false--12-31Q22019000112770331344000338240000.100.000.0550000011000006000001200000200000340000080000435500086270000.310.010.0110000000062989421631122880.013250.04100.03770.0530.0530.050.050.050.050.000.000.000.000.0250.0250.0250.025450931000398489000P3Y0250000000250000000P2Y1900000050000000P3Y254000003844500042905000935237393523730See Note 1 for discussion of accounting guidance adopted during the period. 0001127703 2019-01-01 2019-06-30 0001127703 2019-07-31 0001127703 2019-06-30 0001127703 2018-12-31 0001127703 us-gaap:TreasuryStockMember 2018-12-31 0001127703 2019-04-01 2019-06-30 0001127703 us-gaap:AdditionalPaidInCapitalMember 2019-04-01 2019-06-30 0001127703 us-gaap:CommonStockMember 2019-01-01 2019-06-30 0001127703 us-gaap:RetainedEarningsMember 2019-06-30 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-06-30 0001127703 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-06-30 0001127703 us-gaap:RetainedEarningsMember 2019-04-01 2019-06-30 0001127703 us-gaap:CommonStockMember 2018-12-31 0001127703 us-gaap:RetainedEarningsMember 2019-01-01 2019-06-30 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-04-01 2019-06-30 0001127703 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001127703 us-gaap:TreasuryStockMember 2019-03-31 0001127703 us-gaap:CommonStockMember 2019-06-30 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-06-30 0001127703 2019-03-31 0001127703 us-gaap:AdditionalPaidInCapitalMember 2019-06-30 0001127703 us-gaap:AccountingStandardsUpdate201807Member 2019-01-01 0001127703 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001127703 us-gaap:TreasuryStockMember 2019-01-01 2019-06-30 0001127703 us-gaap:RetainedEarningsMember 2019-03-31 0001127703 us-gaap:CommonStockMember 2019-03-31 0001127703 us-gaap:RetainedEarningsMember 2018-12-31 0001127703 us-gaap:TreasuryStockMember 2019-06-30 0001127703 us-gaap:TreasuryStockMember 2019-04-01 2019-06-30 0001127703 us-gaap:AccountingStandardsUpdate201807Member us-gaap:RetainedEarningsMember 2019-01-01 0001127703 us-gaap:CommonStockMember 2019-04-01 2019-06-30 0001127703 2018-04-01 2018-06-30 0001127703 us-gaap:RetainedEarningsMember 2017-12-31 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-06-30 0001127703 us-gaap:TreasuryStockMember 2018-04-01 2018-06-30 0001127703 us-gaap:AccountingStandardsUpdate201802Member us-gaap:RetainedEarningsMember 2018-01-01 0001127703 us-gaap:RetainedEarningsMember 2018-03-31 0001127703 2017-12-31 0001127703 us-gaap:TreasuryStockMember 2018-06-30 0001127703 2018-01-01 2018-06-30 0001127703 us-gaap:CommonStockMember 2018-01-01 2018-06-30 0001127703 us-gaap:AccountingStandardsUpdate201802Member 2018-01-01 0001127703 us-gaap:RetainedEarningsMember 2018-01-01 2018-06-30 0001127703 2018-06-30 0001127703 us-gaap:CommonStockMember 2018-04-01 2018-06-30 0001127703 us-gaap:AccountingStandardsUpdate201601Member us-gaap:RetainedEarningsMember 2018-01-01 0001127703 2018-03-31 0001127703 2018-01-01 0001127703 us-gaap:RetainedEarningsMember 2018-04-01 2018-06-30 0001127703 us-gaap:CommonStockMember 2017-12-31 0001127703 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-06-30 0001127703 us-gaap:AdditionalPaidInCapitalMember 2018-04-01 2018-06-30 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001127703 us-gaap:AccountingStandardsUpdate201802Member us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 0001127703 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001127703 us-gaap:RetainedEarningsMember 2018-06-30 0001127703 us-gaap:CommonStockMember 2018-06-30 0001127703 us-gaap:TreasuryStockMember 2017-12-31 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-06-30 0001127703 us-gaap:TreasuryStockMember 2018-01-01 2018-06-30 0001127703 us-gaap:AdditionalPaidInCapitalMember 2018-06-30 0001127703 us-gaap:AccountingStandardsUpdate201601Member 2018-01-01 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-04-01 2018-06-30 0001127703 us-gaap:CommonStockMember 2018-03-31 0001127703 us-gaap:TreasuryStockMember 2018-03-31 0001127703 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001127703 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001127703 2019-01-01 0001127703 us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:CommercialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:CommercialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2019-06-30 0001127703 us-gaap:EquitySecuritiesMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember us-gaap:FairValueMeasurementsRecurringMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2019-06-30 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2018-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:InvestmentIncomeMember 2018-04-01 2018-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2018-04-01 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember 2018-04-01 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:InvestmentIncomeMember 2018-04-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:InvestmentIncomeMember 2018-04-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2018-04-01 2018-06-30 0001127703 us-gaap:GainLossOnInvestmentsMember1 2018-04-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2018-04-01 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember 2018-03-31 0001127703 us-gaap:AssetBackedSecuritiesMember 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:GainLossOnInvestmentsMember1 2018-04-01 2018-06-30 0001127703 us-gaap:InvestmentIncomeMember 2018-04-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2018-03-31 0001127703 us-gaap:CorporateDebtSecuritiesMember 2018-03-31 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2018-04-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2018-01-01 2018-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2017-12-31 0001127703 us-gaap:OtherInvestmentsMember 2018-01-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2017-12-31 0001127703 us-gaap:CorporateDebtSecuritiesMember 2018-01-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:InvestmentIncomeMember 2018-01-01 2018-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:InvestmentIncomeMember 2018-01-01 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember 2017-12-31 0001127703 us-gaap:InvestmentIncomeMember 2018-01-01 2018-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2018-01-01 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:InvestmentIncomeMember 2018-01-01 2018-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:GainLossOnInvestmentsMember1 2018-01-01 2018-06-30 0001127703 us-gaap:GainLossOnInvestmentsMember1 2018-01-01 2018-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2018-01-01 2018-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:LongShortCommodityFundMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:StructuredCreditFundMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:LongshortEquityFundsMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:StructuredCreditFundMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:PrivateDebtFundsMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:MultiStrategyFundofFundsMember 2019-06-30 0001127703 us-gaap:EquitySecuritiesMember pra:MortgageFundMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:StrategyFocusedFundMember 2018-12-31 0001127703 us-gaap:EquitySecuritiesMember pra:MortgageFundMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:LongShortCommodityFundMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:LongshortEquityFundsMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:StrategyFocusedFundMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:MultiStrategyFundofFundsMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:PrivateEquityFundsMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember pra:PrivateDebtFundsMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:PrivateEquityFundsForeignMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:PrivateEquityFundsForeignMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:PrivateEquityFundsMember 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember 2019-06-30 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:CashSurrenderValueMember 2018-12-31 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2018-12-31 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:CashSurrenderValueMember 2018-12-31 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-06-30 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:SeniorNotesMember 2019-06-30 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:CashSurrenderValueMember 2019-06-30 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:MortgagesMember 2019-06-30 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:SeniorNotesMember 2018-12-31 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:MortgagesMember 2018-12-31 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:SeniorNotesMember 2019-06-30 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:MortgagesMember 2019-06-30 