Short answer
PROASSURANCE CORP (PRA) filed its Q3 2025 10-Q quarterly report on Nov 4, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $280M (down 2.0% year over year) with net income of $1M.
Q3 2025 key financials · XBRL
- Revenue
- $280M
- −2.0% YoY · +1.0% QoQ
- Net income
- $1M
- −91.2% YoY · −93.4% QoQ
- EPS (diluted)
- $0.03
- −90.6% YoY · −92.9% QoQ
Source: XBRL data from the PROASSURANCE CORP (PRA) Q3 2025 10-Q on SEC EDGAR. USD.
PROASSURANCE CORP Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $279.6M Q3 2025, down $5.7M (2.0%) YoY; 9 months $828.4M, down $31.9M (3.7%) YoY
- Operating income down to $7.9M Q3 2025 vs $16.5M YoY; non-GAAP operating margin 5.2% Q3 2025 vs 6.8% YoY (approximation from ratios)
- Specialty P&C segment net premiums earned $180.8M Q3 2025, down $7.9M (4.2%) YoY; Workers' Comp $41.0M Q3, down $0.9M (2.0%) YoY
- Net loss ratio higher at 79.8% Q3 2025 vs 72.5% YoY; combined ratio 114.7% Q3 2025 vs 105.6% YoY, driven by Specialty P&C’s 10.4 pts increase in calendar year loss ratio
- Cash and investments increased to $4.44B Sept 30, 2025, up $70.4M from Dec 31, 2024; debt stable at $422.8M; $175M revolving credit availability for liquidity
- Management notes 2025 results impacted by ceased syndicate participation, reserve strengthening, and adverse foreign currency fluctuations; near-term outlook cautious with expected ongoing volatility in loss reserves and exposure to medical cost inflation in Workers' Comp segment
Risk Factors
- New acquisition-related risk due to definitive merger agreement with The Doctors Company and regulatory approval uncertainty
- Most material update on transaction risks: potential adverse effects of transaction delays, costs, and termination including termination fees
- Regulatory risk from required approvals, possible additional conditions, and uncertain timing that could halt or modify the acquisition
- Operational risk from management distraction, key personnel retention challenges, and business disruptions during merger integration
- Financial risk of stock price volatility and possible increased transaction costs affecting liquidity and valuation
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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