ProAssurance Boosts Profit by 57% in Q4

ProAssurance Corp. has reported a net income of $54.8 million for the fourth quarter, a 57% increase from $34.9 million in the prior-year quarter. For the full year, net income was $151 million, up 30% from $116 million in 2015. Net premiums written were $165 million in the fourth quarter, a 30% increase from $127 million in the fourth quarter of 2015. For the full year, net premiums written increased 4.1%, reaching $738 million. Workers' compensation gross premiums written increased $5.9 million, or 12.3%, for the quarter, driven primarily by new business, the company said in a news re...