ProAssurance Net Income Dives 49% in Q1

ProAssurance has reported a net income of $19.3 million for the first quarter of this year, a 49% drop from net income of $37.8 million in the first quarter of 2015. At $220 million, gross premiums written in the first quarter were slightly lower than $221 million in the prior year quarter. A 2.9% growth in gross premiums written in the workers’ compensation segment, to $78 million, as well as a 46.8% increase in gross premiums written in the Lloyd’s segment, were offset by a 3.7% decrease in the Specialty P&C segment during the first quarter, the company said. The combined ...