PRA PROASSURANCE CORP
FY2025 10-K
PROASSURANCE CORP (PRA) filed its fiscal year 2025 10-K annual report with the SEC on Feb 23, 2026. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2025 10-K
Business Overview
- • Core business: Specialty property and casualty (P&C) insurance, with focus on medical professional liability (MPL) and workers' compensation segments
- • New 100% quota share reinsurance agreement in Q2 2025 for legal professional liability policies, impacting ceded premiums ratio
Management Discussion & Analysis
- • Revenue details not explicitly disclosed in MD&A provided; gross premiums by product: Specialty P&C 71%, Workers' Compensation 23% of consolidated gross premiums written in 2025
- • No explicit profit/margin % figures given; focus on combined ratio, underwriting profitability and ROE targeting 700 bps above 10-year US Treasury of 11.2% (approx. 18.2% target ROE)
Risk Factors
- • Regulatory risk: expiration of Terrorism Risk Insurance Act (TRIA) at end of 2027 could increase terrorism loss exposure and raise premium costs
- • Geopolitical risk: ongoing exposure to aviation losses linked to Russia’s invasion of Ukraine in open Lloyd’s Syndicate 6131 2021 underwriting year
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