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember 2019-06-30 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2018-12-31 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:CashSurrenderValueMember 2019-06-30 0001127703 us-gaap:EstimateOfFairValueFairValueDisclosureMember us-gaap:MortgagesMember 2018-12-31 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:SeniorNotesMember 2018-12-31 0001127703 us-gaap:CarryingReportedAmountFairValueDisclosureMember us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2019-04-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:InvestmentIncomeMember 2019-04-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:InvestmentIncomeMember 2019-04-01 2019-06-30 0001127703 us-gaap:InvestmentIncomeMember 2019-04-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember 2019-04-01 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2019-04-01 2019-06-30 0001127703 us-gaap:GainLossOnInvestmentsMember1 2019-04-01 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2019-04-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:GainLossOnInvestmentsMember1 2019-04-01 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2019-03-31 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:InvestmentIncomeMember 2019-04-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember 2019-03-31 0001127703 us-gaap:AssetBackedSecuritiesMember 2019-03-31 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2019-04-01 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2019-01-01 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:GainLossOnInvestmentsMember1 2019-01-01 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember 2019-01-01 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2019-01-01 2019-06-30 0001127703 us-gaap:CorporateDebtSecuritiesMember 2018-12-31 0001127703 us-gaap:OtherInvestmentsMember 2019-01-01 2019-06-30 0001127703 us-gaap:InvestmentIncomeMember 2019-01-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:CorporateDebtSecuritiesMember us-gaap:InvestmentIncomeMember 2019-01-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:InvestmentIncomeMember 2019-01-01 2019-06-30 0001127703 us-gaap:OtherInvestmentsMember us-gaap:GainLossOnInvestmentsMember1 2019-01-01 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:GainLossOnInvestmentsMember1 2019-01-01 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesMember us-gaap:InvestmentIncomeMember 2019-01-01 2019-06-30 0001127703 pra:LongShortCommodityFundMember 2019-01-01 2019-06-30 0001127703 pra:NationallyRecognizedStatisticalRatingOrganizationNRSROMember pra:CorporateDebtLimitedObservableInputsMember pra:NationallyRecognizedStatisticalRatingOrganizationNRSRORatingBBBplusMember 2018-01-01 2018-12-31 0001127703 srt:MaximumMember pra:LongshortEquityFundsMember 2019-01-01 2019-06-30 0001127703 pra:StructuredCreditFundMember 2019-01-01 2019-06-30 0001127703 pra:NationallyRecognizedStatisticalRatingOrganizationNRSROMember pra:CorporateDebtLimitedObservableInputsMember pra:NationallyRecognizedStatisticalRatingOrganizationNRSRORatingAAminusMember 2019-01-01 2019-06-30 0001127703 pra:MortgageFundMember 2019-01-01 2019-06-30 0001127703 srt:MaximumMember pra:LongShortCommodityFundMember 2019-01-01 2019-06-30 0001127703 us-gaap:PrivateEquityFundsMember 2019-01-01 2019-06-30 0001127703 pra:LongshortEquityFundsMember 2019-01-01 2019-06-30 0001127703 us-gaap:FairValueMeasurementsNonrecurringMember 2019-06-30 0001127703 pra:NationallyRecognizedStatisticalRatingOrganizationNRSROMember pra:OtherAssetBackedSecuritiesMember pra:NationallyRecognizedStatisticalRatingOrganizationNRSRORatingAAAMember 2018-01-01 2018-12-31 0001127703 srt:MaximumMember pra:PrivateDebtFundsMember 2019-01-01 2019-06-30 0001127703 srt:MinimumMember pra:LongshortEquityFundsMember 2019-01-01 2019-06-30 0001127703 pra:LongshortEquityFundsMember 2019-06-30 0001127703 us-gaap:PrivateEquityFundsForeignMember 2019-01-01 2019-06-30 0001127703 pra:NationallyRecognizedStatisticalRatingOrganizationNRSROMember pra:OtherAssetBackedSecuritiesMember pra:NationallyRecognizedStatisticalRatingOrganizationNRSRORatingAMinusMember 2019-01-01 2019-06-30 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2018-12-31 0001127703 us-gaap:EquitySecuritiesMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:EquitySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:ResidentialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueMeasuredAtNetAssetValuePerShareMember us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:AllOtherMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:ConsumerOrientedMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityIndustrialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:FixedIncomeFundsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:UtilitiesEnergyEquitySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:OtherInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:USTreasurySecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember pra:EquityFinancialSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:USStatesAndPoliticalSubdivisionsMember 2018-12-31 0001127703 us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateBondsMultipleObservableInputsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:CommercialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember us-gaap:ShortTermInvestmentsMember 2018-12-31 0001127703 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember pra:CorporateDebtLimitedObservableInputsMember 2018-12-31 0001127703 srt:MinimumMember pra:PrivateDebtFundsMember 2019-01-01 2019-06-30 0001127703 srt:MaximumMember us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MinimumMember us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:MarketApproachValuationTechniqueMember 2019-06-30 0001127703 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member us-gaap:OtherInvestmentsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MaximumMember us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:MarketApproachValuationTechniqueMember 2019-06-30 0001127703 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MaximumMember us-gaap:FairValueInputsLevel3Member us-gaap:OtherInvestmentsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:MarketApproachValuationTechniqueMember 2019-06-30 0001127703 srt:WeightedAverageMember us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:MarketApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MaximumMember us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MinimumMember us-gaap:FairValueInputsLevel3Member us-gaap:OtherInvestmentsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MinimumMember us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:MarketApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MinimumMember us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MaximumMember us-gaap:FairValueInputsLevel3Member pra:CorporateDebtLimitedObservableInputsMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:MarketApproachValuationTechniqueMember 2019-06-30 0001127703 srt:MinimumMember us-gaap:FairValueInputsLevel3Member pra:OtherAssetBackedSecuritiesMember us-gaap:MeasurementInputComparabilityAdjustmentMember us-gaap:IncomeApproachValuationTechniqueMember 2019-06-30 0001127703 us-gaap:FairValueMeasurementsNonrecurringMember 2018-12-31 0001127703 us-gaap:CommercialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2018-12-31 0001127703 us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2018-12-31 0001127703 us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2018-12-31 0001127703 us-gaap:ResidentialMortgageBackedSecuritiesMember 2018-12-31 0001127703 us-gaap:USTreasurySecuritiesMember 2018-12-31 0001127703 us-gaap:USStatesAndPoliticalSubdivisionsMember 2018-12-31 0001127703 us-gaap:DebtSecuritiesMember 2018-01-01 2018-06-30 0001127703 us-gaap:DebtSecuritiesMember 2019-01-01 2019-06-30 0001127703 us-gaap:EquitySecuritiesMember 2018-04-01 2018-06-30 0001127703 pra:ShortTermInvestmentsAndOtherInvestedAssetsMember 2018-01-01 2018-06-30 0001127703 us-gaap:EquitySecuritiesMember 2019-01-01 2019-06-30 0001127703 pra:ShortTermInvestmentsAndOtherInvestedAssetsMember 2019-01-01 2019-06-30 0001127703 us-gaap:EquitySecuritiesMember 2019-04-01 2019-06-30 0001127703 us-gaap:DebtSecuritiesMember 2019-04-01 2019-06-30 0001127703 us-gaap:CashSurrenderValueMember 2019-04-01 2019-06-30 0001127703 us-gaap:CashSurrenderValueMember 2019-01-01 2019-06-30 0001127703 pra:ShortTermInvestmentsAndOtherInvestedAssetsMember 2019-04-01 2019-06-30 0001127703 us-gaap:CashSurrenderValueMember 2018-01-01 2018-06-30 0001127703 us-gaap:DebtSecuritiesMember 2018-04-01 2018-06-30 0001127703 us-gaap:CashSurrenderValueMember 2018-04-01 2018-06-30 0001127703 us-gaap:EquitySecuritiesMember 2018-01-01 2018-06-30 0001127703 pra:ShortTermInvestmentsAndOtherInvestedAssetsMember 2018-04-01 2018-06-30 0001127703 us-gaap:USStatesAndPoliticalSubdivisionsMember 2019-06-30 