WC is the bright Spot for ProAssurance Amid a 19.1% Net Income Shrinkage in Q1

With revenues falling and expenses rising, ProAssurance's net income dropped 19.1% in the first quarter of 2015. The carrier reported net income of $37.8 million in its first-quarter earnings report on Thursday, down from $46.7 million a year ago. Its revenues declined a 10th of a percent from $208.1 million to $207.8 million – a trend for which loss of investment income was mostly responsible – while its expenses increased 10.7% from $146.6 million to $162.3 million. Losses and loss-adjustment expense accounted for almost all of the cost increase. However, the carrier report...