ProAssurance : "ProAssurance American Mutual RRG","PNC-AS","2023-12-31" Annual Statutory Statement

Current Year

Prior Year

1

2

3

4

Net Admitted Assets

Net Admitted

Assets

Nonadmitted Assets

(Cols. 1 - 2)

Assets

1. Bonds (Schedule D)

10,194,116

10,194,116

8,431,360

$

0

encumbrances)

4.2 Properties held for the production of income

(less $

0

encumbrances)

4.3 Properties held for sale (less

$

0

encumbrances)

5.

Cash ($

185

, Schedule E-Part 1), cash equivalents

($

2,306,005

, Schedule E-Part 2) and short-term

investments ($

391,564 , Schedule DA)

2,697,754

2,697,754

1,266,450

6.

Contract loans (including $

0 premium notes)

12.

Subtotals, cash and invested assets (Lines 1 to 11)

12,891,870

12,891,870

9,697,810

13.

Title plants less $

0 charged off (for Title insurers

only)

14.

Investment income due and accrued

23,163

23,163

3,709

15.

Premiums and considerations:

15.1 Uncollected premiums and agents' balances in the course of

collection

9,226

1,478

7,748

154,336

15.2 Deferred premiums, agents' balances and installments booked but

deferred and not yet due (including

$

0

earned

but unbilled premiums)

901,635

901,635

782,187

15.3 Accrued retrospective premiums ($

0

) and

contracts subject to redetermination

($

0

)

16.

Reinsurance:

16.1 Amounts recoverable from reinsurers

143,998

143,998

1,925,344

18.1

Current federal and foreign income tax recoverable and interest thereon

310,648

18.2

Net deferred tax asset

32,611

32,611

($

0 )

24.

Health care ($

0 ) and other amounts receivable

25.

Aggregate write-ins for other-than-invested assets

711

711

711

26.

Total assets excluding Separate Accounts, Segregated Accounts and

Protected Cell Accounts (Lines 12 to 25)

14,003,214

1,478

14,001,736

12,874,745

27.

From Separate Accounts, Segregated Accounts and Protected

Cell Accounts

28.

Total (Lines 26 and 27)

14,003,214

1,478

14,001,736

12,874,745

DETAILS OF WRITE-INS

1101.

1102.

1103.

1198.

Summary of remaining write-ins for Line 11 from overflow page

1199.

Totals (Lines 1101 through 1103 plus 1198) (Line 11 above)

2501.

State income taxes recoverable

711

711

711

2502.

2503.

2598.

Summary of remaining write-ins for Line 25 from overflow page

2599.

Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)

711

711

711

1

2

Current Year

Prior Year

1.

Losses (Part 2A, Line 35, Column 8)

1,108,998

823,197

2.

Reinsurance payable on paid losses and loss adjustment expenses (Schedule F, Part 1, Column 6)

3.

Loss adjustment expenses (Part 2A, Line 35, Column 9)

553,028

690,327

4.

Commissions payable, contingent commissions and other similar charges

59,424

8,969

5.

Other expenses (excluding taxes, licenses and fees)

53,927

55,880

6.

Taxes, licenses and fees (excluding federal and foreign income taxes)

37,236

37,115

7.1

Current federal and foreign income taxes (including $

0 on realized capital gains (losses))

37,486

7.2

Net deferred tax liability

8.

Borrowed money $

0

and interest thereon $

0

9.

Unearned premiums (Part 1A, Line 38, Column 5) (after deducting unearned premiums for ceded reinsurance of

$

3,127,173

and including warranty reserves of $

0 and accrued accident and

health experience rating refunds including $

0 for medical loss ratio rebate per the Public Health

Service Act)

100,558

99,956

10.

Advance premium

2,080

4,139

11.

Dividends declared and unpaid:

11.1 Stockholders

11.2 Policyholders

12.

Ceded reinsurance premiums payable (net of ceding commissions)

483,692

674,466

16. Provision for reinsurance (including $

0 certified) (Schedule F, Part 3, Column 78)

19. Payable to parent, subsidiaries and affiliates

127,071

16,765

24.

Capital notes $

0 and interest thereon $

0

25.

Aggregate write-ins for liabilities

168,270

439,441

26.

Total liabilities excluding protected cell liabilities (Lines 1 through 25)

2,731,770

2,850,255

27.

Protected cell liabilities

28.

