BIRMINGHAM, Ala., April 2, 2013 /PRNewswire/ -- ProAssurance Corporation (NYSE: PRA) announced today that Vice-Chairman Victor T. Adamo has informed the Board of Directors of ProAssurance that he will not stand for reelection to the Board due to his planned retirement in the second quarter of this year. As a result, Mr. Adamo will no longer serve as an executive officer of the company upon completion of his current Board term on May 22, 2013.
Mr. Adamo has served ProAssurance and its predecessor companies for 28 years in a variety of executive leadership roles and was instrumental in the 2001 merger of Medical Assurance, Inc., and Professionals Group, Inc., which formed ProAssurance.
"Vic has provided ProAssurance with extraordinary leadership and inspiration in the 12 years since our merger," said W. Stancil Starnes, the Chairman and CEO of ProAssurance. Starnes went on to say, "The founding vision for ProAssurance was the creation of an insurer with a broad national scope that retained a strong focus on locally delivered customer services, all backed by superior financial strength. Vic has worked tirelessly to help us maintain these founding goals while expanding the footprint of ProAssurance and achieving a position of leadership in our industry. We are deeply grateful to him."Mr. Adamo, reflecting on his years with ProAssurance, and with Professionals Group before that, said, "I am very proud of assisting the organization to grow and assume a position of industry leadership while maintaining our commitment to customer service, employee development, and return for our shareholders. As I look back on my career, my fondest memories are the personal connections I have been privileged to make with my fellow employees, insureds, board members, and the many people outside of ProAssurance with whom I have been able to work. I appreciate the opportunity that ProAssurance has provided for me to have a very fulfilling career."