The Doctors Company has completed its $1.3 billion acquisition of medical malpractice insurer ProAssurance, creating the second-largest provider of medical professional liability insurance in the United States.

The transaction, first announced in 2025, saw The Doctors Company acquire all outstanding shares of Birmingham, Alabama-based ProAssurance for $25 per share, valuing the company at approximately $1.3 billion.

The acquisition strengthens The Doctors Company’s position in the medical malpractice insurance market, placing it behind only Berkshire Hathaway’s MedPro Group in terms of market size.

Expanding Scale in Medical Professional Liability

Following the completion of the transaction, The Doctors Company, part of TDC Group, now provides insurance and risk management services to more than 200,000 healthcare professionals and organizations nationwide.

The combined organization reports more than $2.5 billion in direct written premium and approximately $12 billion in assets, further expanding its presence in the U.S. medical professional liability market.

The Doctors Company describes itself as the nation’s largest physician-owned provider of insurance and risk management services.

Integration Underway

ProAssurance shareholders approved the acquisition in June 2025, allowing the transaction to proceed following the necessary regulatory approvals.

While ProAssurance will continue operating under its existing name and maintain its website during the transition period, the company is now identified as part of The Doctors Company as management evaluates the optimal long-term operating structure.

As part of the acquisition, ProAssurance’s common stock will be deregistered with the U.S. Securities and Exchange Commission and delisted from the New York Stock Exchange.

Leadership Remains in Place

Richard E. Anderson, MD, continues as Chairman and Chief Executive Officer of The Doctors Company and TDC Group.

Edward Rand remains President and Chief Executive Officer of ProAssurance as the integration process moves forward.

The acquisition reflects continued consolidation within the medical professional liability insurance sector, as insurers seek greater scale, broader risk management capabilities and enhanced financial strength to support healthcare providers operating in an increasingly complex risk environment.