Key Developments: ProAssurance Corp (PRA.N)
53.91USD
2 Aug 2013
$-0.11 (-0.20%)
$54.02
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Latest Key Developments (Source: Significant Developments)
ProAssurance Corp Declares Quarterly Dividend
ProAssurance Corp announced that Board of Directors has declared a cash dividend of $0.25 per common share, payable on July 12, 2013 to shareholders who own our stock as of June 27, 2013. Full Article
Faruqi & Faruqi, LLP Launches Investigation Against ProAssurance Corp For Potential Breaches Of Fiduciary Duties By Board Of Directors
Faruqi & Faruqi, LLP, a national securities firm headquartered in New York City, is investigating the Board of Directors of ProAssurance Corporation for potential breaches of fiduciary duties in connection with their conduct in seeking shareholders' approval of the Company's 2014 Equity Incentive Plan. Specifically, in the Proxy Statement filed by the Company with the Securities and Exchange Commission on April 5, 2013, the Board of Directors recommends that ProAssurance's shareholders vote to approve the ProAssurance Corporation 2014 Equity Incentive Plan, which would authorize the issuance of up to 4,000,000 shares of Common Stock. The issuance of the additional shares could have a substantial dilutive effect on the shares of ProAssurance common stock. Full Article
ProAssurance Corp Revises Record Date For Upcoming Quarterly Dividend
ProAssurance Corp announced that the record date for its upcoming cash dividend of $0.25 per common share will be April 1, 2013. The dividend payment date remains April 11, 2013. The change is being made due to the Good Friday holiday at the New York Stock Exchange on March 29, 2013, the previously announced record date. Full Article
ProAssurance Corp Declares Quarterly Dividend
ProAssurance Corp announced that it has declared a cash dividend of $0.25 per common share, payable on April 11, 2013 to shareholders who own our stock as of March 29, 2013. Full Article
ProAssurance Corp Announces Dividend Actions
ProAssurance Corp announced that its Board of Directors has authorized a 2-for-1 stock split. Following the split, shareholders will also receive a special dividend of $2.50 per common share and a regular dividend of $0.25 per common share.The stock split will be in the form of a 100% stock dividend, payable on December 27, 2012 , to shareholders who own our stock as of December 17, 2012 . The same record and payment dates will apply to the $2.50 per common share special dividend and the regular dividend, both of which will be paid on total shares held after the stock split. This accelerated payment of the regular quarterly dividend will replace the dividend that would normally be paid in January 2013 . Full Article
ProAssurance Corp Completes Acquisition Of Independent Nevada Doctors Insurance Exchange
ProAssurance Corp announced that it has completed the acquisition of Independent Nevada Doctors Insurance Exchange (IND). As a result of the transaction, IND will become a subsidiary of ProAssurance immediately following IND's conversion from a reciprocal to a stock insurance company. Proceeds from the transaction will be paid to eligible IND subscribing policyholders by mid-December. Full Article
ProAssurance Corp Approves Quarterly Cash Dividends
ProAssurance Corp announced that it has approved quarterly cash dividends of $0.25 per common share, paid in April, July and October of 2012. Full Article
ProAssurance Corp Declares Dividend
ProAssurance Corp announced that it has declared a cash dividend $0.25 per common share, payable on October 11, 2012 to shareholders who own our stock as of September 27, 2012. Full Article
Independent Nevada Doctors Insurance Exchange To Merge With ProAssurance Corp
ProAssurance Corp announced that Independent Nevada Doctors Insurance Exchange (IND), a Nevada reciprocal exchange, will become part of ProAssurance through a conversion from a reciprocal to a stock insurance company and simultaneous merger with a ProAssurance subsidiary. Proceeds from the transaction will be paid to eligible IND subscribing policyholders. The Nevada operations of both companies will be combined into IND's Las Vegas office under the leadership of IND President James Hooban. The sponsored conversion will convert IND into a non-public stock company. Simultaneously, IND will be merged with a subsidiary of ProAssurance and ProAssurance will pay cash to eligible subscribers to purchase the IND stock. ProAssurance is also purchasing IND's Attorney-in-Fact in a companion transaction. The Board of Directors of ProAssurance and the SAC for IND have approved the transaction, which now requires that the SAC adopt a Plan of Conversion (Plan) to fulfill the requirements of the transaction. The Plan and the transaction require approvals from IND subscribers and the Nevada Division of Insurance. The transaction is expected to close before the end of 2012. Terms of the transaction are not material to ProAssurance. ProAssurance's legal advisor in the transaction is Burr & Forman, LLP. The financial advisor for IND is Keefe, Bruyette & Woods and IND's legal advisor is Edwards Wildman Palmer LLP. Full Article
ProAssurance Corp Declares Quarterly Dividend
ProAssurance Corp announced that the Board of Directors declared a cash dividend $0.25 per common share, payable on July 11, 2012 to shareholders who own the stock as of June 27, 2012. Full Article
Fitch Affirms ProAssurance's Ratings; Outlook Stable
(The following statement was released by the rating agency) CHICAGO, May 01 (Fitch) Fitch Ratings has affirmed ProAssurance Corporation's (PRA) Issuer Default Rating (IDR) at 'BBB+'. Fitch has also affirmed the Insurer Financial Strength (IFS) ratings of PRA's primary insurance operating companies (listed below) at 'A'. The Rating Outlook for all ratings is Stable. KEY RATING DRIVERS Fitch's rating actions consider the solid capital position of PRA's operating subsidiaries, as well as their

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