ProAssurance Corporation (NYSE:PRA) Q1 2021 Earnings Conference Call May 6, 2021 10:00 AM ET Company Participants Ken McEwen – Investor Relations Ned Rand – President and Chief Executive Officer Dana Hendricks – Chief Financial Officer Kevin Shook – President-Workers Compensation Insurance Operations Mike Boguski – President-Specialty Property and Casualty Conference Call Participants Matt Carletti – JMP Securities Greg Peters – Raymond James Bob Farnam – Boenning & Scattergood Paul Newsome – Piper Sandler ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File Number: 0-16533 ProAssurance Corporation (Exact name of registrant as specified in its charter) | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common Stock, par value $0.01 per share | PRA | New York Stock Exchange | Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 1 ...

PROASSURANCE. Treated Fairly Investor Update Fourth Quarter and FY 2020 March 2021 ProAssurance Overview Mission, Vision, & Values The ProAssurance Mission We exist to Protect Others. Our Shared Vision We will be the best in the world at understanding and providing solutions for the risks our customers encounter as healers, innovators, employers, and professionals. Through an integrated family of companies, products, and services, we will be a trusted partner enabling those we serve to focus on their vital ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020, or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number: 001-16533 ProAssurance Corporation (Exact name of registrant as specified in its charter) Delaware 63-1261433 (Stat ...

ProAssurance Corporation (NYSE:PRA) Q4 2020 Earnings Conference Call February 23, 2021 10:00 AM ET Company Participants Ken McEwen - IR Ned Rand - President and CEO Dana Hendricks - CFO Mike Boguski - President-Specialty Property and Casualty Lines Kevin Shook - President-Workers' Compensation Insurance Operations Conference Call Participants Greg Peters - Raymond James Mark Hughes - Truist Paul Newsom - Piper Sandler Gary Ransom - Dowling & Partner Matt Carletti - JMP Mark Hughes - Truist Operator Good mor ...

Investor Update Third Quarter 2020 November ProAssurance Overview Mission, Vision, & Values The ProAssurance Mission We exist to Protect Others. Our Shared Vision We will be the best in the world at understanding and providing solutions for the risks our customers encounter as healers, innovators, employers, and professionals. Through an integrated family of companies, products, and services, we will be a trusted partner enabling those we serve to focus on their vital work. As the employer of choice, we emb ...

ProAssurance Corporation (NYSE:PRA) Q3 2020 Earnings Conference Call November 6, 2020 10:00 AM ET Company Participants Ken McEwen - Investor Relations Ned Rand - President and CEO Dana Hendricks - Chief Financial Officer Mike Boguski - President-Specialty Property and Casualty Lines Kevin Shook - President-Workers' Compensation Insurance Operations Conference Call Participants Greg Peters - Raymond James Mark Hughes - Truist Paul Newsom - Piper Sandler Operator Good morning, everyone. Welcome to ProAssuranc ...

Financial Data and Key Metrics Changes - The company reported a net loss of $18.1 million or a loss of $0.34 per share for Q2 2020, with an operating loss of $32.4 million or $0.60 per share [19] - The consolidated current accident year net loss ratio was 110%, up 21.8 percentage points quarter-over-quarter, primarily due to unusual items [24] - Consolidated net realized investment gains were $20 million in Q2, driven by a recovery in fair value of approximately 40% since Q1 [22] Business Line Data and Key Metrics Changes - The Specialty Property & Casualty segment recorded a loss of $56.6 million, primarily due to a tail policy for a large national healthcare account, resulting in a $45.7 million net underwriting loss [29] - Gross premiums written in the Specialty Property & Casualty segment decreased by 16.3% quarter-over-quarter to $107.1 million [30] - The Workers' Compensation Insurance segment produced operating income of $1 million with a combined ratio of 98.7% for Q2 2020 [50] Market Data and Key Metrics Changes - The company processed approximately $3.7 million of premium reductions and $5.3 million of premium deferrals during the quarter due to the pandemic [45] - The Workers' Compensation segment experienced a 39% decrease in reported claim frequency during the pandemic [53] - The Lloyd's Syndicates reported approximately $1.5 million related to the virus in Q2, with an estimated additional $1.4 million expected in Q3 [70] Company Strategy and Development Direction - The company is focused on strengthening rate levels in its Standard Physician business and executing state strategy initiatives [30] - A comprehensive reunderwriting of the Specialty healthcare book of business is underway, with completion expected by the end of Q3 2020 [32] - The NORCAL transaction is progressing through regulatory approvals, with expectations to close by year-end 2020 [44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of investments and noted that the pandemic has reinforced their mission to protect customers [5][21] - The company is being patient in evaluating investment opportunities amid economic uncertainty due to COVID-19 [24] - Management acknowledged the challenges posed by the pandemic but emphasized ongoing improvements in operational efficiency and underwriting discipline [27][74] Other Important Information - The company allowed cash to build to support business operations and customers during the pandemic [24] - The human resource team successfully implemented remote work plans, allowing 95% of employees to work from home [13] - The company has recognized net favorable prior accident year development of $17.1 million across all segments except the Lloyd's segment [25] Q&A Session Summary Question: Can you discuss the favorable development in the quarter, especially in Specialty P&C? - Management indicated that the favorable development was due to trends emerging better than estimates, with no changes in the reserving process [77][78] Question: What is the magnitude of exposure in the Senior Care business? - Management noted a significant reduction in exposure and premium levels, with only three claims reported related to COVID-19 incidents [82][84] Question: How is competition in the healthcare liability business? - Management described the market as highly competitive, with some states experiencing more aggressive competitors, but noted rate increases achieved in the quarter [89] Question: What is the company's approach to reserving and accident year picks moving forward? - Management emphasized a cautious approach to reserving due to uncertainty, with no changes in their reserve philosophy [92][94] Question: Can you elaborate on changes in terms and conditions for policies? - Management confirmed that changes primarily involve deductibles and other structural adjustments to improve underlying profitability [107][108] Question: Is there any additional exposure expected from the large national healthcare account? - Management confirmed that the reserves were strengthened at year-end, and they do not anticipate additional exposure from this account [112]

ProAssurance Corp (NYSE:PRA) Q1 2020 Earnings Conference Call May 8, 2020 10:00 AM ET Company Participants Ken McEwen - Manager, IR Edward Rand - CEO, President & Director Dana Hendricks - EVP & CFO Michael Boguski - President, Specialty Property & Casualty Kevin Shook - President, Eastern Alliance Insurance Group Conference Call Participants Mark Hughes - SunTrust Robinson Humphrey Charles Peters - Raymond James & Associates Ronald Bobman - Capital Returns Management Matthew Carletti - JMP Securities Jon N ...

ProAssurance Corporation (NYSE:PRA) Q4 2019 Earnings Conference Call February 21, 2020 10:00 AM ET Company Participants Ken McEwen - Investor Relations Manager Ned Rand - President & Chief Executive Officer Dana Hendricks - Chief Financial Officer Mike Boguski - President, Specialty P&C Kevin Shook - President, Workers' Compensation Insurance Operations Jeff Bowlby - ARM, Chief Marketing Officer Conference Call Participants Amit Kumar - Buckingham Research Matt Carletti - JMP Greg Peters - Raymond James Mar ...