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Dec 31, 2023
ProAssurance Q4 2023 Earnings Report
ProAssurance reported net income and an operating loss for the fourth quarter of 2023.
Key Takeaways
ProAssurance Corporation reported a net income of $6.4 million, or $0.12 per diluted share, and an operating loss of $2.5 million, or $0.05 per diluted share, for the three months ended December 31, 2023. The company's book value per share improved by 7%, driven by after-tax unrealized holding gains from their fixed maturity portfolio.
Gross premiums written decreased by 7% to $209 million.
New business written increased by 103% to $24 million.
Favorable prior accident year reserve development of $3 million was driven primarily by the Segregated Portfolio Cell Reinsurance segment.
Net investment income increased by 17% to $34 million.
Revenue by Segment
Forward Guidance
ProAssurance management will discuss fourth quarter 2023 results during a conference call at 10:00 a.m. ET on Wednesday, February 28, 2024.
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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