ProAssurance has announced the transaction to merge NORCAL Group into the ProAssurance family of companies is now complete. This after NORCAL Mutual Insurance Company concluded a successful demutualization process on 4/26/21. Base consideration for the transaction was $450 million, with a contingent consideration of up to $150 million that is dependent on the actual performance of the acquired book of business. We understand this transaction makes ProAssurance the third largest physicians med-mal writer in the U.S.
Follow this link for a complete copy of ProAssurance’s official press release.
Visit Ethos for more insights and news from the industry.
As the Co-Founder and Chief Production Officer of Ethos Insurance Partners, David, with decades of experience in the insurance industry, has a rich background starting in reinsurance brokerage and later specializing in healthcare professional liability placements. Co-founding Ethos Insurance Partners in 2004, David possesses a comprehensive understanding of professional liability exposure in the healthcare industry and is well-versed in the products and capabilities of carrier partners. His role at Ethos involves assisting production support staff efficiently solving healthcare professional liability-related problems for retail customers. Personally, David finds joy in building, from home projects to business ventures, and enjoys sharing good meals and wines with friends and family. He looks forward to continuing to build Ethos through collaboration and serving retail customers.
