secwatch.observer — SEC 8-K summary
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Issuer:     PROASSURANCE CORP (PRA)
CIK:        0001127703
Form:       8-K
Filed at:   2023-06-15T23:59:59+00:00
Accession:  0001910277-23-000015
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ProAssurance reports Q1 2023 net loss of $6.2M, combined ratio of 114.3% in investor presentation
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- Q1 2023 net loss of $6.2M; non-GAAP operating loss of $8.1M ($0.15 diluted).
- Specialty P&C combined ratio 114.3% (vs 105.5% YoY); Workers' Comp combined ratio 107.4% (vs 98.9% YoY).
- Renewal rate increases: Specialty Healthcare +10%, Standard Physicians +7%.
- Net investment income rose to $29.7M from $20.1M YoY; fixed-maturity portfolio yield 2.9%.
- Plans to refinance $250M 5.3% senior notes due Nov 2023 using new credit facility and swaps.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1127703/000191027723000015/0001910277-23-000015-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1127703/000191027723000015/pra-20230614.htm
  HTML page:      https://secwatch.observer/filing/0001910277-23-000015

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer