ProAssurance Corporation (PRA)

[Penny Roger$]

ProAssurance Corporation is an insurance holding company for property and casualty insurance companies focused on professional liability insurance. The Company wholly owns eight operating insurance companies, which are primarily focused on providing professional liability insurance and operate as a single business segment within the United States. On November 30, 2010, it acquired American Physicians Service Group, Inc. (APS). The Company’s insurance subsidiaries are primarily focused on providing professional liability insurance to the healthcare and legal marketplaces. It also offers professional liability insurance on an excess and surplus lines basis. The Company utilizes independent agents, as well as an internal sales force to write its business. During the year ended December 31, 2010, it estimated that approximately 64% of its gross premiums written were produced through independent insurance agencies.

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