ProAssurance Corp 2025年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedMarch 31, 2025or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto Commission File Number:0-16533 ProAssurance Corporation (Exact name of registrant as specified in its charter) 63-1261433 Delaware(State or other jurisdiction ofincorporation or organization) (I.R.S. Employer Identification No.) 100 Brookwood Place,Birmingham,AL(Address of principal executive offices) (205)877-4400(Registrant’s telephone number,including area code) (Former name, former address and formerfiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and(2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company,"and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Acceleratedfiler☐Non-accelerated filer☐Smallerreportingcompany☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒As of May1, 2025, there were51,292,333shares of the registrant’s common stock outstanding. Glossary of Terms and Acronyms When the following terms and acronyms appear in the text of this report, they have the meanings indicated below. Caution Regarding Forward-Looking Statements Any statements in this Form 10-Q that are not historical facts or explicitly stated as an opinion are specifically identified as forward-looking statements. These statements are based upon our estimates and anticipation of future events and are subject to significant risks,assumptions and uncertainties that could cause actual results to vary materially from the expected results described in the forward-lookingstatements. Forward-looking statements are identified by words such as, but not limited to, "anticipate," "believe," "continue," "could,""estimate," "expect," "hope," "hopeful," "intend," "likely," "may," "optimistic," "plan," "possible," "potential," "preliminary," "project,""should," "will," "would" and other analogous expressions. There are numerous factors that could cause our actual results to differmaterially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events andtrends are expressly designated as forward-looking statements as are sections of this Form 10-Q that are identified as giving our outlook onfuture business. Forward-looking statements relating to our business include among other things: statements concerning future liquidity and capitalrequirements, investment valuation and performance, return on equity, financial ratios, net income, premiums, losses and loss reserve,premium rates and retention of current business, competition and market conditions, the expansion of product lines, the development oracquisition of business in new geographical areas, the pricing or availability of acceptable reinsurance, actions by regulators and ratingagencies, court actions, legislative actions, payment or performance of obligations under indebtedness, payment of dividends and othermatters. These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, thefollowing factors that could affect the actual outcome of future events: lchanges in general economic conditions, including the impact of inflation, including medical and social inflation, andunemployment;lregulatory, legislative and judicial actions or decisions that could affect our business plans or operations;lthe enactment or repeal of tort reforms;lformation or dissolution of state-sponsored insurance entities providing coverages now offered by ProAssurance which couldremove or add s