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Sep 30, 2020
ProAssurance Q3 2020 Earnings Report
Reported a net loss due to a goodwill impairment charge but saw positives in operating segments.
Key Takeaways
ProAssurance reported a net loss of $150.0 million for Q3 2020, primarily due to a $161.1 million goodwill impairment charge. Despite the net loss, the company saw positive developments in its operating segments, including improved loss ratios and expense management.
Reported a net loss of $150.0 million, or $2.78 per share, and Non-GAAP operating income of $2.6 million, or $0.05 per share.
Specialty P&C segment saw a reduction in the current accident year net loss ratio due to re-underwriting and restructuring efforts.
Workers’ Compensation Insurance segment made permanent organizational adjustments and recognized favorable loss trends.
Lloyd’s Syndicates segment's combined ratio improved due to higher net favorable development and reduced underwriting expenses.
Revenue by Segment
Forward Guidance
Company did not provide forward guidance in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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