0001127703 us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember 2019-06-30 0001127703 us-gaap:USTreasurySecuritiesMember 2019-06-30 0001127703 us-gaap:GovernmentNationalMortgageAssociationCertificatesAndObligationsGNMAMember 2019-06-30 0001127703 us-gaap:CommercialMortgageBackedSecuritiesMember 2019-06-30 0001127703 us-gaap:USGovernmentSponsoredEnterprisesDebtSecuritiesMember 2019-06-30 0001127703 us-gaap:ResidentialMortgageBackedSecuritiesMember 2019-06-30 0001127703 pra:OtherLimitedPartnershipsandLimitedLiabilityCompanyLessthan25PercentOwnershipMember 2019-06-30 0001127703 pra:TaxCreditPartnershipsLessThan20OwnershipMember 2018-12-31 0001127703 pra:OtherLimitedPartnershipsandLimitedLiabilityCompanyGreaterThan25PercentOwnershipMember 2018-12-31 0001127703 pra:NonGovernmentBackedMember 2018-12-31 0001127703 pra:NonGovernmentBackedMember 2019-06-30 0001127703 pra:TaxCreditPartnershipsLessThan20OwnershipMember 2019-06-30 0001127703 pra:OtherLimitedPartnershipsandLimitedLiabilityCompanyLessthan25PercentOwnershipMember 2018-12-31 0001127703 pra:TaxCreditPartnershipsAlmost100OwnershipMember 2019-06-30 0001127703 srt:MaximumMember pra:TaxCreditPartnershipsLessThan20OwnershipMember 2019-06-30 0001127703 us-gaap:DebtSecuritiesMember 2019-06-30 0001127703 pra:OtherLimitedPartnershipsandLimitedLiabilityCompanyGreaterThan25PercentOwnershipMember 2019-06-30 0001127703 srt:MaximumMember pra:TaxCreditPartnershipsAlmost100OwnershipMember 2019-06-30 0001127703 pra:TaxCreditPartnershipsAlmost100OwnershipMember 2018-12-31 0001127703 us-gaap:ShortTermInvestmentsMember 2019-06-30 0001127703 pra:OtherLimitedPartnershipsandLimitedLiabilityCompanyMember 2018-12-31 0001127703 pra:OtherTaxCreditPartnershipsMember 2018-12-31 0001127703 pra:OtherLimitedPartnershipsandLimitedLiabilityCompanyMember 2019-06-30 0001127703 pra:QualifiedAffordableHousingTaxCreditPartnershipsMember 2019-06-30 0001127703 pra:OtherTaxCreditPartnershipsMember 2019-06-30 0001127703 pra:QualifiedAffordableHousingTaxCreditPartnershipsMember 2018-12-31 0001127703 pra:RetroactiveInsuranceContractMember 2018-06-30 0001127703 pra:RetroactiveInsuranceContractMember 2018-01-01 2018-06-30 0001127703 pra:RetroactiveInsuranceContractProspectiveCoverageMember 2018-01-01 2018-06-30 0001127703 pra:RetroactiveInsuranceContractRetroactiveCoverageMember 2018-01-01 2018-06-30 0001127703 2018-01-01 2018-12-31 0001127703 pra:RetroactiveInsuranceContractMember 2018-01-01 2018-12-31 0001127703 pra:LloydsSyndicatesMember 2019-06-30 0001127703 pra:CommitmenttoProvideCapitalMember pra:LloydsSyndicatesMember 2019-06-30 0001127703 pra:FundingCommitmentsMember 2019-06-30 0001127703 pra:DataAnalyticsServicesMember 2019-01-01 2019-06-30 0001127703 pra:DataAnalyticsServicesMember 2019-06-30 0001127703 pra:DataAnalyticsServicesMember 2019-04-01 2019-06-30 0001127703 srt:MaximumMember 2019-06-30 0001127703 srt:MinimumMember 2019-06-30 0001127703 pra:Seniornotesdue2023Member us-gaap:SeniorNotesMember 2019-06-30 0001127703 us-gaap:MortgagesMember 2018-12-31 0001127703 us-gaap:RevolvingCreditFacilityMember us-gaap:LineOfCreditMember 2018-12-31 0001127703 us-gaap:MortgagesMember 2019-06-30 0001127703 pra:Seniornotesdue2023Member us-gaap:SeniorNotesMember 2018-12-31 0001127703 us-gaap:RevolvingCreditFacilityMember us-gaap:LineOfCreditMember 2019-06-30 0001127703 us-gaap:MortgagesMember us-gaap:LondonInterbankOfferedRateLIBORMember 2019-01-01 2019-06-30 0001127703 us-gaap:MortgagesMember us-gaap:LondonInterbankOfferedRateLIBORMember 2018-01-01 2018-12-31 0001127703 us-gaap:InterestRateCapMember 2019-06-30 0001127703 us-gaap:OtherAssetsMember us-gaap:InterestRateCapMember 2019-06-30 0001127703 us-gaap:InterestRateCapMember us-gaap:InterestExpenseMember 2019-01-01 2019-06-30 0001127703 us-gaap:InterestRateCapMember us-gaap:InterestExpenseMember 2018-01-01 2018-06-30 0001127703 us-gaap:InterestRateCapMember us-gaap:InterestExpenseMember 2019-04-01 2019-06-30 0001127703 us-gaap:InterestRateCapMember us-gaap:InterestExpenseMember 2018-04-01 2018-06-30 0001127703 us-gaap:OtherAssetsMember us-gaap:InterestRateCapMember 2018-12-31 0001127703 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-01-01 2018-06-30 0001127703 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2018-04-01 2018-06-30 0001127703 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-01-01 2019-06-30 0001127703 us-gaap:AccumulatedNetUnrealizedInvestmentGainLossMember 2019-04-01 2019-06-30 0001127703 srt:MaximumMember