ProAssurance reports Q3 operating EPS 34c, consensus 14c

Reports Q3 revenue $285.25M, consensus $316.34M. “Operating earnings for the third quarter reflected our growing confidence in the impact of the actions we have taken over the past several years, with the Specialty P&C segment delivering a combined ratio of 99.5%, including net favorable prior accident year reserve development of 10.5 points,” said Ned Rand, President and Chief Executive Officer of ProAssurance (PRA). He added, “This segment, which is largely made up of our Medical Professional Liability line of business, represents more than 75% of total earned premium. We believe we are ahead of many in this space in achieving rate levels that put us on track to outpace severity trends that remain challenging.”