ProAssurance Corporation (PRA) will pay a $4.69 per share special dividend, together with the regular $0.31 per share quarterly dividend.

Both will be paid on January 9, 2017 to shareholders who own our stock as of December 23, 2016.

"We believe that today's declaration of a special dividend is the correct response to current market conditions which challenge our ability to deploy capital in a prudent, profitable manner in our business. With this dividend we are reaffirming ProAssurance's commitment to effective stewardship of the capital entrusted to us by our shareholders while maintaining financial flexibility to deploy capital through various other business activities should those opportunities arise," said W. Stancil Starnes, our Chairman and Chief Executive Officer.

ProAssurance Corporation is an insurer specialized in healthcare professional liability, products liability for medical technology and life sciences, legal professional liability, and workers' compensation insurance.