Shares of ProAssurance Corp. (PRA) rose 6 percent on Monday's after-hours trading after the company posted significantly higher fourth-quarter profit, despite weak revenues and premiums.
The company posted net income of $16.17 million or $0.31 per share, a 153.6 percent surge from last year's $6.38 million or $0.12 per share. The company added that earnings benefited from solid returns from limited partnership investments.
On an adjusted basis, the property and casualty insurer's operating income came in at $18.27 million or $0.36 per share, compared to a loss of $2.77 million or $0.05 per share in the same period a year ago.
Quarterly revenues, however, declined 2.3 percent to $290.10 million from $296.96 million in the prior-year period.
Gross premiums written edged down 0.5 percent from last year to $207.67 million.
Net investment income for the period was up 9.2 percent to $36.81 million from $33.71 million a year ago.
On the NYSE, the stock was up 6 percent in the after-hours trading at $15.00. PRA closed Monday's regular trade at $14.11, up 0.86 percent.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.