--(BUSINESS WIRE)--
ProAssurance Corporation (NYSE: PRA) is an insurance holding
company formed in June 2001 through the merger of Medical Assurance,
Inc. and Professionals Group, Inc., two of the leading specialty
property/casualty insurance groups in America. ProAssurance is listed
under the symbol "PRA" on the New York Stock Exchange.
ProAssurance boasts more than $3.2 billion in assets and more than
$750 million in gross written premiums, and licenses to write business
in over 45 states. The Company is the nation's fourth largest writer
of medical professional liability insurance and one of the 100 largest
insurance groups in America.
Medical Assurance and Professionals Group were leaders in the
medical professional liability industry's move toward consolidation.
Measured either by frequency of acquisition or success of
consolidation, each company compiled an impressive track record.
Working together, the leadership of the combined companies will build
on their successful experience by forming a professional liability
group serving the evolving needs of the health care industry.
Through its wholly owned professional liability subsidiaries, The
Medical Assurance Company, Inc., ProNational Insurance Company, Red
Mountain Casualty Insurance Company, Inc. and Medical Assurance of
West Virginia, ProAssurance insures more than 27,500 physicians and
other health care risks. ProAssurance's personal lines subsidiary,
MEEMIC Insurance Company provides auto, homeowners, umbrella, and boat
coverage, primarily for educational employees and their families in
Michigan, where it's the tenth largest writer of personal automobile
insurance.
Major rating agencies recognize the financial strength and
stability of the Company's core operating subsidiaries. A.M. Best
assigns a rating of "A-" (Excellent) to ProAssurance and our principal
subsidiaries, Standard & Poor's assigns our principal professional
liability carriers a rating of "A-" ("Strong), and Fitch assigns a
rating of "A-" to our subsidiaries The Medical Assurance Company,
ProNational Insurance Company and MEEMIC Insurance Company.
Company: ProAssurance Corporation
Headquarters Address: 100 Brookwood Place
Birmingham, AL 35242
Main Telephone: 205.877.4400
Ticker: PRA(NYSE)
Type of Organization: Public
Industry: Professional Services: Insurance
Key Executives: Chairman: Derrill Crowe
President: Victor Adamo
Investor Relations
Contact: Frank O'Neil
Phone: 205.877.4461
Email: foneil@proassurance.com
Public Relations
Contact: Frank O'Neil
Phone: 205.877.4461
Email: foneil@proassurance.com CONTACT:
SOURCE: ProAssurance Corporation