Debt (Tables)

9 Months Ended

Sep. 30, 2025

ProAssurance’s outstanding debt consisted of the following:


($ in thousands)	September 30, 2025		December 31, 2024

Contribution Certificates due 2031, interest at 3.0% (effective interest rate at 3.88%) paid annually in April	$	182,158	$	181,163
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 5.98% as of September 30, 2025	125,000		125,000
Term Loan, principal repayments in quarterly installments began June 30, 2024; Term Loan expires in 2028. The effective interest rate was 6.10% as of September 30, 2025	115,625		120,313
Total principal	422,783		426,476
Less unamortized debt issuance costs	1,260		1,603
Debt less unamortized debt issuance costs	$	421,523	$	424,873

- 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