ALDOI to Hold Hearing on Planned ProAssurance Merger with FD Insurance

The Alabama Department of Insurance will hold a public hearing next week on the proposed merger of a ProAssurance unit and FD Insurance – the latest of many financial moves for both companies in the last decade.

ProAssurance Indemnity Co., part of the ProAssurance Group of specialty insurers, is headquartered in Birmingham, Alabama. The firm now plans to merge with FD Insurance Co. Both are domiciled in Alabama, ALDOI explained in its notice of the upcoming hearing.

The transaction is one of several for the companies and their parents in recent years: FD Insurance, once based in Florida, was acquired by NORCAL Mutual Insurance a decade ago, according to news reports and company news releases. ProAssurance Group in 2021 purchased NORCAL, including FD.

ProAssurance Corp., specializing in medial malpractice, professional liability and workers’ compensation coverage, itself was acquired by The Doctors Company in April of this year, with the deal expected to close by early 2026.

FD Insurance, once known as Florida Doctors Insurance, offers malpractice policies for doctors and practices. The firm was redomiciled in Alabama in 2024. A recent quarterly statement is here.

Company representatives could not be reached for comment Tuesday about the planned merger.

The ALDOI hearing is scheduled for Thursday, Oct. 16 at 10 a.m. at the ALDOI office in Montgomery. People hoping to participate via video conferencing should submit an email request to Shawn.Stewart@insurance.alabama.gov, before 3 p.m. on Oct. 13.

Topics Mergers & Acquisitions