AM Best Comments on Credit Ratings of The Doctors Company Insurance Group Members Following Announced Acquisition of ProAssurance Corporation

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) of “a+” (Excellent) of the members of The Doctors Company Insurance Group (TDC Group) (Napa, CA) are unchanged following the March 19, 2025, announcement that TDC Group will acquire all outstanding shares of ProAssurance Corporation (PRA) (NYSE: PRA) (Birmingham, AL). The outlook of TDC Group’s Credit Ratings (ratings) is stable.

The ratings reflect TDC Group’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

TDC Group is the second-largest writer of medical professional liability (MPL) insurance in the United States (based on direct premiums written) and will be purchasing PRA – the fourth-largest MPL insurer in the United States. Following the conclusion of the transaction, which is expected to close within the first half of 2026 pending regulatory approval, PRA will be 100% owned by The Doctors Company, An Interinsurance Exchange, the lead member of TDC Group.

AM Best does not expect the transaction to have any material change to TDC Group’s rating fundamentals at this time. Given the extended nature of the transaction, AM Best will continue to evaluate each of these organizations independently while monitoring the progress and the effects of this transaction over time. As more detailed information becomes available, AM Best will reassess the ratings of both organizations taking into consideration the planned synergies and efficiencies gained from the transaction.

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