Total liabilities (Lines 26 and 27)

2,731,770

2,850,255

33.

Surplus notes

10,000,000

10,000,000

34.

Gross paid in and contributed surplus

35.

Unassigned funds (surplus)

1,269,966

24,490

36.

Less treasury stock, at cost:

36.1

0

shares common (value included in Line 30

$

0

)

36.2

0

shares preferred (value included in Line 31

$

0

)

37.

Surplus as regards policyholders (Lines 29 to 35, less 36) (Page 4, Line 39)

11,269,966

10,024,490

38.

Totals (Page 2, Line 28, Col. 3)

14,001,736

12,874,745

DETAILS OF WRITE-INS

2501.

Excess ceding commission liability

168,270

439,441

2502.

2503.

2598.

Summary of remaining write-ins for Line 25 from overflow page

2599.

Totals (Lines 2501 through 2503 plus 2598) (Line 25 above)

168,270

439,441

2901.

2902.

2903.

2998.

Summary of remaining write-ins for Line 29 from overflow page

2999.

Totals (Lines 2901 through 2903 plus 2998) (Line 29 above)

3201.

3202.

3203.

3298.

Summary of remaining write-ins for Line 32 from overflow page

3299.

Totals (Lines 3201 through 3203 plus 3298) (Line 32 above)

1

2

Current Year

Prior Year

1.

UNDERWRITING INCOME

Premiums earned (Part 1, Line 35, Column 4)

247,581

199,660

DEDUCTIONS:

2.

Losses incurred (Part 2, Line 35, Column 7)

290,029

127,192

3.

Loss adjustment expenses incurred (Part 3, Line 25, Column 1)

(64,481)

85,160

4.

Other underwriting expenses incurred (Part 3, Line 25, Column 2)

(616,509)

30,900

5.

Aggregate write-ins for underwriting deductions

6.

Total underwriting deductions (Lines 2 through 5)

(390,961)

243,252

7.

Net income of protected cells

8.

Net underwriting gain (loss) (Line 1 minus Line 6 plus Line 7)

638,542

(43,592)

INVESTMENT INCOME

9.

Net investment income earned (Exhibit of Net Investment Income, Line 17)

382,151

148,246

10.

Net realized capital gains (losses) less capital gains tax of $

0

(Exhibit of Capital Gains (Losses))

11.

Net investment gain (loss) (Lines 9 + 10)

382,151

148,246

OTHER INCOME

12.

Net gain (loss) from agents' or premium balances charged off (amount recovered $

0 amount

charged off $

0 )

(68)

13.

Finance and service charges not included in premiums

14.

Aggregate write-ins for miscellaneous income

1,300

15.

Total other income (Lines 12 through 14)

1,300

(68)

16.

Net income before dividends to policyholders, after capital gains tax and before all other federal and foreign income taxes

(Lines 8 + 11 + 15)

1,021,993

104,586

(Line 16 minus Line 17)

1,021,993

104,586

19.

Federal and foreign income taxes incurred

151,599

(608)

20.

Net income (Line 18 minus Line 19) (to Line 22)

870,394

105,194

CAPITAL AND SURPLUS ACCOUNT

21.

Surplus as regards policyholders, December 31 prior year (Page 4, Line 39, Column 2)

10,024,490

10,304,465

22.

Net income (from Line 20)

870,394

105,194

23.

Net transfers (to) from Protected Cell accounts

24.

Change in net unrealized capital gains or (losses) less capital gains tax of $

40,925

153,955

(491,064)

25.

Change in net unrealized foreign exchange capital gain (loss)

26.

Change in net deferred income tax

73,536

(130,536)

27.

Change in nonadmitted assets (Exhibit of Nonadmitted Assets, Line 28, Col. 3)

147,591

236,431

38.

Change in surplus as regards policyholders for the year (Lines 22 through 37)

1,245,476

(279,975)

39.

Surplus as regards policyholders, December 31 current year (Line 21 plus Line 38) (Page 3, Line 37)

11,269,966

10,024,490

DETAILS OF WRITE-INS

0501.

0502.

0503.

0598.

Summary of remaining write-ins for Line 5 from overflow page

0599.

Totals (Lines 0501 through 0503 plus 0598) (Line 5 above)

1401.

Miscellaneous income

1,300

1402.

1403.

1498.

Summary of remaining write-ins for Line 14 from overflow page

1499.

