ProAssurance Warns Settlement Will Impact Q2 Results

ProAssurance Corp. on Tuesday warned investors that a lawsuit settlement will affect its second quarter results, due to be released on Monday. The confidential settlement is over a claims-related matter, the company said in a news release. While much of the settlement will be recovered through reinsurance, the recoveries will be largely offset by additional premiums ceded to reinsurers, ProAssurance said. In addition, ProAssurance said it will be recognizing a $5.2 million pre-tax charge relating to the recognition of the cumulative earnings of unrelated parties, resulting from their partici...