us-gaap:PerformanceSharesMember 2019-01-01 2019-06-30 0001127703 us-gaap:RestrictedStockUnitsRSUMember 2019-02-01 2019-02-28 0001127703 2019-02-01 2019-02-28 0001127703 2018-01-01 2018-03-31 0001127703 us-gaap:PerformanceSharesMember 2019-02-01 2019-02-28 0001127703 srt:MinimumMember us-gaap:PerformanceSharesMember 2019-01-01 2019-06-30 0001127703 srt:MaximumMember pra:PerformanceSharesGrantedin2016Member 2019-01-01 2019-06-30 0001127703 2019-01-01 2019-03-31 0001127703 us-gaap:RestrictedStockUnitsRSUMember 2019-01-01 2019-06-30 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2018-12-31 0001127703 pra:InvestmentsInUnconsolidatedSubsidiariesMember us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember 2019-06-30 0001127703 us-gaap:PerformanceSharesMember 2018-04-01 2018-06-30 0001127703 us-gaap:PerformanceSharesMember 2019-01-01 2019-06-30 0001127703 pra:EmployeePurchasePlanMember 2018-01-01 2018-06-30 0001127703 pra:EmployeePurchasePlanMember 2018-04-01 2018-06-30 0001127703 us-gaap:RestrictedStockUnitsRSUMember 2018-01-01 2018-06-30 0001127703 us-gaap:RestrictedStockUnitsRSUMember 2019-04-01 2019-06-30 0001127703 us-gaap:PerformanceSharesMember 2018-01-01 2018-06-30 0001127703 pra:EmployeePurchasePlanMember 2019-04-01 2019-06-30 0001127703 us-gaap:PerformanceSharesMember 2019-04-01 2019-06-30 0001127703 pra:EmployeePurchasePlanMember 2019-01-01 2019-06-30 0001127703 us-gaap:RestrictedStockUnitsRSUMember 2018-04-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:LloydsSyndicatesMember 2018-01-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SegregatedPortfolioCellReinsuranceMember 2018-01-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SpecialtyPropertyandCasualtyMember 2018-01-01 2018-06-30 0001127703 us-gaap:IntersegmentEliminationMember 2018-01-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:CorporateMember 2018-01-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:WorkersCompensationInsuranceMember 2018-01-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:CorporateMember 2018-04-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:LloydsSyndicatesMember 2018-04-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SegregatedPortfolioCellReinsuranceMember 2018-04-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SpecialtyPropertyandCasualtyMember 2018-04-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:WorkersCompensationInsuranceMember 2018-04-01 2018-06-30 0001127703 us-gaap:IntersegmentEliminationMember 2018-04-01 2018-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:LloydsSyndicatesMember 2019-04-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SpecialtyPropertyandCasualtyMember 2019-04-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:CorporateMember 2019-04-01 2019-06-30 0001127703 us-gaap:IntersegmentEliminationMember 2019-04-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SegregatedPortfolioCellReinsuranceMember 2019-04-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:WorkersCompensationInsuranceMember 2019-04-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:CorporateMember 2019-01-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SpecialtyPropertyandCasualtyMember 2019-01-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:SegregatedPortfolioCellReinsuranceMember 2019-01-01 2019-06-30 0001127703 us-gaap:IntersegmentEliminationMember 2019-01-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember pra:LloydsSyndicatesMember 2019-01-01 2019-06-30 0001127703 us-gaap:OperatingSegmentsMember us-gaap:WorkersCompensationInsuranceMember 2019-01-01 2019-06-30 0001127703 us-gaap:WorkersCompensationInsuranceMember 2018-04-01 2018-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SegregatedPortfolioCellReinsuranceMember 2018-04-01 2018-06-30 0001127703 pra:SegregatedPortfolioCellReinsuranceMember 2018-04-01 2018-06-30 0001127703 pra:LloydsSyndicatesMember 2018-04-01 2018-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2018-04-01 2018-06-30 0001127703 pra:WorkersCompensationAlternativeMarketBusinessMember pra:SegregatedPortfolioCellReinsuranceMember 2018-01-01 2018-06-30 0001127703 pra:SegregatedPortfolioCellReinsuranceMember 2019-01-01 2019-06-30 0001127703 pra:OtherPremiumsMember pra:SpecialtyPropertyandCasualtyMember 2019-01-01 2019-06-30 0001127703 pra:SpecialtyPropertyandCasualtyMember 2019-04-01 2019-06-30 0001127703 pra:SegregatedPortfolioCellReinsuranceMember 2019-04-01 2019-06-30 0001127703 pra:LloydsSyndicatesMember 2019-04-01 