- ProAssurance Corporation
Infobox_Company | company_name = ProAssurance Corporation
company_
company_type = Public (NYSE|PRA)| foundation =1975
location = Birmingham,Alabama USA
key_people = W. Stancil Starnes,Chief Executive Officer
Edward L. Rand Jr.,Chief Financial Officer
industry = Property & Casualty Insurance
products = Insurance
revenue = profit$737 millionUSD (2006 )
num_employees = 589 (2006 )
slogan = Ever Vigilant.
homepage = [http://www.proassurance.com/ http://www.proassurance.com/]ProAssurance Corporation, headquartered in Birmingham,
Alabama , is a property and casualty company that sells professional liability insurance to doctors. The company was founded in1975 as Medical Assurance. The name ProAssurance was created in2001 when Medical Assurance merged with Professionals Group. The company is currently the fourth largest medical professional liability insurance writer and has over $4.5 billion in assets. [ [http://www.proassurance.com/ir_home.aspx ProAssurance History] ] [" [http://www.insurancejournal.com/news/east/2005/07/14/57269.htm D.C. Department Approves ProAssurance Acquisition of NCRIC Inc.; Aug. 2 Vote Scheduled] , Insurance Journal", July 14, 2005]On
November 7 ,2005 the company sold its personal lines insurance operations, known as MEEMIC Insurance Company, toGMAC for $400 million. Of the $400 million, $327 million was to be paid in cash, an $73 million was to be in capital that was held in MEEMIC. [" [http://www.bizjournals.com/birmingham/stories/2005/11/07/daily1.html?jst=s_cn_hl ProAssurance sells personal lines business to GMAC subsidiary] Birmingham Business Journal", November 7, 2005] The sale was completed onJanuary 4 ,2006 . [" [http://www.bizjournals.com/birmingham/stories/2006/01/02/daily12.html ProAssurance closes sale of MEEMIC Insurance] , Birmingham Business Journal", January 4, 2006]The company operates five principal subsidiaries: The Medical Assurance Company, ProNational Insurance Company, PIC Wisconsin, Red Mountain Casualty Insurance Company, and NCRIC.
References
External links
* [http://www.proassurance.com ProAssurance Website]
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