NYSE$PRA
ProAssurance Corporation · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
ProAssurance reported its fourth quarter and full-year 2024 financial results, showing progress in profitability and strong investment income.
ProAssurance Corporation reported net income of $16.2 million and operating income of $18.3 million for the fourth quarter of 2024. The Specialty P&C segment showed progress towards sustained profitability with a combined ratio of 100.9%. Net investment income increased by 9%, benefiting from the current interest rate environment.
- Specialty P&C segment's combined ratio improved to 100.9%, indicating progress towards sustained profitability.
- Net investment income increased by 9%, driven by the current interest rate environment and portfolio maturity.
- Earnings were positively impacted by solid returns from limited partnership investments.
- Book value per share increased to $23.49, up $1.67 from year-end 2023, due to net income and unrealized holding gains.
Headline financials
Revenue & EPS history
ProAssurance · Revenue · Quarterly
$290M
Revenue by segment
ProAssurance · $272M total across 4 segments · Q4 2024
- Specialty P&C$187M—68.7%
- Workers' Compensation Insurance$43.3M—15.9%
- Corporate$29.5M—10.9%
- Segregated Portfolio Cell Reinsurance$12.4M—4.5%
Forward guidance
ProAssurance is confident in the cyclical insurance markets' response to their efforts, but plans to continue shrinking in areas with market headwinds to achieve long-term sustained profitability across all business segments.
Tailwinds
- Confidence in the cyclical insurance markets' response to company efforts.
- Continued focus on price adequacy and disciplined underwriting.
- Ability to target profitable segments within healthcare.
- Strong renewal pricing and solid retention rates.
- Favorable claims-closing trends in Medical Professional Liability business.
Headwinds
- Continued shrinking in some areas due to market headwinds.
- Ongoing challenges with severity trends in the Medical Professional Liability line.
- New business below prior year levels due to focus on risk selection and pricing.
- Higher compensation costs impacting underwriting expense ratio.
- Increased severity-related claim activity in Segregated Portfolio Cell Reinsurance segment.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2024
-0.4%
Avg return
Earnings day
-1.1%
Avg return
5 days after
-0.7%
Avg return
30 days after
56%
38 / 68 earnings
Positive
+18.1%
Q2 2024
Best reaction
-22.1%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | +0.2% | -0.5% | |
| Q4 2025 | +0.4% | +0.6% | +1.3% | |
| Q3 2025 | +0.2% | +0.3% | -0.4% | |
| Q1 2025 | -0.2% | +0.2% | +0.8% | |
| Q4 2024 | +14.3% | +10.8% | +65.5% | |
| Q3 2024 | +3.0% | +3.7% | +2.5% | |
| Q2 2024 | +18.1% | +15.5% | +14.6% | |
| Q1 2024 | +9.6% | +6.9% | +0.7% | |
| Q4 2023 | -4.7% | +0.2% | -0.8% | |
| Q3 2023 | -22.1% | -27.6% | -27.7% | |
| Q2 2023 | +8.2% | +8.2% | +3.7% | |
| Q1 2023 | -21.5% | -21.3% | -22.5% | |
| Q4 2022 | +4.7% | +3.7% | -5.9% | |
| Q3 2022 | -12.7% | -11.2% | -14.4% | |
| Q2 2022 | +6.1% | +6.7% | -4.3% | |
| Q1 2022 | -12.7% | -15.0% | -8.0% | |
| Q4 2021 | +1.1% | -0.9% | +3.4% | |
| Q3 2021 | -0.9% | -2.0% | -6.3% | |
| Q2 2021 | +5.4% | +17.5% | +23.7% | |
| Q1 2021 | +1.1% | -3.1% | -6.8% | |
| Q4 2020 | +5.0% | +5.6% | +13.7% | |
| Q3 2020 | -10.2% | +2.0% | +8.6% | |
| Q2 2020 | -2.1% | -5.1% | -12.2% | |
| Q1 2020 | -18.0% | -22.1% | -17.0% | |
| Q4 2019 | -0.2% | -5.4% | -22.7% | |
| Q3 2019 | +1.4% | -1.6% | -5.3% | |
| Q2 2019 | -0.6% | +1.6% | +3.7% | |
| Q1 2019 | -0.9% | +4.2% | +6.7% | |
| Q4 2018 | -3.7% | -9.3% | -22.3% | |
| Q3 2018 | +4.2% | -0.4% | -4.9% | |
| Q2 2018 | +5.5% | +6.8% | +16.1% | |
| Q1 2018 | -13.5% | -12.7% | -17.2% | |
| Q4 2017 | -6.9% | -5.4% | -7.5% | |
| Q3 2017 | +6.1% | +5.5% | +7.7% | |
| Q2 2017 | -5.0% | -6.0% | -10.7% | |
| Q1 2017 | +1.1% | -2.4% | -1.0% | |
| Q4 2016 | +8.9% | +4.9% | +4.0% | |
| Q3 2016 | -2.5% | -1.6% | +10.6% | |
| Q2 2016 | +2.4% | +5.4% | +5.7% | |
| Q1 2016 | +1.1% | — | — | |
| Q4 2015 | -3.3% | — | — | |
| Q3 2015 | -0.9% | — | — | |
| Q2 2015 | +0.1% | — | — | |
| Q1 2015 | -3.5% | — | — | |
| Q4 2014 | +0.1% | — | — | |
| Q3 2014 | -4.9% | — | — | |
| Q2 2014 | -0.4% | — | — | |
| Q1 2014 | -0.6% | — | — | |
| Q4 2013 | -2.2% | — | — | |
| Q3 2013 | +2.7% | — | — | |
| Q2 2013 | -6.3% | — | — | |
| Q1 2013 | +0.1% | — | — | |
| Q4 2012 | +0.9% | — | — | |
| Q3 2012 | -1.9% | — | — | |
| Q2 2012 | +0.9% | — | — | |
| Q1 2012 | +1.5% | — | — | |
| Q4 2011 | +5.7% | — | — | |
| Q4 2010 | +5.7% | — | — | |
| Q3 2011 | +2.0% | — | — | |
| Q2 2011 | +1.8% | — | — | |
| Q1 2010 | +0.4% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q4 2008 | +8.2% | — | — | |
| Q3 2009 | +4.2% | — | — | |
| Q3 2010 | +4.2% | — | — | |
| Q2 2010 | -3.5% | — | — | |
| Q2 2009 | -3.5% | — | — | |
| Q4 2009 | -3.5% | — | — |
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