Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
ProAssurance's Claims Ratio % for the quarter that ended in Mar. 2024 was 79.70%
, which is higher than
78.90% for the pervious quarter ended in Dec. 2023.
ProAssurance's Claims Ratio % for the annual that ended in Dec. 2023 was 81.90%
, which is higher than
75.40% for the pervious year ended in Dec. 2022.
The historical rank and industry rank for ProAssurance's Claims Ratio % or its related term are showing as below:
PRA's Claims Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Claims Ratio % only.
ProAssurance Claims Ratio % Historical Data
The historical data trend for ProAssurance's Claims Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of ProAssurance's Claims Ratio %
For the Insurance - Property & Casualty subindustry, ProAssurance's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
ProAssurance (NYSE:PRA) Claims Ratio % Calculation
Claims Ratio % is calculated as
Claims Ratio %
=
Total Claims
/
Total Premiums Earned
*
100%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
ProAssurance (NYSE:PRA) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
ProAssurance Claims Ratio % Related Terms
Thank you for viewing the detailed overview of ProAssurance's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
ProAssurance Corp is a holding company for property and casualty insurance companies. The company's wholly owned insurance subsidiaries provide professional liability insurance for healthcare professionals and facilities, professional liability insurance for attorneys, and workers' compensation insurance. ProAssurance reports operating results in five segments: Specialty Property and Casualty, Workers' Compensation, Segregated Portfolio Cell Reinsurance, Lloyd's Syndicate, and Corporate. ProAssurance generates the vast majority of its revenue from its Specialty P&C activities, followed by Worker's Compensation.
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