Mergers & Acquisitions

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Deal Overview

Buyer:
ProAssurance Corporation
Actual Acquirer:
ProAssurance Corporation
Target:
Georgia Lawyers Insurance Company
Deal Type:
Insurance Company
Insurance Sector
Property & Casualty
Agreement Date:
10/14/2008
Announcement Date:
10/15/2008
Announced Deal Value ($ M):
4.30
Announced Deal Value, As Reported ($ M)
4.30
Status:
Completed
Announced Deal Value Per Share ($ )
NA
Completion Date:
2/3/2009

Consideration Breakout
Cash ($M) 4.3

Deal Pricing Ratios

Announcement Completion
Price / Earnings (x) NA NA
Price / Book (%) NA NA
Price / Statutory Net Income (x) NA NA
Price / Earnings (x) NM NM
Price / Capital & Surplus (%) NA NA
Price / Operating Income (x) 122.9 128.3
Price / Net Premiums Written (x) 1.52 1.47
Deal Terms
Description of Consideration

ProAssurance Corporation paid approximately $4.3 million in cash to acquire Georgia Lawyers Insurance Company.

Percent Acquired (%) 100.00
Accounting Method Acquisition
Merger of Equals? No
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
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