ProAssurance Net Income Drops 68% in Q4

ProAssurance Corp.’s net income fell by 68% in the fourth quarter, to $17.3 million, despite positive results in the company’s workers’ comp segment. For the full year, net income was $107 million, a 29% decrease from $151 million for full year 2016, the company reported on Wednesday. ProAssurance noted that enactment of the Tax Cuts and Jobs Act resulted in a $10 million charge to tax expense in the fourth quarter, mainly from the revaluation of deferred tax items. In the workers’ comp segment, net premiums written grew by 13% in the fourth quarter, to $53.6 million...