Recently announced, ProAssurance Corporation completed its acquisition of American Physicians Service Group, Inc. The American Physicians Service Group shareholders had a special meeting on November 29, 2010 where they unanimously approved the transaction.

The Chairman and Chief Executive Office of ProAssurance, W. Stancil Starnes, said that they are excited about the opportunities that the acquisition will create. With this acquisition, ProAssurance will become the second largest writer of medical professional liability insurance in Texas and will have a significant market presence. The ProAssuarnce Corporation expects to use the skill and dedication of the American Physicians Service Group’s employees to offer an unmatched level of service and an exceptional financial strength to policy holders.

With the terms of the merger, each share of the American Physicians Service Group stock will be redeemed for $32.50. Those shareholders who have stock that is held by a broker or in direct registration will automatically be paid. Those shareholders who have stock certificates will automatically receive instructions via mail on how to surrender their shares to receive payment. American Physicians Service Group’s stock will cease to trade on the Nasdaq Stock Market on December 1, 2010.

The nation’s largest independently traded specialty write of medical professional liability insurance, ProAssurance, is recognized as one of the top performing insurance companies in America. It has been included in the Ward’s 50 for the past four years and is rated “A” by Fitch Ratings and rated “A” by A.M. Best.