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New Deal


Announced

Completed

ProAssurance completed the acquisition of NORCAL Group for $450m.

Financials

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Transaction Value£349m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

United States

Private

health insurance brokerage

Majority

Single Bidder

health insurance

insurance brokerage services

Insurance Brokers

Friendly

Domestic

Completed

Synopsis

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ProAssurance, a specialty insurance provider, completed the acquisition of NORCAL Group, a health care insurance brokerage services, for $450m. "The completion of the NORCAL transaction marks a significant milestone in our Mission to Protect Others. NORCAL is one of the leading writers of medical professional liability insurance in the country. We believe their contributions to our customers and culture will expand our product capabilities with broader geographic scale and efficiencies and will support a true nationwide platform to deliver value to our customers and stakeholders. We are delighted to welcome NORCAL’s employees and policyholders to our family," Ned Rand, ProAssurance President and CEO.

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