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PRA 
ProAssurance Corporation (PRA)
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Upturn Advisory Summary
12/22/2025: PRA (2-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Below Average Performance
These Stocks/ETFs, based on Upturn Advisory, often underperform the market, warranting careful consideration before investing.
Number of Analysts
4 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $25
1 Year Target Price $25
| 0 | Strong Buy |
| 0 | Buy |
| 4 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 12.07% | Avg. Invested days 74 | Today’s Advisory WEAK BUY |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 12/22/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.24B USD | Price to earnings Ratio 37.08 | 1Y Target Price 25 |
Price to earnings Ratio 37.08 | 1Y Target Price 25 | ||
Volume (30-day avg) 4 | Beta 0.12 | 52 Weeks Range 13.90 - 24.41 | Updated Date 12/22/2025 |
52 Weeks Range 13.90 - 24.41 | Updated Date 12/22/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.65 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 3.01% | Operating Margin (TTM) 5.08% |
Management Effectiveness
Return on Assets (TTM) 0.93% | Return on Equity (TTM) 2.66% |
Valuation
Trailing PE 37.08 | Forward PE 16.86 | Enterprise Value 1621455796 | Price to Sales(TTM) 1.11 |
Enterprise Value 1621455796 | Price to Sales(TTM) 1.11 | ||
Enterprise Value to Revenue 1.47 | Enterprise Value to EBITDA - | Shares Outstanding 51413643 | Shares Floating 47509805 |
Shares Outstanding 51413643 | Shares Floating 47509805 | ||
Percent Insiders 1.27 | Percent Institutions 98.59 |
Upturn AI SWOT
ProAssurance Corporation
Company Overview
History and Background
ProAssurance Corporation (NYSE: PRA) was founded in 1976 as a subsidiary of the American Medical Association. It began by offering medical liability insurance. Over the years, ProAssurance has expanded its product offerings and geographic reach through organic growth and strategic acquisitions, evolving into a diversified specialty insurance provider. Key milestones include its initial public offering in 1991 and significant acquisitions that have broadened its market presence in areas like workers' compensation and professional liability.
Core Business Areas
- Specialty Insurance: ProAssurance underwrites specialty insurance products, primarily focusing on professional liability for healthcare professionals and organizations, as well as specialty commercial casualty insurance. This includes medical malpractice insurance, directors and officers (D&O) liability, and other niche liability coverages.
- Workers' Compensation: Through its acquisition of Workers' Compensation and Professional Insurance Company (WCPI), ProAssurance offers workers' compensation insurance in various states, catering to businesses seeking coverage for employee injuries and illnesses.
- Specialty P&C Insurance: This segment encompasses a broad range of property and casualty insurance products beyond core medical and workers' comp lines, often tailored to specific industries or risks.
Leadership and Structure
ProAssurance Corporation is led by a Board of Directors and a senior management team responsible for its strategic direction and operational execution. The organizational structure is designed to support its diverse insurance lines and geographic operations, with dedicated teams managing underwriting, claims, investments, and corporate functions.
Top Products and Market Share
Key Offerings
- Medical Professional Liability Insurance: This is ProAssurance's foundational product, providing coverage to physicians, hospitals, and other healthcare providers against medical malpractice claims. The market for medical professional liability is highly competitive, with key competitors including The Medical Protective Company (part of The Cincinnati Insurance Company), SVMIC, and various other specialized insurers. While precise market share data is often proprietary, ProAssurance is a significant player in this segment, particularly in certain states and specialties.
- Specialty Commercial Casualty Insurance: This broad category includes products like Directors & Officers (D&O) liability, employment practices liability (EPLI), and other professional liability coverages for businesses. Competitors vary widely depending on the specific sub-segment but include large national insurers and specialized underwriting agencies. ProAssurance aims to capture niche markets within this segment.
- Workers' Compensation Insurance: ProAssurance offers workers' compensation coverage, primarily in certain states. This market is mature and highly competitive, with major players like The Hartford, Liberty Mutual, and numerous regional insurers. ProAssurance's market share in this segment is more localized and less dominant than in medical professional liability.
Market Dynamics
Industry Overview
The specialty insurance industry, including professional liability and workers' compensation, is characterized by its cyclical nature, driven by economic conditions, regulatory changes, and the frequency and severity of claims. The healthcare sector, a primary focus for ProAssurance, faces ongoing challenges related to rising medical costs and evolving healthcare delivery models. The workers' compensation market is influenced by employment trends and workplace safety regulations.
Positioning
ProAssurance positions itself as a provider of specialty insurance solutions with a strong focus on underwriting discipline and claims management expertise. Its competitive advantages lie in its deep understanding of the healthcare industry's risks and its ability to offer tailored products and services. The company also benefits from a diversified portfolio across different insurance lines and geographic regions, though it faces intense competition from larger, more diversified insurers as well as smaller, niche players.
Total Addressable Market (TAM)
The total addressable market for specialty insurance, including medical professional liability, D&O, and workers' compensation, is substantial, estimated to be in the hundreds of billions of dollars annually. ProAssurance operates within specific segments of this large market, aiming to achieve profitable growth by focusing on areas where it has a competitive edge and deep expertise. Its current market share represents a fraction of the overall TAM, indicating significant room for expansion through organic growth and strategic initiatives.
