ProAssurance Profits Continue to Climb

ProAssurance, a nationwide medical malpractice insurer with 57,000 insureds that is based in Birmingham,  has a growing presence in Tennessee.  It has done very well the last few years.

In 2005 it had pre-tax income of $109M,  about 17% of revenues.  In 2009 pre-tax income was $319M, about 52% of revenues.   Not bad.  Not bad at all.  Read more here.

The return on equity in 2009 was 14.2%, and shareholder book value has grown by 278% in the last ten years.

What about 2010?  There is a webcast on February 24 and I guess we will find out then.   As of the end of the 3rd quarter, profits were only about 40% of revenues, but last year the 4th quarter was the most profitable quarter of the year.