38954201820100100
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*38954201820100100* PROPERTY AND CASUALTY COMPANIES—ASSOCIATION EDITION ANNUAL STATEMENT For the Year Ended December 31, 2018 OF THE CONDITION AND AFFAIRS OF THE PROASSURANCE CASUALTY COMPANY NAIC Group Code 02698 , 02698 NAIC Company Code 38954 Employer’s ID Number 38-2317569 (Current Period) (Prior Period) Organized under the Laws of Michigan , State of Domicile or Port of Entry Michigan Country of Domicile United States Incorporated/Organized 06/27/1980 Commenced Business 06/27/1980 Statutory Home Office 2600 PROFESSIONALS DRIVE , OKEMOS, MI, US 48864 (Street and Number) (City or Town, State, Country and Zip Code) Main Administrative Office 100 BROOKWOOD PLACE BIRMINGHAM, AL, US 35209 205-877-4400 (Street and Number) (City or Town, State, Country and Zip Code) (Area Code) (Telephone Number) Mail Address PO BOX 590009 , BIRMINGHAM, AL, US 35259-0009 (Street and Number or P.O. Box) (City or Town, State, Country and Zip Code) Primary Location of Books and Records 100 BROOKWOOD PLACE BIRMINGHAM, AL, US 35209 205-877-4400 (Street and Number) (City or Town, State, Country and Zip Code) (Area Code) (Telephone Number) Internet Web Site Address www.proassurance.com Statutory Statement Contact ELAINE MARIE SPARKS 615-301-1445 (Name) (Area Code) (Telephone Number) (Extension) [email protected] 615-324-9169 (E-Mail Address) (Fax Number) OFFICERS Name Title Name Title PRESIDENT, CHIEF CLAIMS DARRYL KEITH THOMAS , OFFICER KATHRYN ANNE NEVILLE , SECRETARY DANA SHANNON HENDRICKS # , TREASURER WILLIAM STANCIL STARNES , CHAIRMAN OTHER OFFICERS ROGER SMITH , SENIOR VICE PRESIDENT JEFFREY LYNN BOWLBY , SENIOR VICE PRESIDENT LAWRENCE KERRY COCHRAN , VICE PRESIDENT HOWARD HARLEY FRIEDMAN , CHIEF UNDERWRITING OFFICER FRANK BERRY O'NEIL , SENIOR VICE PRESIDENT EDWARD LEWIS RAND, JR. , SENIOR VICE PRESIDENT HAYES VANCE WHITESIDE, MD , SENIOR VICE PRESIDENT , DIRECTORS OR TRUSTEES HOWARD HARLEY FRIEDMAN JEFFREY PATTON LISENBY EDWARD LEWIS RAND, JR. MICHAEL JOHN SEVERYN WILLIAM STANCIL STARNES DARRYL KEITH THOMAS State of ALABAMA ss County of JEFFERSON The officers of this reporting entity, being duly sworn, each depose and say that they are the described officers of said reporting entity, and that on the reporting period stated above, all of the herein described assets were the absolute property of the said reporting entity, free and clear from any liens or claims thereon, except as herein stated, and that this statement, together with related exhibits, schedules and explanations therein contained, annexed or referred to, is a full and true statement of all the assets and liabilities and of the condition and affairs of the said reporting entity as of the reporting period stated above, and of its income and deductions therefrom for the period ended, and have been completed in accordance with the NAIC Annual Statement Instructions and Accounting Practices and Procedures manual except to the extent that: (1) state law may differ; or, (2) that state rules or regulations require differences in reporting not related to accounting practices and procedures, according to the best of their information, knowledge and belief, respectively. Furthermore, the scope of this attestation by the described officers also includes the related corresponding electronic filing with the NAIC, when required, that is an exact copy (except for formatting differences due to electronic filing) of the enclosed statement. The electronic filing may be requested by various regulators in lieu of or in addition to the enclosed statement. DARRYL KEITH THOMAS KATHRYN ANNE NEVILLE DANA SHANNON HENDRICKS PRESIDENT SECRETARY TREASURER a. Is this an original filing? Yes [ X ] No [ ] Subscribed and sworn to before me b. If no: this day of , 1. State the amendment number 2. Date filed 3. Number of pages attached JEAN H. NOOJIN, APRIL 22, 2021 ANNUAL STATEMENT FOR THE YEAR 2018 OF THE PROASSURANCE CASUALTY COMPANY ASSETS Current Year Prior Year 1 2 3 4 Net Admitted Assets Net Admitted Assets Nonadmitted Assets (Cols. 1 - 2) Assets 1. Bonds (Schedule D) 592,272,761 592,272,761 594,224,315 2. Stocks (Schedule D): 2.1 Preferred stocks 0 0 0 2.2 Common stocks 154,604,606 154,604,606 134,846,676 3. Mortgage loans on real estate (Schedule B): 3.1 First liens 0 0 3.2 Other than first liens 0 0 4. Real estate (Schedule A): 4.1 Properties occupied by the company (less $ encumbrances) 2,345,458 2,345,458 2,544,198 4.2 Properties held for the production of income (less $ encumbrances) 0 0 4.3 Properties held for sale (less $ encumbrances) 0 0 5. Cash ($ 196,465 , Schedule E-Part 1), cash equivalents ($ 35,824,369 , Schedule E-Part 