2019-06-30 0001127703 pra:MedicalTechnologyandLifeSciencesProductLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2019-01-01 2019-06-30 0001127703 pra:SegregatedPortfolioCellReinsuranceMember 2018-01-01 2018-06-30 0001127703 pra:LegalProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2019-04-01 2019-06-30 0001127703 pra:SpecialtyPropertyandCasualtyMember 2019-01-01 2019-06-30 0001127703 pra:LloydsSyndicatesMember 2018-01-01 2018-06-30 0001127703 pra:MedicalTechnologyandLifeSciencesProductLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2019-04-01 2019-06-30 0001127703 pra:MedicalTechnologyandLifeSciencesProductLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2018-01-01 2018-06-30 0001127703 pra:AlternativeMarketBusinessMember us-gaap:WorkersCompensationInsuranceMember 2019-01-01 2019-06-30 0001127703 pra:OtherPremiumsMember pra:SegregatedPortfolioCellReinsuranceMember 2019-01-01 2019-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SegregatedPortfolioCellReinsuranceMember 2018-01-01 2018-06-30 0001127703 pra:WorkersCompensationAlternativeMarketBusinessMember pra:SegregatedPortfolioCellReinsuranceMember 2018-04-01 2018-06-30 0001127703 pra:AlternativeMarketBusinessMember us-gaap:WorkersCompensationInsuranceMember 2018-01-01 2018-06-30 0001127703 pra:TraditionalBusinessMember us-gaap:WorkersCompensationInsuranceMember 2019-01-01 2019-06-30 0001127703 pra:SpecialtyPropertyandCasualtyMember 2018-04-01 2018-06-30 0001127703 pra:OtherPremiumsMember pra:SegregatedPortfolioCellReinsuranceMember 2018-01-01 2018-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SegregatedPortfolioCellReinsuranceMember 2019-01-01 2019-06-30 0001127703 pra:WorkersCompensationAlternativeMarketBusinessMember pra:SegregatedPortfolioCellReinsuranceMember 2019-01-01 2019-06-30 0001127703 us-gaap:WorkersCompensationInsuranceMember 2019-01-01 2019-06-30 0001127703 pra:AlternativeMarketBusinessMember us-gaap:WorkersCompensationInsuranceMember 2018-04-01 2018-06-30 0001127703 pra:LloydsSyndicatesMember 2019-01-01 2019-06-30 0001127703 pra:OtherPremiumsMember pra:SpecialtyPropertyandCasualtyMember 2018-01-01 2018-06-30 0001127703 pra:OtherPremiumsMember pra:SpecialtyPropertyandCasualtyMember 2018-04-01 2018-06-30 0001127703 pra:SpecialtyPropertyandCasualtyMember 2018-01-01 2018-06-30 0001127703 pra:OtherPremiumsMember pra:SegregatedPortfolioCellReinsuranceMember 2018-04-01 2018-06-30 0001127703 us-gaap:WorkersCompensationInsuranceMember 2019-04-01 2019-06-30 0001127703 pra:LegalProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2019-01-01 2019-06-30 0001127703 pra:AlternativeMarketBusinessMember us-gaap:WorkersCompensationInsuranceMember 2019-04-01 2019-06-30 0001127703 pra:WorkersCompensationAlternativeMarketBusinessMember pra:SegregatedPortfolioCellReinsuranceMember 2019-04-01 2019-06-30 0001127703 pra:MedicalTechnologyandLifeSciencesProductLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2018-04-01 2018-06-30 0001127703 pra:TraditionalBusinessMember us-gaap:WorkersCompensationInsuranceMember 2018-01-01 2018-06-30 0001127703 pra:LegalProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2018-04-01 2018-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2019-04-01 2019-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2018-01-01 2018-06-30 0001127703 us-gaap:WorkersCompensationInsuranceMember 2018-01-01 2018-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2019-01-01 2019-06-30 0001127703 pra:OtherPremiumsMember pra:SegregatedPortfolioCellReinsuranceMember 2019-04-01 2019-06-30 0001127703 pra:OtherPremiumsMember pra:SpecialtyPropertyandCasualtyMember 2019-04-01 2019-06-30 0001127703 pra:TraditionalBusinessMember us-gaap:WorkersCompensationInsuranceMember 2018-04-01 2018-06-30 0001127703 pra:LegalProfessionalLiabilityMember pra:SpecialtyPropertyandCasualtyMember 2018-01-01 2018-06-30 0001127703 pra:TraditionalBusinessMember us-gaap:WorkersCompensationInsuranceMember 2019-04-01 2019-06-30 0001127703 pra:HealthcareProfessionalLiabilityMember pra:SegregatedPortfolioCellReinsuranceMember 2019-04-01 2019-06-30 0001127703 pra:Syndicate1729Member 2018-12-31 0001127703 us-gaap:WorkersCompensationInsuranceMember 2019-06-30 0001127703 pra:Syndicate1729Member 2019-01-01 0001127703 pra:Syndicate6131Member 2018-01-01 xbrli:shares pra:Agreement xbrli:pure pra:segment iso4217:USD xbrli:shares iso4217:USD iso4217:GBP pra:Business pra:investment_interest pra:Issuer pra:Security pra:partition pra:derivative_instrument