Totals (Lines 1401 through 1403 plus 1498) (Line 14 above)

1,300

3701.

3702.

3703.

3798.

Summary of remaining write-ins for Line 37 from overflow page

3799.

Totals (Lines 3701 through 3703 plus 3798) (Line 37 above)

1

2

Current Year

Prior Year

1.

Cash from Operations

Premiums collected net of reinsurance

205,534

(268,126)

2.

Net investment income

361,705

144,537

3.

Miscellaneous income

1,300

(68)

4.

Total (Lines 1 through 3)

568,539

(123,657)

5.

Benefit and loss related payments

(1,505,949)

1,751,558

6.

Net transfers to Separate Accounts, Segregated Accounts and Protected Cell Accounts

7.

Commissions, expenses paid and aggregate write-ins for deductions

(727,162)

(594,981)

8.

Dividends paid to policyholders

9.

Federal and foreign income taxes paid (recovered) net of $

0 tax on capital gains (losses)

(196,535)

(68,473)

10.

Total (Lines 5 through 9)

(2,429,646)

1,088,104

11.

Net cash from operations (Line 4 minus Line 10)

2,998,185

(1,211,761)

12.

Cash from Investments

Proceeds from investments sold, matured or repaid:

12.1

Bonds

12.2

Stocks

12.3

Mortgage loans

12.4

Real estate

12.5

Other invested assets

12.6

Net gains or (losses) on cash, cash equivalents and short-term investments

12.7

Miscellaneous proceeds

13.

12.8

Total investment proceeds (Lines 12.1 to 12.7)

Cost of investments acquired (long-term only):

13.1

Bonds

1,566,884

13.2

Stocks

13.3

Mortgage loans

13.4

Real estate

13.5

Other invested assets

13.6

Miscellaneous applications

14.

13.7

Total investments acquired (Lines 13.1 to 13.6)

1,566,884

Net increase/(decrease) in contract loans and premium notes

15.

Net cash from investments (Line 12.8 minus Line 13.7 minus Line 14)

(1,566,884)

16.

Cash from Financing and Miscellaneous Sources

Cash provided (applied):

16.1

Surplus notes, capital notes

16.2

Capital and paid in surplus, less treasury stock

16.3

Borrowed funds

16.4

Net deposits on deposit-type contracts and other insurance liabilities

16.5

Dividends to stockholders

17.

16.6

Other cash provided (applied)

Net cash from financing and miscellaneous sources (Lines 16.1 to 16.4 minus Line 16.5 plus Line 16.6)

18.

RECONCILIATION OF CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS

Net change in cash, cash equivalents and short-term investments (Line 11, plus Lines 15 and 17)

1,431,301

(1,211,761)

19.

Cash, cash equivalents and short-term investments:

19.1

Beginning of year

1,266,450

2,478,211

19.2

End of year (Line 18 plus Line 19.1)

2,697,751

1,266,450

1

2

3

4

Unearned Premiums

Unearned Premiums

Net Premiums

Dec. 31 Prior Year -

Dec. 31 Current

Premiums Earned

Written per

per Col. 3, Last Year's

Year - per Col. 5

During Year

Line of Business

Column 6, Part 1B

Part 1

Part 1A

(Cols. 1 + 2 - 3)

11.1

Medical professional liability-occurrence

15,909

4,820

6,664

14,065

11.2

Medical professional liability-claims-made

232,274

93,707

93,894

232,087

17.1

Other liability-occurrence

1,429

1,429

35.

TOTALS

248,183

99,956

100,558

247,581

1

2

3

4

5

Amount Unearned

Amount Unearned

Reserve for Rate

(Running One Year or

(Running More Than

Credits and

Less from Date of

One Year from Date

Earned

Retrospective

Total Reserve for

Policy)

of Policy)

but

Adjustments Based

Unearned Premiums

Line of Business

(a)

(a)

Unbilled Premium

on Experience

Cols. 1+2+3+4

1.

Fire

2.1

Allied lines

2.2

Multiple peril crop

2.3

Federal flood

2.4

Private crop

2.5

Private flood

3.

Farmowners multiple peril

4.

Homeowners multiple peril

11.1

Medical professional liability-occurrence

6,664

6,664

11.2

Medical professional liability-claims-made

93,894

93,894

35.

TOTALS

100,558

100,558

36.

Accrued retrospective premiums based on experience

37.

Earned but unbilled premiums

38.

