In a high-stakes move poised to reshape the medical malpractice insurance industry, physician-owned insurer The Doctors Company has struck a definitive agreement to acquire ProAssurance Corp. in a colossal $1.3 billion deal. The transaction, expected to close in the first half of 2026, will forge a powerhouse with approximately $12 billion in assets.
The Legal Titans Behind the Deal
Global legal heavyweights are at the helm of this high-profile transaction. Mayer Brown LLP is steering The Doctors Company, while Simpson Thacher & Bartlett LLP and Willkie Farr & Gallagher LLP are representing ProAssurance. The sheer legal muscle involved underscores the magnitude of this merger.
A Premium Payout for Shareholders
Under the terms of the agreement, ProAssurance stockholders will receive $25 per share in cash—an eye-catching 60% premium over the company’s closing price on March 18. This premium valuation signals strong confidence in the strategic vision behind the acquisition.
The Future of ProAssurance
Upon completion, ProAssurance will become a wholly owned subsidiary of The Doctors Company and exit the New York Stock Exchange, marking the end of its publicly traded era. This bold transition aligns with a broader trend of consolidation in the insurance sector, as companies seek to fortify their positions in a rapidly evolving healthcare landscape.
A Mission-Driven Expansion
Dr. Richard E. Anderson, chair and CEO of The Doctors Company, framed the acquisition as a critical step in fulfilling the company’s mission.
