ProAssurance Net Income Surges in Q3 Despite Comp Segment Challenges

ProAssurance Corp. has reported a third quarter net income of $33.8 million, a 229% increase from net income of $10.3 million in the prior-year quarter. For the first nine months of 2016, net income was $96.2 million, up 18% from $81.2 million in the same period last year. The boost to net income came despite an operating loss of $1.3 million for the company’s workers’ compensation segment in the third quarter. Net premiums written fell 3.2% to $54.4 million in the third quarter of this year from $56.2 million in the prior-year quarter. For the first three quarters of ...