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Derivatives (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Swaps
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 September 30, 2025 and December 31, 2024.
($ in thousands)September 30, 2025December 31, 2024
Derivative Instruments
Location in the Condensed Consolidated Balance SheetsNumber 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 SwapsOther Assets2$240,625$7342$245,313$5,801
Foreign Currency Forwards
Other Assets (Liabilities)
2$124,747$(1,540)1$5,470$293
(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 and nine months ended September 30, 2025 and 2024, 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 September 30Nine Months Ended September 30
Derivatives Designated as Hedging Instruments
Location in the Condensed Consolidated Statements of Income and Comprehensive Income
2025202420252024
Cash Flow Hedge- Interest Rate SwapsInterest Expense$535$1,068$1,620$3,192
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 and nine months ended September 30, 2025.
(In thousands)Three Months Ended September 30Nine Months Ended September 30
Derivatives not Designated as Hedging Instruments
Location in the Consolidated Statements of Income and Comprehensive Income
2025202420252024
Foreign Currency Forwards
Other Income (Expense)
$(1,347)$— $5,977 $—