ProAssurance Corporation (NYSE:PRA) Files An 8-K Regulation FD DisclosureITEM 7.01 REGULATION FD DISCLOSURES
On October 2, 2017, ProAssurance issued a news release disclosing our preliminary loss estimates in connection with Hurricanes Harvey, Irma and Maria, which affected Texas, several states in the southeast United States and islands in the Caribbean. We estimate ProAssurance’s net pre-tax losses from these storms will be approximately $7.5 million and are net of reinsurance and reinstatement premiums. The losses are within our Lloyds Syndicate segment and result from ProAssurance’s 58% participation in the business written by Lloyd’s Syndicate 1729. Results of our participation in Syndicate 1729 are normally reported on a one-quarter lag. However, we will accelerate our reporting of these storm-related losses in the third quarter of 2017.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
The information we are furnishing under Items 7.01 and 9.01 of this Current Report on Form 8K, including Exhibit 99.1, are not be deemed to be “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) as amended, or otherwise subject to the liability of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
PROASSURANCE CORP ExhibitEX-99.1 2 stormsestimatereleasefinal.htm NEW RELEASE DISCLOSING PRELIMINARY STORM LOSS ESTIMATES Exhibit NEWS RELEASEFor More Information:Frank B. O’Neil,…To view the full exhibit click here
About ProAssurance Corporation (NYSE:PRA)
ProAssurance Corporation is a holding company for property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, liability insurance for medical technology and life sciences risks, and workers’ compensation insurance. It operates in four segments: Specialty property and casualty, which includes its professional liability business, and medical technology and life sciences business; Workers’ compensation, which includes its workers’ compensation business, which it provides for employers, groups and associations; Lloyd’s syndicate, which includes operating results from its participation in Lloyd’s Syndicate 1729, and Corporate. In addition, the Company is also a provider for Lloyd’s of London Syndicate 1729, which writes a range of property and casualty insurance, and reinsurance lines.
