ProAssurance Results Miss Estimate

(RTTNews) - Specialty insurer ProAssurance Corp (PRA) Wednesday reported third-quarter net earnings of $34.8 million or $0.59 per share compared with $63.4 million or $1.02 per share last year.

Excluding items, operating earnings for the quarter were $0.68 per share compared with $0.88 per share a year ago.

Revenues for the quarter were $203.8 million compared with $181.5 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.74 per share on revenues of $211.9 million for the quarter. Analysts' estimates typically exclude special items.

Combined ratio for the quarter worsened to 86.6% from 71.1% a year ago.

ProAssurance is a specialty insurer focused on healthcare professional liability, products liability for medical technology and life sciences, legal professional liability, and workers' compensation insurance.