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

For the quarterly period ended June 30, 2019 or

For the transition period from              to                          

Commission file number 0-16533

ProAssurance Corporation

(Exact Name of Registrant as Specified in Its Charter)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  ☒    No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  ☒    No  ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).     Yes  ☐   No  ☒

As of July 31, 2019, there were 53,760,019 shares of the registrant’s common stock outstanding.

Caution Regarding Forward-Looking Statements

Any statements in this Form 10-Q that are not historical facts are specifically identified as forward-looking statements. These statements are based upon our estimates and anticipation of future events and are subject to significant risks, assumptions and uncertainties that could cause actual results to vary materially from the expected results described in the forward-looking statements. Forward-looking statements are identified by words such as, but not limited to, "anticipate," "believe," "estimate," "expect," "hope," "hopeful," "intend," "likely," "may," "optimistic," "possible," "potential," "preliminary," "project," "should," "will" and other analogous expressions. There are numerous factors that could cause our actual results to differ materially from those in the forward-looking statements. Thus, sentences and phrases that we use to convey our view of future events and trends are expressly designated as forward-looking statements as are sections of this Form 10-Q that are identified as giving our outlook on future business.

Forward-looking statements relating to our business include among other things: statements concerning future liquidity and capital requirements, investment valuation and performance, return on equity, financial ratios, net income, premiums, losses and loss reserve, premium rates and retention of current business, competition and market conditions, the expansion of product lines, the development or acquisition of business in new geographical areas, the availability of acceptable reinsurance, actions by regulators and rating agencies, court actions, legislative actions, payment or performance of obligations under indebtedness, payment of dividends and other matters.

These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following factors that could affect the actual outcome of future events:

Our results may differ materially from those we expect and discuss in any forward-looking statements. The principal risk factors that may cause these differences are described in "Item 1A, Risk Factors" in our Form 10-K and other documents we file with the SEC, such as our current reports on Form 8-K and our regular reports on Form 10-Q.

We caution readers not to place undue reliance on any such forward-looking statements, which are based upon conditions existing only as of the date made, and advise readers that these factors could affect our financial performance and could cause actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. Except as required by law or regulations, we do not undertake and specifically decline any obligation to publicly release the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

ProAssurance Corporation and Subsidiaries

Condensed Consolidated Balance Sheets (Unaudited)

(In thousands, except share data)

See accompanying notes.

ProAssurance Corporation and Subsidiaries

Condensed Consolidated Statements of Changes in Capital (Unaudited)

(In thousands)

 

See accompanying notes.

ProAssurance Corporation and Subsidiaries

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)

(In thousands, except per share data)

See accompanying notes.

ProAssurance Corporation and Subsidiaries

Condensed Consolidated Statements of Cash Flows (Unaudited)

(In thousands)