Proassurance Cp - PRA STOCK NEWS

ProAssurance (NYSE: PRA) will be acquired by The Doctors Company Insurance Group (TDC Group), as announced on March 19, 2025. The transaction is expected to close in the first half of 2026, subject to regulatory approval. Following the acquisition, PRA will be 100% owned by The Doctors Company.

AM Best has confirmed that ProAssurance's Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of 'a+' (Excellent) remain unchanged, with a stable outlook. The ratings reflect ProAssurance's strongest balance sheet strength, adequate operating performance, favorable business profile, and appropriate enterprise risk management.

The merger combines the fourth-largest medical professional liability (MPL) insurance writer (ProAssurance) with the second-largest (TDC Group) in the United States, based on direct premiums written. AM Best will continue monitoring both organizations independently during the extended transaction period.

AM Best has maintained its ratings for The Doctors Company Insurance Group (TDC Group) following the announcement of their planned acquisition of ProAssurance (PRA). The transaction, announced on March 19, 2025, will combine the second and fourth-largest medical professional liability insurers in the United States.

TDC Group maintains its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of 'a+', with a stable outlook. These ratings reflect TDC Group's strongest balance sheet strength, adequate operating performance, neutral business profile, and appropriate enterprise risk management.

The acquisition is expected to close in the first half of 2026, subject to regulatory approval. Upon completion, ProAssurance will become 100% owned by The Doctors Company. AM Best currently anticipates no material changes to TDC Group's rating fundamentals and will continue evaluating both organizations independently during the transaction process.

The Doctors Company, the largest physician-owned medical malpractice insurer, has announced the acquisition of ProAssurance (NYSE: PRA) for $25.00 per share in cash. The deal values ProAssurance at approximately $1.3 billion, representing a 60% premium over ProAssurance's closing price on March 18, 2025.

The combined entity will have assets of approximately $12 billion. The transaction, unanimously approved by ProAssurance's Board of Directors, is expected to close in the first half of 2026, subject to shareholder and regulatory approvals. Upon completion, ProAssurance will become a wholly owned subsidiary of The Doctors Company and will be delisted from the NYSE.

MetLife (NYSE: MET) has confirmed its previously announced first quarter 2025 dividend for its Series A preferred stock. The dividend amount is set at $0.35516415 per share for the floating rate non-cumulative preferred stock (NYSE: MET PRA), which has a liquidation preference of $25 per share.

The dividend will be payable on March 17, 2025, to shareholders of record as of February 28, 2025 (adjusted from March 2, 2025, which falls on a Sunday). The New York Stock Exchange has yet to set an ex-dividend date for the Series A preferred stock.

NexPoint Real Estate Finance (NYSE: NREF) has declared a dividend of $0.53125 per share for its 8.50% Series A Cumulative Redeemable Preferred Stock (NYSE: NREF PRA). The dividend will be distributed on April 25, 2025, to shareholders recorded as of the close of business on April 15, 2025.

ProAssurance (NYSE: PRA) reported strong financial results for Q4 and full-year 2024. The company achieved net income of $16.2 million ($0.31 per diluted share) and operating income of $18.3 million ($0.36 per diluted share) in Q4 2024. Full-year results showed net income of $52.7 million ($1.03 per diluted share).

Key highlights include a Specialty P&C segment combined ratio of 100.9%, a 9% increase in net investment income, and solid returns from partnership investments. Book value per share increased to $23.49 from $21.82 at year-end 2023. The company maintained strong renewal premium increases of 8% in Q4, contributing to a cumulative 65% premium change since 2018. Retention remained solid at 84% for 2024, with 87% retention in the standard physicians Medical Professional Liability business.

ProAssurance (NYSE: PRA) has announced it will release its Fourth-Quarter and Full-Year 2024 financial results after market close on Monday, February 24, 2025. The company will host an investor conference call to discuss these results on Tuesday, February 25, 2025, at 10:00 a.m. ET.

The earnings release and Form 10-K will be available on the company's investor relations website. Investors can participate in the conference call using toll-free number (833) 470-1428 or (404) 975-4839 with access code 927016. A live audio webcast will be accessible via the Events page on the company's website, with a replay available later on February 25.

Flagstar Financial (NYSE: FLG) has announced its quarterly dividend declarations. The company will pay a cash dividend of $0.01 per share on its common stock, payable March 17, 2025, to stockholders of record as of March 7, 2025.

The Board also declared dividends on preferred stocks: $15.94 per share on Series A preferred stock ($0.3984 per depositary share), $3.3333 per share on Series B preferred stock, and $3.3333 per share on Series D Non-Voting Common Equivalent Stock, all payable March 17, 2025.

As of December 31, 2024, Flagstar reported total assets of $100.2 billion, loans of $69.2 billion, deposits of $75.9 billion, and stockholders' equity of $8.2 billion. The bank operates 418 branches across the Northeast, Midwest, Southeast, and West Coast, with 80 private banking teams serving high-net worth clients.

NexPoint Real Estate Finance (NYSE: NREF) has declared a dividend of $0.53125 per share for its 8.50% Series A Cumulative Redeemable Preferred Stock (NYSE: NREF PRA). The dividend will be paid on January 27, 2025, to shareholders who are on record as of January 15, 2025.