2) and short-term investments ($ 3,391,429 , Schedule DA) 39,412,263 39,412,263 64,917,138 6. Contract loans (including $ premium notes) 0 0 7. Derivatives (Schedule DB) 0 0 0 8. Other invested assets (Schedule BA) 110,298,114 110,298,114 120,025,486 9. Receivables for securities 558,835 558,835 14,744 10. Securities lending reinvested collateral assets (Schedule DL) 0 0 11. Aggregate write-ins for invested assets 0 0 0 0 12. Subtotals, cash and invested assets (Lines 1 to 11) 899,492,037 0 899,492,037 916,572,557 13. Title plants less $ charged off (for Title insurers only) 0 0 14. Investment income due and accrued 5,373,608 5,373,608 5,905,987 15. Premiums and considerations: 15.1 Uncollected premiums and agents’ balances in the course of collection 15,896,014 862,192 15,033,822 18,000,252 15.2 Deferred premiums, agents’ balances and installments booked but deferred and not yet due (including $ earned but unbilled premiums) 32,004,739 32,004,739 25,713,187 15.3 Accrued retrospective premiums ($ 405,064 ) and contracts subject to redetermination ($ ) 405,064 40,506 364,558 1,045,147 16. Reinsurance: 16.1 Amounts recoverable from reinsurers 2,793,193 2,793,193 2,040,686 16.2 Funds held by or deposited with reinsured companies 25,067,000 25,067,000 67,000 16.3 Other amounts receivable under reinsurance contracts 0 0 17. Amounts receivable relating to uninsured plans 0 0 18.1 Current federal and foreign income tax recoverable and interest thereon 0 620,811 18.2 Net deferred tax asset 14,722,307 7,806,733 6,915,574 7,539,974 19. Guaranty funds receivable or on deposit 0 1,240 20. Electronic data processing equipment and software 39,050 39,050 12,501 21. Furniture and equipment, including health care delivery assets ($ ) 806,368 806,368 0 0 22. Net adjustment in assets and liabilities due to foreign exchange rates 0 0 23. Receivables from parent, subsidiaries and affiliates 7,940,790 7,940,790 135,853 24. Health care ($ ) and other amounts receivable 0 0 25. Aggregate write-ins for other-than-invested assets 13,269,130 295,899 12,973,231 12,352,367 26. Total assets excluding Separate Accounts, Segregated Accounts and Protected Cell Accounts (Lines 12 to 25) 1,017,809,300 9,811,698 1,007,997,602 990,007,562 27. From Separate Accounts, Segregated Accounts and Protected Cell Accounts 0 0 28. Total (Lines 26 and 27) 1,017,809,300 9,811,698 1,007,997,602 990,007,562 DETAILS OF WRITE-INS 1101. 0 0 1102. 1103. 1198. Summary of remaining write-ins for Line 11 from overflow page 0 0 0 0 1199. Totals (Lines 1101 through 1103 plus 1198) (Line 11 above) 0 0 0 0 2501. Prepaid Expenses and Other Assets 295,899 295,899 0 0 2502. Amounts Receivable under High Deductible Policies 0 15,880 2503. Cash Surrender Value of Company Owned Life Insurance 12,531,277 12,531,277 12,141,018 2598. Summary of remaining write-ins for Line 25 from overflow page 441,954 0 441,954 195,469 2599. Totals (Lines 2501 through 2503 plus 2598) (Line 25 above) 13,269,130 295,899 12,973,231 12,352,367 2 ANNUAL STATEMENT FOR THE YEAR 2018 OF THE PROASSURANCE CASUALTY COMPANY LIABILITIES, SURPLUS AND OTHER FUNDS 1 2 Current Year Prior Year 1. Losses (Part 2A, Line 35, Column 8) 353,546,383 295,494,661 2. Reinsurance payable on paid losses and loss adjustment expenses (Schedule F, Part 1, Column 6) 5,085,657 8,699,054 3. Loss adjustment expenses (Part 2A, Line 35, Column 9) 239,823,037 249,761,201 4. Commissions payable, contingent commissions and other similar charges 1,130,354 262,653 5. Other expenses (excluding taxes, licenses and fees) 1,092,631 2,532,498 6. Taxes, licenses and fees (excluding federal and foreign income taxes) 997,990 686,672 7.1 Current federal and foreign income taxes (including $ on realized capital gains (losses)) 554,191 0 7.2 Net deferred tax liability 0 8. Borrowed money $ and interest thereon $ 0 9. Unearned premiums (Part 1A, Line 38, Column 5) (after deducting unearned premiums for ceded reinsurance of $ 11,165,277 and including warranty reserves of $ 0 and accrued accident and health experience rating refunds including $ 0 for medical loss ratio rebate per the Public Health Service Act) 104,886,386 107,903,639 10. Advance premium 2,627,418 2,553,625 11. Dividends declared and unpaid: 11.1 Stockholders 0 11.2 Policyholders 0 12. Ceded reinsurance premiums payable (net of ceding commissions) 12,873,232 6,930,193 13. Funds held by company under reinsurance treaties (Schedule F, Part 3, Column 20) 54,956 6,427,315 14. Amounts withheld or retained by company for account of others 342,016 430,337 15. Remittances and items not allocated 0 16. Provision for reinsurance (including $ certified) (Schedule F, Part 3, Column 78) 18,097,000 6,562,400 17.