Balance (Sum of Lines 35 through 37)

100,558

DETAILS OF WRITE-INS

3401.

3402.

3403.

3498.

Sum. of remaining write-ins for Line 34 from

overflow page

3499.

Totals (Lines 3401 through 3403 plus 3498) (Line

34 above)

1

Reinsurance Assumed

Reinsurance Ceded

6

Direct

2

3

4

5

Net Premiums

Line of Business

Business

From

From

To

To

Written Cols.

(a)

Affiliates

Non-Affiliates

Affiliates

Non-Affiliates

1+2+3-4-5

1.

Fire

2.1

Allied lines

2.2

Multiple peril crop

2.3

Federal flood

2.4

Private crop

2.5

Private flood

3.

Farmowners multiple peril

4.

Homeowners multiple peril

11.1

Medical professional liability-occurrence

318,594

302,685

15,909

11.2

Medical professional liability-claims-made

4,716,589

4,484,315

232,274

31.

Reinsurance-nonproportional assumed property

XXX

32.

Reinsurance-nonproportional assumed liability

XXX

33.

Reinsurance-nonproportional assumed financial lines

XXX

35.

TOTALS

5,035,183

4,787,000

248,183

Losses Paid Less Salvage

5

6

7

8

1

2

3

4

Percentage of Losses

Net Losses

Incurred

Unpaid

Net Losses

Losses Incurred

(Col. 7, Part 2)

Reinsurance

Reinsurance

Net Payments

Current Year

Unpaid

Current Year

to Premiums Earned

Line of Business

Direct Business

Assumed

Recovered

(Cols. 1 + 2 - 3)

(Part 2A, Col. 8)

Prior Year

(Cols. 4 + 5 - 6)

(Col. 4, Part 1)

11.1

Medical professional liability-occurrence

60,000

57,000

3,000

102,380

75,342

30,038

213.6

11.2

Medical professional liability-claims-made

24,561

23,333

1,228

995,973

743,280

253,921

109.4

17.1

Other liability-occurrence

7,405

4,575

2,830

198.0

17.2

Other liability-claims-made

3,240

3,240

31.

Reinsurance-nonproportional assumed property

XXX

32.

Reinsurance-nonproportional assumed liability

XXX

33.

Reinsurance-nonproportional assumed financial lines

XXX

35.

TOTALS

84,561

80,333

4,228

1,108,998

823,197

290,029

117.1

Reported Losses

Incurred But Not Reported

8

9

1

2

3

4

5

6

7

Net Losses Excl. Incurred

Net Losses

Net Unpaid Loss

Line of Business

Reinsurance

Deduct Reinsurance

But Not Reported

Reinsurance

Reinsurance

Unpaid

Adjustment

Direct

Assumed

Recoverable

(Cols. 1+2-3)

Direct

Assumed

Ceded

(Cols. 4+5+6-7)

Expenses

11.1

Medical professional liability-occurrence

655,001

622,251

32,750

900,090

830,460

102,380

51,031

11.2

Medical professional liability-claims-made

18,047,543

17,222,667

824,876

3,857,301

3,686,204

995,973

494,928

13.1

Comprehensive (hospital and medical) individual

(a)

13.2

Comprehensive (hospital and medical) group

(a)

15.1

Vision only

(a)

15.2

Dental only

(a)

15.3

Disability income

(a)

15.4

Medicare supplement

(a)

15.5

Medicaid Title XIX

(a)

15.6

Medicare Title XVIII

(a)

15.7

Long-term care

(a)

15.8

Federal employees health benefits plan

(a)

15.9

Other health

(a)

17.1

Other liability-occurrence

149,510

142,105

7,405

3,864

17.2

Other liability-claims-made

50,000

47,500

2,500

14,786

14,046

3,240

3,205

31.

Reinsurance-nonproportional assumed property

XXX

XXX

32.

Reinsurance-nonproportional assumed liability

XXX

XXX

33.

Reinsurance-nonproportional assumed financial lines

XXX

XXX

35.

TOTALS

18,752,544

17,892,418

860,126

4,921,687

4,672,815

1,108,998

553,028

DETAILS OF WRITE-INS

3401.

3402.

3403.

3498.

Sum. of remaining write-ins for Line 34 from overflow page

3499.

Totals (Lines 3401 through 3403 + 3498) (Line 34 above)

(a) Including $

for present value of life indemnity claims reported in lines 13 and 15.