ProAssurance Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 04:19 pm EST
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ProAssurance Corporation reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported revenue was USD 273.08 million compared to USD 309.7 million a year ago. Net loss was USD 9.13 million compared to net income of USD 12.2 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to basic earnings per share from continuing operations of USD 0.23 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to diluted earnings per share from continuing operations of USD 0.23 a year ago.
For the nine months, revenue was USD 811.98 million compared to USD 811.34 million a year ago. Net loss was USD 14.34 million compared to net income of USD 111.98 million a year ago. Basic loss per share from continuing operations was USD 0.27 compared to basic earnings per share from continuing operations of USD 2.08 a year ago. Diluted loss per share from continuing operations was USD 0.27 compared to diluted earnings per share from continuing operations of USD 2.07 a year ago.
ProAssurance Corporation is a specialty insurer with expertise in healthcare professional liability, products liability for medical technology and life sciences, legal professional liability, and workers' compensation insurance. The Company's segments include Specialty P&C, Workers' Compensation Insurance, Segregated Portfolio Cell Reinsurance and Corporate. The Specialty Property and Casualty (Specialty P&C) segment is focused on professional liability insurance and medical technology liability insurance. Professional liability insurance is offered to healthcare providers and institutions and, to a lesser extent, to attorneys and their firms. The Workers' Compensation Insurance segment offers workers' compensation products in approximately 19 states in the East, South and Midwest regions of the continental United States. The Segregated Portfolio Cell Reinsurance segment includes the results of SPCs at Inova Re and Eastern Re, the Company's Cayman Islands SPC operations.
PROASSURANCE CORPORATION 
