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The Doctors Company, a medical malpractice insurer, said on Wednesday that it has entered into an agreement to acquire ProAssurance for about $1.3 billion.
NAPA, Calif. & BIRMINGHAM, Ala.--(BUSINESS WIRE)--The Doctors Company, the nation's largest physician-owned medical malpractice insurer, and ProAssurance Corporation (NYSE: PRA), an industry-leading specialty insurer with extensive expertise in medical liability, products liability for medical technology and life sciences, and workers' compensation insurance, today announced that they have entered into a definitive agreement under which ProAssurance will be acquired by The Doctors Company. Unde.
PRA's fourth-quarter earnings benefit from higher investment income and lower expenses, partially offset by lower premiums in the Specialty P&C segment.
Citizens Capital Markets analyst Matthew J. Carletti reiterated the Market Outperform rating on ProAssurance Corporation PRA, with a price targe of $20.
ProAssurance Corporation (PRA) Q4 2024 Earnings Call Transcript
While the top- and bottom-line numbers for ProAssurance (PRA) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
ProAssurance (PRA) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to loss of $0.05 per share a year ago.
BIRMINGHAM, Ala.--(BUSINESS WIRE)--ProAssurance Corporation (NYSE: PRA), an industry-leading specialty insurer with extensive expertise in medical professional liability and a core small-cap value equity in the financials sector, today reported net income of $16.2 million, or $0.31 per diluted share, and operating income(1) of $18.3 million, or $0.36 per diluted share, for the three months ended December 31, 2024. For full-year 2024, ProAssurance reported net income of $52.7 million, or $1.03 p.
PRA's fourth-quarter results are likely to have benefited from growing investment income and lower costs.
Besides Wall Street's top -and-bottom-line estimates for ProAssurance (PRA), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2024.