AM Best Comments on Credit Ratings of ProAssurance Group Members and ProAssurance Corporation Following Announced Acquisition by The Doctors Company Insurance Group
AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a+" (Excellent) of the members of ProAssurance Group (ProAssurance) are unchanged following the March 19, 2025, announcement that all outstanding shares of ProAssurance Corporation (PRA) (NYSE:PRA) (Birmingham, AL) will be acquired by The Doctors Company Insurance Group (TDC Group). The outlook of ProAssurance's Credit Ratings (ratings) is stable.
The ratings reflect ProAssurance's balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favorable business profile and appropriate enterprise risk management.
ProAssurance is the fourth-largest writer of medical professional liability (MPL) insurance in the United States (based on direct premiums written) while TDC Group is the second largest. PRA is publicly traded on the New York Stock Exchange and will be 100% owned by The Doctors Company, An Interinsurance Exchange, the lead member of TDC Group, following the conclusion of the transaction, which is expected to close within the first half of 2026 pending regulatory approval.
AM Best does not expect the transaction to have any material change to ProAssurance's rating fundamentals at this time. Both ProAssurance and TDC Group maintain current Long-Term ICRs of "a+" (Excellent) with stable outlooks. Given the extended nature of the transaction, AM Best will continue to evaluate each of these organizations independently while monitoring the progress and the effects of this transaction over time. As more detailed information becomes available, AM Best will reassess the ratings of both organizations taking into consideration the planned synergies and efficiencies gained from the transaction.
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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