Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Segment Reporting Information, by Segment

Financial data by segment were as follows:



	Year Ended December 31, 2015
(In thousands)	Specialty P&C			Workers' Compensation			Lloyd's Syndicate			Corporate			Inter-segment Eliminations			Consolidated
Net premiums earned	$	443,313		$	213,161		$	37,675		$	—		$	—		$	694,149
Net investment income	—			—			928			107,732			—			108,660
Equity in earnings (loss) of unconsolidated subsidiaries	—			—			—			3,682			—			3,682
Net realized gains (losses)	—			—			24			(41,663		)	—			(41,639		)
Other income	4,561			492			698			2,057			(581		)	7,227
Net losses and loss adjustment expenses (1)	(250,168		)	(140,744		)	(25,181		)	—			5,382			(410,711		)
Underwriting, policy acquisition and operating expenses (2)	(105,574		)	(63,653		)	(18,518		)	(24,518		)	(4,801		)	(217,064		)
Segregated portfolio cells dividend (expense) income	—			(853		)	—			—			—			(853		)
Interest expense	—			—			—			(14,596		)	—			(14,596		)
Income tax benefit (expense)	—			—			(1,240		)	(11,418		)	—			(12,658		)
Segment operating results	$	92,132		$	8,403		$	(5,614	)	$	21,276		$	—		$	116,197
Significant non-cash items:
Depreciation and amortization	$	8,663		$	5,696		$	417		$	21,624		$	—		$	36,400



	Year Ended December 31, 2014
(In thousands)	Specialty P&C			Workers' Compensation			Lloyd's Syndicate			Corporate			Inter-segment Eliminations			Consolidated
Net premiums earned	$	492,733		$	194,540		$	12,458		$	—		$	—		$	699,731
Net investment income	—			—			410			125,147			—			125,557
Equity in earnings (loss) of unconsolidated subsidiaries	—			—			—			3,986			—			3,986
Net realized gains (losses)	—			—			4			14,650			—			14,654
Other income	5,823			645			126			2,285			(481		)	8,398
Gain on acquisition	—			—			—			—			—			—
Net losses and loss adjustment expenses (1)	(228,199		)	(126,447		)	(8,438		)	—			—			(363,084		)
Underwriting, policy acquisition and operating expenses (2)	(133,132		)	(60,357		)	(9,535		)	(8,768		)	481			(211,311		)
Segregated portfolio cells dividend (expense) income	—			(1,842		)	—			—			—			(1,842		)
Interest expense	—			—			—			(14,084		)	—			(14,084		)
Income tax benefit (expense)	—			—			—			(65,440		)	—			(65,440		)
Segment operating results	$	137,225		$	6,539		$	(4,975	)	$	57,776		$	—		$	196,565
Significant non-cash items:
Depreciation and amortization	$	8,945		$	5,828		$	477		$	24,344		$	—		$	39,594



	Year Ended December 31, 2013
(In thousands)	Specialty P&C			Workers' Compensation		Lloyd's Syndicate		Corporate			Inter-segment Eliminations			Consolidated
Net premiums earned	$	527,919		$	—	$	—	$	—		$	—		$	527,919
Net investment income	—			—		—		129,265			—			129,265
Equity in earnings (loss) of unconsolidated subsidiaries	—			—		—		7,539			—			7,539
Net realized gains (losses)	—			—				67,904			—			67,904
Other income	5,648			—		—		1,910			(7		)	7,551
Gain on acquisition	—			—		—		32,314			—			32,314
Net losses and loss adjustment expenses (1)	(224,761		)	—		—		—			—			(224,761		)
Underwriting, policy acquisition and operating expenses (2)	(132,076		)	—		—		(15,748		)	7			(147,817		)
Interest expense	—			—		—		(2,755		)	—			(2,755		)
Loss on extinguishment of debt	—			—		—		—			—			—
Income tax benefit (expense)	—							(99,636		)				(99,636		)
Segment operating results	$	176,730		$	—	$	—	$	120,793		$	—		$	297,523
Significant non-cash items:
Depreciation and amortization	$	7,199		$	—	$	—	$	28,634		$	—		$	35,833
(1) Beginning in 2015, the operating subsidiaries within the Specialty P&C and Workers' Compensation segments were charged a management fee by the Corporate segment for various management services provided to the subsidiary. The portion of the management fee that is allocated to ULAE is eliminated in consolidation.
(2) Under the management fee arrangement mentioned above, such services are reported as expenses of the Corporate segment, and the management fees charged are reported as an offset to Corporate operating expenses. Prior to 2015, a substantial portion of expenses associated with corporate services were directly allocated to the insurance subsidiaries included in the Specialty P&C segment.

Revenue from External Customers by Products and Services

The following table provides detailed information regarding ProAssurance's gross premiums earned by product as well as a reconciliation to net premiums earned. All gross premiums earned are from external customers except as noted. ProAssurance's insured risks are primarily within the United States.



	Year Ended December 31
(In thousands)	2015		2014		2013
Specialty P&C Segment
Gross premiums earned:
Healthcare professional liability	$	463,599	$	477,031	$	507,222
Legal professional liability	28,234		28,278		27,162
Medical technology liability	34,838		35,913		33,242
Other	1,447		1,830		1,807
Less: Ceded premiums earned*	84,805		50,319		41,514
Segment net premiums earned	443,313		492,733		527,919

Workers' Compensation Segment
Gross premiums earned:
Traditional business	172,115		160,717		—
Alternative market business	66,168		55,616		—
Less: Ceded premiums earned	25,122		21,793		—
Segment net premiums earned	213,161		194,540		—

Lloyd's Syndicate Segment
Gross premiums earned:
Property and casualty*	43,617		13,429		—
Less: Ceded premiums earned	5,942		971		—
Segment net premiums earned	37,675		12,458		—

Consolidated net premiums earned	$	694,149	$	699,731	$	527,919

* Includes premium ceded from the Specialty P&C segment to the Lloyd's Syndicate segment of $14.4 million and $4.2 million for years ended December 31, 2015 and December 31, 2014, respectively.