Unfavorable prior accident year reserve development of $7M.

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