ProAssurance Corporation reported a net income of $10.6 million and an operating income of $8.6 million for the three months ended June 30, 2023. The results reflect strong investment returns, while underwriting results indicate ongoing competition and pressures in losses and premiums.
Gross premiums written increased by 1% to $238 million.
New business written increased by 58% to $19 million.
Net investment income increased by 44% to $32 million.
Adjusted book value per share was $26.31 as of June 30, 2023.
No specific forward guidance was provided in the press release.
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