What's Going On With ProAssurance Stock Thursday?

ProAssurance Corporation PRA stock is moving higher on Thursday after the company announced it will be acquired by The Doctors Company, a medical malpractice insurer.

The Details: Under the definitive agreement, The Doctors Company will acquire ProAssurance for $25 per share, representing a 60% premium over the closing price per share on March 18.

The transaction is valued at approximately $1.3 billion. Once completed, the combined company will have assets totaling around $12 billion.

“Both ProAssurance and The Doctors Company were founded by physicians in response to the medical liability crisis of the 1970s. Both companies have grown over the years by bringing together other physician-founded companies,” said Ned Rand, ProAssurance’s President and CEO.

“This shared history has helped both companies fulfill our shared mission to protect others and given us similar operating philosophies and cultures. Bringing the strengths and capabilities of our companies together now will allow our teams to continue to serve today’s healthcare providers with the necessary scale and breadth of capabilities.”

The transaction is expected to close during the first half of 2026, subject to customary closing conditions, including approval by ProAssurance’s stockholders. The Board of Directors of ProAssurance has already unanimously approved the deal.

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PRA Price Action: At the time of writing, ProAssurance stock is trading 47.9% higher at $22.92, according to data from Benzinga Pro.

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