Debt (Tables)

3 Months Ended

Mar. 31, 2026

ProAssurance’s outstanding debt consisted of the following:


($ in thousands)	March 31, 2026		December 31, 2025

Contribution Certificates due 2031, interest at 3.0% (effective interest rate at 3.88%) paid annually in April	$	182,838	$	182,500
Revolving Credit Agreement, outstanding borrowings are not permitted to exceed $300 million aggregately, including a $50 million accordion feature; Revolving Credit Agreement expires in 2028. The effective interest rate was 5.67% as of March 31, 2026	125,000		125,000
Term Loan, principal repayments in quarterly installments; Term Loan expires in 2028. The effective interest rate was 5.80% as of March 31, 2026	112,500		114,063
Total principal	420,338		421,563
Less unamortized debt issuance costs	1,032		1,146
Debt less unamortized debt issuance costs	$	419,306	$	420,417

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details