ProAssurance Turns To Loss In Q3

(RTTNews) - ProAssurance Corp. (PRA) turned to loss in the third quarter. Total revenues also fell 8 percent and came in below the Street view.

The company posted net loss of $9.1 million, or $0.17 per diluted share in the third quarter, compared to net income of $12.2 million or $0.23 per share in the same period last year.

Net investment income climbed 28 percent to $24.7 million from $19.3 million a year ago. Total revenues declined 8 percent to $273 million from $309.7 million last year.

On average, 5 analysts polled by Thomson Reuters expected the company to post earnings of $0.2 per share on revenues of $307.4 million a year ago.

Net premiums earned also fell to $258.4 million from $272.2 million in the same quarter last year.