PROASSURANCE SPECIALTY INSURANCE COM
Major Rating Factors:
Fair reserve development (4.4 on a scale of 0 to 10) as reserves have generally been sufficient to cover claims. Fair profitability index (3.7). Excellent expense controls. Return on equity has been fair, averaging 7.4% over the past five years.
Other Rating Factors:
Fair overall results on stability tests (3.3) including fair financial strength of affiliated ProAssurance Corp, weak results on operational trends and negative cash flow from operations for 2022. The largest net exposure for one risk is high at 4.5% of capital. Good liquidity (6.7) with sufficient resources (cash flows and marketable investments) to handle a spike in claims. Strong long-term capitalization index (9.8) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Stability Factors:
F - Negative cash flow.
R - Concerns about the financial strength of its reinsurers.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Med mal (67.8%), product liab. (27.1%), other (5.1%)
Licensed in:
All states except PR
Principal Investments:
Investment grade bonds (97.0%), other (3.0%)
Corporate Info
Group Affiliation
ProAssurance Corp
Investment Rating
Company Address
One Church Street
BURLINGTON, VT 5401
BURLINGTON, VT 5401
Phone Number
(703) 652-1300x316
NAIC Number
17400
Website
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