EmPRO Defies Market Trends with Stellar 2025 Financial Performance

ROSLYN, N.Y. – April 13, 2026 – EmPRO Insurance Company, a specialized carrier for medical professional liability, has announced exceptionally strong financial results for the year ended December 31, 2025, marking its fourth consecutive year of significant growth and reinforcing its position as a bastion of stability in a turbulent market.

The company reported a series of impressive metrics that stand in stark contrast to the headwinds facing the broader medical liability sector. Its performance highlights a successful strategy of disciplined underwriting, operational investment, and deliberate regional expansion, offering a reassuring message to the physicians and healthcare facilities it insures.

A Beacon of Profitability in a Volatile Market

At the heart of EmPRO's 2025 success story is its significantly improved combined ratio, which fell to 77.4% from 86.9% in 2024. This metric, a core indicator of an insurer's profitability, shows that for every dollar of premium collected, the company spent just over 77 cents on claims and operating expenses. A ratio below 100% signifies an underwriting profit, and EmPRO's figure suggests a robust and highly efficient operation.

This achievement is particularly noteworthy given the challenging landscape of medical professional liability. The industry continues to grapple with the escalating frequency of so-called "nuclear" verdicts—jury awards surpassing $10 million. Research indicates that between 2013 and 2023, the number of such verdicts in medical malpractice cases rose by approximately 67%. In 2023 alone, the average award among the top 50 verdicts hit $48 million. These high-severity losses put immense pressure on insurers' profitability and capital reserves.

Against this backdrop, EmPRO’s ability to drive down its combined ratio points to the effectiveness of its risk management strategies and claims defense. This financial discipline directly benefits policyholders by fostering a more stable and predictable environment for insurance premiums, a critical concern for healthcare providers already facing economic pressures from rising labor costs and shifting reimbursement models.

"These results demonstrate the continued strength and resilience of EmPRO’s business,” said Bruce Shulan, Chairman and CEO of EmPRO, in the company's official announcement. “In 2025, we delivered exceptional financial performance while maintaining disciplined growth and strong retention."

Fortifying the Balance Sheet for Future Growth

Beyond underwriting profitability, EmPRO has substantially strengthened its financial foundation. The company’s admitted assets grew by 17% year-over-year to $668.5 million. Even more significantly, its policyholder surplus—a crucial cushion for absorbing unexpected losses and a key measure of an insurer's financial health—surged by an impressive 46.7% to reach $154.7 million.

A major contributor to this surplus growth was the full repayment of its surplus note in 2025. Surplus notes are a special type of debt instrument used by insurance companies to bolster their capital. While they contribute to statutory surplus, they remain a liability that requires future repayment. By fully retiring this note, EmPRO has deleveraged its balance sheet and demonstrated that its own organic earnings are more than sufficient to support its capital needs.

This strategic move enhances the company's financial flexibility, freeing up capital that can be deployed for future growth, investments in technology, and the enhancement of services for its insureds. For policyholders and regulators, the repayment is a powerful signal of prudent financial management and long-term viability, reinforcing the trust that medical professionals place in their insurer to be there when claims arise.

This financial fortification is a far cry from the company's position in its earlier years. Pre-2025 assessments from some ratings agencies had pointed to capitalization challenges, highlighting the significance of the turnaround EmPRO has engineered over the past four years. The company's current trajectory showcases a robust and resilient financial structure prepared for the future.

Strategic Expansion Cements Northeast Foothold

The company’s financial success is not just a story of internal discipline but also one of strategic growth. Gross written premium increased by a healthy 5% to $200 million in 2025, fueled by what the company describes as “sustained momentum as a Northeast regional medical professional liability insurance company.” This growth is supported by a strong policyholder retention rate of over 89%, underscoring the value and service clients receive.

Since its formation in 2020 from the business of Physicians' Reciprocal Insurers (PRI), EmPRO has embarked on a deliberate expansion beyond its New York roots. The company is now licensed to write business in New York, New Jersey, Pennsylvania, Connecticut, and Massachusetts, with a growing physical presence to support its regional strategy. In late 2023, it opened a new office in Hamilton Township, New Jersey, and followed that by establishing a Boston office in May 2025.

This geographic diversification spreads risk and opens up new markets, contributing to the steady growth in premium. The company's leadership has clearly stated its intention to continue serving the broker community and healthcare facilities in select markets across the Northeast, positioning EmPRO as an increasingly influential regional player against national competitors.

“Our operational strategy is centered on delivering consistency and superior service to our insured physicians and healthcare facilities,” noted Brian Nolan, President and Chief Operating Officer. He credited continued investments in people, processes, and infrastructure for strengthening the company's ability to support growth while improving underwriting and claims outcomes. “These efforts directly contributed to the improved combined ratio and overall financial results in 2025, which marks our fifth year in a row of strong performance.”

With its fortified balance sheet, proven underwriting discipline, and a clear regional growth strategy, EmPRO enters 2026 poised to build on its momentum as a stabilizing force for healthcare providers throughout the Northeast.