Loading...
•
Sep 30, 2021
ProAssurance Q3 2021 Earnings Report
ProAssurance reported net income and operating income for the third quarter of 2021.
Key Takeaways
ProAssurance Corporation reported a net income of $12.2 million and an operating income of $13.8 million for the three months ended September 30, 2021. The company's performance was driven by strong investment results and improved performance in the Specialty P&C segment, offset by lower income from SPCR and Lloyd's Syndicates segments, and a loss in the Workers' Compensation Insurance Segment.
Net premiums earned increased by approximately 40%, driven by the addition of NORCAL premiums to the Specialty Property & Casualty segment.
Net favorable prior accident year reserve development of $8.6 million, with $6.8 million in Specialty P&C.
Consolidated expense ratio decreased by 6 points, with improvement in every segment, primarily reflecting the impact of the NORCAL acquisition.
Net investment result increased by 58.5%, with $19.3 million in net investment income and $15.2 million in equity in earnings of unconsolidated subsidiaries.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...