ProAssurance reports Q3 operating EPS (7c), consensus 16c

Reports Q3 revenue $275.75M, consensus $310.74M. “Market conditions and judicial trends in our lines of business continue to be a significant headwind to our efforts to return to our desired level of underwriting profitability. We are meeting those challenges head on in the marketplace by taking appropriate rate actions, maintaining our underwriting criteria, effectively managing claims and providing the best-in-class service that has allowed us to attract well-priced new business,” said Ned Rand, President and Chief Executive Officer of ProAssurance. He added, “With our decades of experience in medical professional liability and workers’ compensation we know there is no shortcut to building sustained profitability that can ride out turbulent markets and create profitability over the long term. These are two highly cyclical lines of insurance, and the actions we are taking now will allow us to thrive as market conditions improve over time.”