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CORRECTING and REPLACING EmPRO Grows Premium 7% with Combined Ratio of 87.9% as Expansion in Northeast Region Continues

Published a day ago via Business Wire

In the first paragraph, second sentence the text should read: with liabilities of $466.4 million (instead of: with liabilities of $446.4 million).

The updated release reads:

EMPRO GROWS PREMIUM 7% WITH COMBINED RATIO OF 87.9% AS EXPANSION IN NORTHEAST REGION CONTINUES

EmPRO Insurance Company (“EmPRO”), a licensed medical professional liability insurance carrier serving physicians and healthcare facilities, reported impressive financial results for the fourth year in a row since its launch in 2020. For the year ended December 31, 2024, EmPRO reported admitted assets of $571.8 million—an increase of 17.3%—with liabilities of $466.4 million, reserves of $349.7 million, and a surplus of $105.4 million. EmPRO grew net income to $18.3 million on gross written premium of $190.2 million, while achieving a strong combined ratio of 87.9%.

With these results, EmPRO, a wholly owned subsidiary of Physicians’ Reciprocal Insurers (“PRI”), maintains its position as the third largest admitted medical malpractice insurer in New York State, and the thirteenth largest medical professional insurer in the United States. In addition to New York, EmPRO now has the ability to write business in New Jersey, Connecticut, Massachusetts, and Pennsylvania. EmPRO opened its Hamilton, New Jersey office in 2023 and its Boston, Massachusetts office in 2025 to serve its insureds throughout the Northeast.

“In 2024 we delivered strong performance and hit multiple key milestones, underscoring EmPRO’s commitment to support and defend physicians and healthcare facilities,” said Bruce Shulan, President and CEO, EmPRO. “With disciplined underwriting and strategic expansion into new markets, we continue to strengthen our position as a trusted partner. As we extend our footprint across the Northeast, we remain dedicated to delivering best-in-class service and deep-rooted experience to our insureds.”

“We have made incredible strides over the last year and are confident EmPRO will continue to raise the standards for medical malpractice insurance,” added Brian Nolan, Executive Vice President and Chief Operating Officer, EmPRO. “Our sustained growth last year and financial strength allow us to provide the necessary support to physicians and healthcare facilities, ensuring they have the protection they expect. Our focus remains on delivering exceptional service and solutions to meet the evolving needs of our insureds as we continue to grow into a leader across the Northeast region.”

About EmPRO Insurance Company

EmPRO is a licensed medical professional liability insurance carrier headquartered in New York State and dedicated to protecting physicians, healthcare facilities, and healthcare providers. A subsidiary of Physicians’ Reciprocal Insurers, EmPRO is managed by PRIMMA LLC, PRI’s wholly owned Attorney-in-Fact. EmPRO provides the medical community with personalized underwriting services, aggressive claims defense, and effective risk management strategies. Learn more at myempro.com.

For the year ended December 31, 2024, EmPRO reported admitted assets of $571.8 million—an increase of 17.3%—with liabilities of $466.4 million, reserves of $349.7 million, and a surplus of $105.4 million.

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