ProAssurance Q2 net income $10.6M ($0.20 EPS); investment income up 44%

PROASSURANCE CORP

2023-Q2 EPS reported $0.08 revenue$564,506,000

Operating income of $8.6M ($0.16 EPS) vs net income $10.6M ($0.20 diluted EPS).
Gross premiums written $238M (+1%); new business $19M (+58% YoY).
Favorable prior year reserve development of $6M; combined ratio 108.2%.
Net investment income $32M, up 44% from $22M in Q2 2022.
Adjusted book value per share $26.31, up from $25.99 at Dec 31, 2022.

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