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Segment Information (Tables)
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Financial data by segment for the years December 31, 2014, 2013 and 2012 were as follows:
 
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

Net losses and loss adjustment expenses
(228,199
)
 
(126,447
)
 
(8,438
)
 
—

 
—

 
(363,084
)
Underwriting, policy acquisition and operating expenses
(133,132
)
 
(60,357
)
 
(9,535
)
 
(8,768
)
 
481

 
(211,311
)
Segregated portfolio cells dividend expense
—

 
(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

 
$
35,073

 
$
—

 
$
50,323


 
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
(224,761
)
 
—

 
—

 
—

 
—

 
(224,761
)
Underwriting, policy acquisition and operating expenses
(132,076
)
 
—

 
—

 
(15,748
)
 
7

 
(147,817
)
Interest expense
—

 
—

 
—

 
(2,755
)
 
—

 
(2,755
)
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

 
$
—

 
$
—

 
$
38,768

 
$
—

 
$
45,967

 
Year Ended December 31, 2012
(In thousands)
Specialty P&C
 
Workers' Compensation
 
Lloyd's Syndicate
 
Corporate
 
Inter-segment Eliminations
 
Consolidated
Net premiums earned
$
550,664

 
$
—

 
$
—

 
$
—

 
$
—

 
$
550,664

Net investment income
—

 
—

 
—

 
136,094

 
—

 
136,094

Equity in earnings (loss) of unconsolidated subsidiaries
—

 
—

 
—

 
(6,873
)
 
—

 
(6,873
)
Net realized gains (losses)
—

 
—

 
 
 
28,863

 
—

 
28,863

Other income
5,331

 
—

 
—

 
1,825

 
(50
)
 
7,106

Gain on acquisition
—

 
—

 
—

 
—

 
—

 
—

Net losses and loss adjustment expenses
(179,913
)
 
—

 
—

 
—

 
—

 
(179,913
)
Underwriting, policy acquisition and operating expenses
(125,292
)
 
—

 
—

 
(10,389
)
 
50

 
(135,631
)
Interest expense
—

 
—

 
—

 
(2,181
)
 
—

 
(2,181
)
Loss on extinguishment of debt
—

 
—

 
—

 
(2,163
)
 
—

 
(2,163
)
Income tax benefit (expense)
—

 
 
 
 
 
(120,496
)
 
 
 
(120,496
)
Segment operating results
$
250,790

 
$
—

 
$
—

 
$
24,680

 
$
—

 
$
275,470

Significant non-cash items
 
 
 
 
 
 
 
 
 
 
 
Depreciation and amortization
$
7,355

 
$
—

 
$
—

 
$
30,218

 
$
—

 
$
37,573
Revenue from External Customers by Products and Services
The following table provides detailed information regarding gross premiums earned by major category within each segment 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)
 
2014
 
2013
 
2012
Specialty P&C Segment
 
 
 
 
 
 
Gross premiums earned:
 
 
 
 
 
 
    Healthcare professional liability
 
$
477,031

 
$
507,222

 
$
539,729

    Legal professional liability
 
28,278

 
27,162

 
17,042

    Medical technology and life sciences products liability
 
35,913

 
33,242

 
—

    Other
 
1,830

 
1,807

 
1,545

Ceded premiums earned*
 
(50,319
)
 
(41,514
)
 
(7,652
)
     Segment net premiums earned
 
$
492,733

 
$
527,919

 
$
550,664

 
 
 
 
 
 
 
Workers' Compensation Segment
 
 
 
 
 
 
Gross premiums earned:
 
 
 
 
 
 
    Traditional business
 
$
160,717

 
$
—

 
$
—

    Alternative market business
 
55,616

 
—

 
—

Ceded premiums earned
 
(21,793
)
 
—

 
—

     Segment net premiums earned
 
$
194,540

 
$
—

 
$
—

 
 
 
 
 
 
 
Lloyd's Syndicate Segment
 
 
 
 
 
 
Gross premiums earned:
 
 
 
 
 
 
    Property and casualty*
 
$
13,429

 
$
—

 
$
—

Ceded premiums earned
 
(971
)
 
—

 
—

     Segment net premiums earned
 
$
12,458

 
$
—

 
$
—

 
 
 
 
 
 
 
Consolidated net premiums earned
 
$
699,731

 
$
527,919

 
$
550,664

* Includes premium ceded from the Specialty P&C Segment to the Lloyd's Syndicate Segment of $4.2 million for year ended December 31, 2014.