Derivatives (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table provides a summary of the volume and fair value position of the Company's derivative instruments as well as the reporting location in the Condensed Consolidated Balance Sheet as of March 31, 2026 and December 31, 2025.


($ in thousands)		March 31, 2026			December 31, 2025
Derivative Instruments	Location in the Condensed Consolidated Balance Sheets	Number of Instruments	Aggregate Notional Amount(1)	Estimated Fair Value(2)	Number of Instruments	Aggregate Notional Amount(1)	Estimated Fair Value(2)
Cash Flow Hedge- Interest Rate Swaps	Other Assets	2	$237,500	$1,765	2	$239,063	$399
Foreign Currency Forwards	Other Liabilities	6	$141,926	$(286)	1	$133,204	$(475)

(1) Volume is represented by the derivative instruments' notional amount.

(2) Additional information regarding the fair value of the Company's Interest Rate Swaps and foreign currency forwards is provided in Note 2.

Schedule of Derivative Instruments, Gain (Loss)

For the three months ended March 31, 2026 and 2025, ProAssurance reclassified a gain on the Interest Rate Swaps from AOCI, net of tax, into earnings as shown in the table below:

Qualifying Cash Flow Hedges - Gains (Losses) Reclassified from AOCI, net of tax, to Earnings

(In thousands)

Three Months Ended March 31

Derivatives Designated as Hedging Instruments

Location in the Condensed Consolidated Statements of Income and Comprehensive Income

2026

2025

Cash Flow Hedge- Interest Rate Swaps

Interest Expense

$224

$548

The following table presents the pre-tax impact of the change in the fair value of the foreign currency forwards and the reporting location in the Condensed Consolidated Statements of Income and Comprehensive Income for the three months ended March 31, 2026 and 2025.



(In thousands)		Three Months Ended March 31
Derivatives not Designated as Hedging Instruments	Location in the Consolidated Statements of Income and Comprehensive Income		2026		2025
Foreign Currency Forwards	Other Income (Expense)		$	3,476	$	(1,426)