More than a year after it announced plans to buy Birmingham, Alabama-based ProAssurance, The Doctors Company said it has completed the billion-dollar acquisition.
The Doctors Company, headquartered in Napa, California, acquired all outstanding shares of ProAssurance for $25 per share, for a total value of about $1.3 billion, the firm said in a news release. The merger makes Doctors, part of TDC Group, the second-largest medical malpractice insurance provider in the United States, behind only Berkshire Hathaway’s MedPro Group, according to news reports.
TDC said it is the nation’s largest physician-owned provider of insurance and risk management services.
ProAssurance shareholders approved the transaction in June 2025.
Doctors now covers more than 200,000 health care professionals and organizations around the country, and notes direct written premium of more than $2.5 billion, along with assets of $12 billion. ProAssurance, now in its 50th year, maintains its name and website but is marked as part of The Doctors Company while “a review process is conducted to identify the optimal operating structure,” the company noted.
ProAssurance common stock with be deregistered with the U.S. Securities and Exchange Commission and will be delisted with the New York Stock Exchange, the company said.
Richard E. Anderson, MD, is chairman and chief executive officer of The Doctors Company and TDC Group. Edward Rand is listed as president and CEO of ProAssurance, the firm’s website indicates.
Related: Claim Severity Trends for Medical Malpractice ‘Stand Out’, Says S&P Global Market Intelligence
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