A. M. Best Upgrades ProAssurance Group to "A+" (Superior)
Medmarc Casualty and Noetic upgrade to "A" (Excellent)
BIRMINGHAM, Ala., June 18, 2013
BIRMINGHAM, Ala., June 18, 2013 /PRNewswire/ --ProAssurance Corporation
(NYSE: PRA) announced today that A. M. Best has upgraded The ProAssurance
Group to "A+" (Superior). Also upgraded are Medmarc Casualty Insurance Company
and Noetic Specialty Insurance Company, which are now rated "A" (Excellent) by
(Photo: http://photos.prnewswire.com/prnh/20130506/CL08197 )
(Logo: http://photos.prnewswire.com/prnh/20081024/PROASSURANCELOGO )
In announcing its rating action, A. M. Best highlighted ProAssurance's
"...superior capital strength, excellent long-term trend of favorable
operating performance and strong business profile." Best also highlighted
ProAssurance's disciplined underwriting standards and proactive claim handling
philosophy along with its leading market position across multiple
"We are pleased that Best has recognized ProAssurance's unwavering dedication
to enduring financial strength and disciplined, customer-focused operations,"
said ProAssurance's Chairman and Chief Executive Officer, W. Stancil Starnes.
He added, "Our financial strength is the bedrock on which ProAssurance has
built a nationally-recognized company with the experience and commitment to
innovation that allows us to effectively address the needs of a rapidly
evolving healthcare environment."
The ProAssurance Group consists of ProAssurance Casualty Company, ProAssurance
Indemnity Company, Inc. and ProAssurance Specialty Insurance Company, Inc.
Ratings for Podiatry Insurance Company of America and PACO Assurance Company,
Inc. are affirmed at "A" (Excellent) and "A-" (Excellent), respectively. The
outlook for all ProAssurance ratings is Stable.
ProAssurance Corporation is an industry-leading specialty insurance company
with extensive expertise in medical professional liability, products liability
for life sciences and the medical technology industry and legal professional
liability. ProAssurance is recognized as one of the top performing insurance
companies in America by virtue of its inclusion in the Ward's 50 for the past
six years and is consistently ranked as a top performing property casualty
insurer in Moody's Yearly Statistical Handbook. ProAssurance is rated "A+"
(Superior) by A.M. Best and "A" (Strong) by Fitch Ratings.
SOURCE ProAssurance Corporation
Contact: Frank B. O'Neil, Sr. Vice President, Corporate Communications &
Investor Relations, 800-282-6242, 205-877-4461, foneil@ProAssurance.com
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