BUZZ-Insurer ProAssurance soars on $1.3 billion buyout deal with Doctors Company

Reuters

20 Mar

BUZZ-Insurer ProAssurance soars on $1.3 billion buyout deal with Doctors Company

** Specialty insurer ProAssurance's PRA.N shares jump 52.3% to $23.71 in extended trade

** Medical malpractice insurer Doctors Company has agreed to buy PRA in a $1.3 billion deal, the companies say

** PRA shareholders will receive $25 in cash for each share held, representing 60.9% premium to stock's last close

** Deal expected to close in the first half of 2026

** PRA has expertise in medical liability, products liability for medical technology and life sciences, and workers' compensation insurance

** As of last close, PRA stock down 2% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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