Upturn SWOT Analysis
Strengths
- Strong expertise in medical professional liability insurance.
- Diversified product portfolio across different specialty lines.
- Established reputation and long-standing client relationships.
- Focus on underwriting profitability and claims management.
- Experienced management team.
Weaknesses
- Exposure to the volatile healthcare industry.
- Competition from larger, more diversified insurers.
- Limited brand recognition outside of its core specialties.
- Potential for capital volatility due to investment portfolio.
Opportunities
- Expansion into new geographic markets or specialty lines.
- Leveraging technology to improve underwriting efficiency and customer experience.
- Strategic acquisitions to enhance market position or product offerings.
- Increasing demand for cybersecurity and D&O liability insurance.
- Growth in the healthcare sector's demand for specialized insurance.
Threats
- Rising medical inflation and healthcare litigation trends.
- Increased competition leading to premium erosion.
- Adverse changes in regulatory or legal environments.
- Economic downturns impacting policy demand and investment returns.
- Cybersecurity threats and data breaches.
Competitors and Market Share
Key Competitors
- The Medical Protective Company (part of The Cincinnati Insurance Company)
- SVMIC
- CNA Financial Corporation (CNA)
- The Hartford Financial Services Group (HIG)
- Liberty Mutual Insurance
Competitive Landscape
ProAssurance operates in a highly competitive landscape. Its advantages include its specialized expertise in medical professional liability and strong customer relationships. However, it faces challenges from larger, more diversified competitors with greater financial resources and broader product offerings. The company must continuously differentiate itself through superior underwriting, claims service, and innovative product development to maintain and grow its market share.
Major Acquisitions
Workers' Compensation and Professional Insurance Company (WCPI)
- Year: 2014
- Acquisition Price (USD millions):
- Strategic Rationale: This acquisition expanded ProAssurance's presence in the workers' compensation market, diversifying its product offerings and geographic reach.
NORCAL Mutual Insurance Company
- Year: 2022
- Acquisition Price (USD millions): 750
- Strategic Rationale: This significant acquisition strengthened ProAssurance's position in the medical professional liability market, creating a larger and more diversified entity with enhanced scale and capabilities.
Growth Trajectory and Initiatives
Historical Growth: ProAssurance has experienced historical growth primarily through strategic acquisitions that have expanded its market presence and product lines. Organic growth has also been a factor, driven by its established position in core markets and its ability to attract new business. Revenue and earnings growth have been influenced by underwriting cycles and the performance of its investment portfolio.
Future Projections: Future growth for ProAssurance is expected to be driven by its strategy of disciplined underwriting, efficient claims management, and continued exploration of strategic acquisitions. Analyst estimates for future earnings and revenue growth are available and should be consulted for specific projections. The company aims to capitalize on opportunities in its specialty insurance segments.
Recent Initiatives: Recent initiatives by ProAssurance likely include efforts to enhance its digital capabilities, streamline operations, and potentially pursue strategic partnerships or acquisitions that align with its long-term vision. The company may also be focusing on optimizing its investment portfolio and adapting to evolving regulatory landscapes.
Summary
ProAssurance Corporation is a well-established specialty insurance provider with a strong foundation in medical professional liability. The company's strategic acquisitions have broadened its market reach and product diversification. While it benefits from its niche expertise and disciplined underwriting, ProAssurance faces significant competition and the inherent volatilities of the insurance and healthcare industries. Continued focus on operational efficiency, risk management, and strategic growth opportunities will be crucial for its future success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- ProAssurance Corporation Investor Relations
- SEC Filings (10-K, 10-Q)
- Financial News Outlets (e.g., Bloomberg, Reuters)
- Industry Analysis Reports
Disclaimers:
The information provided is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Financial data is subject to change. Projections and estimates are not guarantees of future performance. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About ProAssurance Corporation
Exchange NYSE | Headquaters Birmingham, AL, United States | ||
IPO Launch date 1991-09-04 | President, CEO & Director Mr. Edward Lewis Rand Jr., CPA | ||
Sector Financial Services | Industry Insurance - Property & Casualty | Full time employees 1036 | Website https://www.proassurance.com |
Full time employees 1036 | Website https://www.proassurance.com | ||
ProAssurance Corporation, through its subsidiaries, provides property and casualty insurance, and reinsurance products in the United States. It operates through Specialty Property and Casualty, Workers' Compensation Insurance, and Segregated Portfolio Cell Reinsurance segments. The company offers professional liability insurance to healthcare providers and institutions, and attorneys and their firms; medical technology liability insurance to medical technology and life sciences companies; and custom alternative risk solutions, including assumed reinsurance, loss portfolio transfers, and captive cell programs for healthcare professional liability insureds. It also provides workers' compensation insurance products, such as guaranteed cost policies, policyholder dividend policies, retrospectively rated policies, and deductible policies, as well as alternative market solutions that include program design, fronting, claims administration, risk management, SPC rental, asset management, and SPC management services for individual companies, agencies, groups, and associations. It markets its products through independent agencies and brokers, as well as an internal business development team. ProAssurance Corporation was founded in 1976 and is headquartered in Birmingham, Alabama.
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