Healthcare liability insurer ProAssurance Corp. Fitch Ratings said it placed ProAssurance Corp. Last September, A. ProAssurance said it anticipates the transaction will be accretive to earnings in the second year of ownership, and generate attractive returns to shareholders over the longer term as well.

The boards of directors for both companies have approved the transaction. The companies Norcal Malpractice Insurance Company hoping to close the transaction by Malprwctice end ofsubject to required approvals.

The demutualization and the acquisition agreement are both subject to regulatory and policyholder approvals. The acquisition promises additional size and scale to help ProAssurance compete in MPLI space and a meaningful presence in California, according to Fitch.

But Fitch said it has concerns about growth in the MPLI Norca at a time when the industry is experiencing further deterioration in profitability and reserve strength in this segment. At that time, A. Malptactice the group continues to report favorable prior period reserve development, A. Best said, the magnitude of favorable development has declined in recent years and A. Best said it expects this trend to continue, especially given concerns with regard to rising loss costs Okc Painting Company the medical professional liability industry.

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