Loading...
•
Dec 31, 2021
ProAssurance Q4 2021 Earnings Report
ProAssurance reported net and operating income for the fourth quarter and year-end 2021.
Key Takeaways
ProAssurance Corporation reported a net income of $32.1 million and an operating income of $33.4 million for the three months ended December 31, 2021. The higher net income was primarily driven by improved underwriting results in the Specialty Property & Casualty segment and strong investment performance. Consolidated gross premiums written increased due to top line growth in the Specialty P&C segment through the NORCAL acquisition.
Gross premiums written of $218.1 million, up 34.8% year-over-year.
Net premiums earned of $273.1 million, up 46.0% year-over-year.
Net favorable prior accident year reserve development of $18.3 million.
Combined ratio excluding transaction-related costs of 96.5%, a 9.3 percentage point improvement year-over-year.
Revenue by Segment
Forward Guidance
The hard work they have put in - including bringing NORCAL on board - is paying off in improved results, and we are enthusiastic about carrying this momentum into 2022.
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...