ProAssurance to Acquire NORCAL
According to a ProAssurance press release dated 2/20/20, NORCAL Group has agreed to be acquired by ProAssurance in a $450M transaction following the demutualization of NORCAL Mutual Insurance Company. Assuming the demutualization is successful and required regulatory approval is obtained, ProAssurance is expected to be the third largest specialty writer of liability insurance for healthcare professionals and facilities. The acquisition is projected to be completed by the end of 2020.
Follow this link for the full press release.