industry property & casualty insurance founded 1975 headquarters birmingham alabama usa key people w. stancil starnes chief executive officer edward l. rand jr. chief financial officer products insurance revenue 715 million usd 2012 number of employees 690 2012 website proassurance.com proassurance corporation headquartered in birmingham alabama is a property and casualty company that sells professional liability insurance to doctors . the company was founded in 1975 as medical assurance . the name proassurance was created in 2001 when medical assurance merged with professionals group . the company is currently the fourth largest medical professional liability insurance writer and has over 4.5 billion in assets . 1 2 on november 7 2005 the company sold its personal lines insurance operations known as meemic insurance company to ally financial gmac for 400 million . of the 400 million 327 million was to be paid in cash an 73 million was to be in capital that was held in meemic . 3 the sale was completed on january 4 2006 . 4 the company operates five principal subsidiaries proassurance indemnity company formerly the medical assurance company proassurance casualty company formerly pronational insurance company proassurance wisconsin insurance company formerly pic wisconsin proassurance specialty insurance company formerly red mountain casualty insurance company and proassurance national capital insurance company formerly ncric inc. . on april 1 2009 the podiatry insurance company of america pica joined the proassurance organization . 5 pica is domiciled in illinois and its offices are in brentwood tennessee . references edit proassurance history d.c. department approves proassurance acquisition of ncric inc. ; aug. 2 vote scheduled insurance journal july 14 2005 proassurance sells personal lines business to gmac subsidiary birmingham business journal november 7 2005 proassurance closes sale of meemic insurance birmingham business journal january 4 2006 proassurance closes pica transaction prnewswire.com external links edit proassurance website pica website retrieved from https en.wikipedia.org w index.php title proassurance & oldid 732837522 categories companies based in birmingham alabamacompanies listed on the new york stock exchangeinsurance companies of the united statesmedical malpracticehidden categories pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 3 august 2016 at 15 34 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view