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ProAssurance Corp (PRA) CEO Edward Rand on Q1 2020 Results - Earnings Call Transcript

May 08, 2020 2:21 PM ETProAssurance Corporation (PRA)
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ProAssurance Corp (NYSE:PRA) Q1 2020 Earnings Conference Call May 8, 2020 10:00 AM ET

Company Participants

Ken McEwen - Manager, IR

Edward Rand - CEO, President & Director

Dana Hendricks - EVP & CFO

Michael Boguski - President, Specialty Property & Casualty

Kevin Shook - President, Eastern Alliance Insurance Group

Conference Call Participants

Mark Hughes - SunTrust Robinson Humphrey

Charles Peters - Raymond James & Associates

Ronald Bobman - Capital Returns Management

Matthew Carletti - JMP Securities

Jon Newsome - Piper Sandler & Co.


Good morning, everyone, and welcome to ProAssurance's conference call to discuss the company's first quarter 2020 results. These results were reported in a news release issued on May 7, 2020, and in the company's quarterly report on Form 10-Q, which was also filed on May 7, 2020. Included in those documents were cautionary statements about the significant risks, uncertainties and other factors that are out of the company's control. It could affect ProAssurance's business and alter expected results. Please review those statements.

Management expects to make statements on this call dealing with projections, estimates and expectations, and explicitly identifies these as forward-looking statements within the meaning of the U.S. federal securities laws and subject to applicable safe harbor protections. The content of this call is accurate only on May 8, 2020, and except as required by law or regulation, ProAssurance will not undertake and expressly disclaims any obligation to update or alter information disclosed as part of these forward-looking statements. The management team of ProAssurance also expects to reference non-GAAP items during today's call. The company's recent news release provides a reconciliation of these non-GAAP numbers to their GAAP counterparts.

Now I will turn the call over to Mr. Ken McEwen. And I would like to remind you that the call is being recorded, and there will be

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