ProAssurance: Q2 Earnings Snapshot

BIRMINGHAM, Ala. (AP) _ ProAssurance Corp. (PRA) on Thursday reported second-quarter net income of $92.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Birmingham, Alabama-based company said it had net income of $1.70. Earnings, adjusted for investment gains, came to 49 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The medical professional liability insurer posted revenue of $281.6 million in the period. Its adjusted revenue was $258.9 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $239.9 million.

ProAssurance shares have increased 16% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.63, a rise of 39% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PRA at https://www.zacks.com/ap/PRA