In a landmark deal set to reshape the medical professional liability landscape, The Doctors Company — the largest physician-owned medical malpractice insurer in the U.S. — has announced plans to acquire ProAssurance Corporation for $25.00 per share in cash. The $1.3 billion transaction represents a 60% premium over ProAssurance’s most recent closing price and signals a powerful consolidation of two mission-driven, physician-founded organizations.
Strengthening the Commitment to Healthcare Providers
This acquisition isn’t just about numbers—it’s about a deepened commitment to the healthcare community. Both The Doctors Company and ProAssurance share a unique legacy: founded by physicians in response to the medical liability crisis of the 1970s, both have a longstanding mission to protect healthcare professionals with tailored liability solutions.
“The addition of ProAssurance to The Doctors Company significantly enhances our ability to serve healthcare professionals now and well into the future,” said Dr. Richard E. Anderson, Chairman and CEO of The Doctors Company. “Healthcare is a team sport and the teams are getting larger. To serve them best requires a company with nationwide scale, resources, and a dedication to all medical professions.”
What the Deal Means for the Industry
The combined organization will hold approximately $12 billion in assets, further solidifying its role as a national leader in medical liability protection. By joining forces, the companies aim to deliver broader coverage, deeper expertise, and stronger financial backing to a larger pool of healthcare providers, including specialists in medical technology, life sciences, and workers’ compensation.
ProAssurance’s CEO Ned Rand emphasized the cultural and operational alignment that made the deal a natural fit. “Both companies have fulfilled a shared mission to protect others, with similar philosophies and cultures. This transaction delivers significant value to our shareholders while positioning our teams to better serve today’s complex healthcare landscape.”
What’s Next
The ProAssurance Board of Directors has unanimously approved the transaction and recommends that shareholders do the same. Subject to regulatory and shareholder approval, the acquisition is expected to close in the first half of 2026. Upon completion, ProAssurance will become a wholly owned subsidiary of The Doctors Company, and its shares will be delisted from the New York Stock Exchange.
This move underscores the growing trend of strategic consolidation in the insurance industry, especially within niche sectors like medical professional liability. With this acquisition, The Doctors Company is poised to continue its leadership role in safeguarding the practice of good medicine for generations to come.
About The Doctors Company
Founded and led by physicians, The Doctors Company (thedoctors.com), the nation’s largest physician-owned medical malpractice insurer, is relentlessly committed to advancing, protecting, and rewarding the practice of good medicine. The Doctors Company helps all healthcare providers manage the complexities of today’s healthcare environment—with expert guidance, resources, and coverage. The Doctors Company is part of TDC Group (tdcg.com), the nation’s largest physician-owned provider of insurance and risk management solutions. TDC Group serves the full continuum of care, from individual clinicians to academic medical systems—with over 110,000 healthcare professionals and organizations nationwide—with annual revenue of $1.5 billion and more than $8 billion in assets. To learn more about our data-driven insights and to stay up to date on industry trends, follow and subscribe to The Doctors Company on X (@doctorscompany), YouTube, LinkedIn, and Facebook.
About ProAssurance Corporation
ProAssurance is an industry-leading specialty insurer with extensive expertise in medical professional liability and product liability for medical technology and life sciences. ProAssurance is also a provider of workers’ compensation insurance in the eastern U.S. ProAssurance is rated “A” (Excellent) by AM Best. For the latest on ProAssurance and its industry-leading suite of products and services, cutting-edge risk management, and practice enhancement programs, visit the company’s website at proassurancegroup.com, with investor content available at Investor.proassurance.com.
Get the latest insurance market updates and discover exclusive program opportunities at ProgramBusiness.com.