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.
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