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ProAssurance Reports Second Quarter 2009 Results
Date:8/3/2009

BIRMINGHAM, Ala., Aug. 3 /PRNewswire-FirstCall/ -- ProAssurance (NYSE: PRA) reports Operating Income of $50.4 million, or $1.52 per diluted share for the second quarter of 2009. Net Income in the quarter was $53.9 million, or $1.62 per diluted share. For the six months ended June 30, 2009, Operating Income was $83.5 million, or $2.50 per diluted share and Net Income was $82.2 million, or $2.46 per diluted share.

(Logo: http://www.newscom.com/cgi-bin/prnh/20081024/PROASSURANCELOGO )

The company reports a 27 % increase in Gross Written Premiums, compared to the year-ago quarter, primarily due to recent acquisitions. Book Value per share grew to $46.72 in the quarter, a nine percent increase since year-end.

    Unaudited Consolidated Financial Summary
    (in thousands, except per share data)

                                   Three Months Ended      Six Months Ended
                                         June 30,               June 30,
                                     2009        2008       2009       2008
                                     ----        ----       ----       ----
    Gross Premiums Written        $111,612     $88,005   $266,156   $248,272
                                  ========     =======   ========   ========
    Net Premiums Written          $100,542     $78,784   $242,929   $227,199
                                  ========     =======   ========   ========
    Net Premiums Earned           $127,744    $115,768   $231,634   $236,345
                                  ========    =======
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SOURCE ProAssurance
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