ProAssurance authorizes $15.8 million for redemption of NCRIC's debentures

By Devika Patel

Knoxville, Tenn., Dec. 6 - ProAssurance Corp. authorized $15.8 million to buy back the outstanding debentures of its subsidiary, NCRIC Corp., according to an 8-K filed Thursday with the Securities and Exchange Commission.

The redemption was initiated by the trustee on Dec. 4, the 8-K said.

ProAssurance filed another 8-K on Oct. 15 announcing its plans to redeem the notes.

ProAssurance is a Birmingham, Ala.-based specialty insurer.

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