September 11, 2009 (FinancialWire) — ProAssurance Corp.’s (NYSE: PRA) board has authorized $100 million to repurchase the company’s shares or retire outstanding debt.

In addition to this new authorization, the company has $31.3 million remaining from previous authorizations. Since April 2007 ProAssurance has purchased 3.6 million shares at a cost of $177.8 million.

The company has also used $40.9 million to retire debt.

Birmingham, Alabama-based ProAssurance is a writer of medical professional liability insurance.

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