ProAssurance vs Oaktree Specialty Lending

This page compares ProAssurance Corporation and Oaktree Specialty Lending Corporation, examining their business models, financial performance, and market context. Read with a neutral, accessible approach to understand how each company operates, how they generate revenue, and the environments in which they operate. Educational content, not financial advice.

This page compares ProAssurance Corporation and Oaktree Specialty Lending Corporation, examining their business models, financial performance, and market context. Read with a neutral, accessible appro...

About The Companies

ProAssurance (PRA)

ProAssurance Corporation (PRA) is a US-focused specialty insurer best known for medical professional liability coverage for physicians, surgeons, and healthcare institutions. With a market capitalisation near $1.24bn, the company’s performance reflects underwriting results, claims development and investment income from its float. Key issues for investors include claims frequency and severity, reserve adequacy, and sensitivity to legal and regulatory environments that affect malpractice payouts. Earnings can be cyclical: underwriting profitability may improve in benign claim years but can reverse if loss trends worsen. The balance sheet and capital position, including reinsurance programme strength, are central to assessing resilience. For long-term investors, consider how management steers underwriting discipline, reserves and expense control alongside investment returns. This summary is educational only and not financial advice; stock values can rise or fall and past performance is no guarantee of future results. Consult a qualified adviser for decisions tailored to your circumstances.

Oaktree Specialty Lending (OCSL)

Oaktree Specialty Lending Corporation (OCSL) is a closed‑end business development company (BDC) that provides debt capital to U.S. middle‑market companies. Sponsored and advised by Oaktree Capital’s credit platform, it typically invests in first‑lien, unitranche and senior secured loans that are largely floating‑rate, which can offer income that may rise with interest rates. Investors should note its market capitalisation is around US$1.22bn and that returns depend on credit performance, portfolio valuation and leverage. The BDC structure means OCSL aims to distribute most earnings as dividends, but coverage can vary and distributions are not guaranteed. Key considerations include credit risk, potential NAV volatility, leverage levels, fee arrangements and relative illiquidity compared with investment‑grade bonds. This summary is educational only — values can rise or fall, past performance is not a reliable guide and this is not personalised advice. Investors should review regulatory filings and consider suitability for their objectives and risk tolerance.

Comparison Snapshot

Key Financial Metrics

PRA

Metric

OCSL

$1.24B

Market Cap

$1.21B

3.05%

Potential Profit

0.81%

Hold

Analyst Rating

Hold

Which Baskets Do They Appear In?

Insurance Consolidation: The Next Takeover Targets

Sompo Holdings' $3.5 billion acquisition of Aspen Insurance highlights a major consolidation trend in the global specialty insurance market. This theme focuses on other specialty insurers and reinsurers that may become the next acquisition targets in a rapidly consolidating industry.

Published: August 28, 2025

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Property & Casualty Insurers Gain On European Strength

German insurer Allianz recently announced a significant increase in its second-quarter profits, surpassing expectations and signaling strength in the European insurance market. This suggests that other major European insurance companies with robust property and casualty operations could also be poised for growth.

Published: August 7, 2025

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Healthcare In The Crosshairs: Insurers Under Scrutiny

The Department of Justice is investigating UnitedHealth Group's Medicare billing, creating uncertainty for the nation's largest insurer. This situation presents a potential opportunity for rival health insurers to gain market share and for compliance-focused companies that help the industry navigate complex regulations.

Published: July 25, 2025

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Which Baskets Do They Appear In?

Insurance Consolidation: The Next Takeover Targets

Sompo Holdings' $3.5 billion acquisition of Aspen Insurance highlights a major consolidation trend in the global specialty insurance market. This theme focuses on other specialty insurers and reinsurers that may become the next acquisition targets in a rapidly consolidating industry.

Published: August 28, 2025

Explore Basket

Property & Casualty Insurers Gain On European Strength

German insurer Allianz recently announced a significant increase in its second-quarter profits, surpassing expectations and signaling strength in the European insurance market. This suggests that other major European insurance companies with robust property and casualty operations could also be poised for growth.

Published: August 7, 2025

Explore Basket

Healthcare In The Crosshairs: Insurers Under Scrutiny

The Department of Justice is investigating UnitedHealth Group's Medicare billing, creating uncertainty for the nation's largest insurer. This situation presents a potential opportunity for rival health insurers to gain market share and for compliance-focused companies that help the industry navigate complex regulations.

Published: July 25, 2025

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Property & Casualty Insurance Momentum Play

This carefully selected group of stocks captures the potential upside across the property and casualty insurance sector. Professional analysts have identified these companies following Travelers' impressive earnings report, suggesting similar strength may benefit other disciplined insurers with solid underwriting practices.

Published: July 20, 2025

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Investment Analysis

ProAssurance

PRA

Pros

ProAssurance has demonstrated strong profitability gains with an annual earnings growth rate of 37.3% over the past five years.
The company specializes in medical professional liability and workers’ compensation insurance, fields with stable demand and niche expertise.
ProAssurance is progressing towards a strategic merger with The Doctors Company, potentially expanding scale and market presence.

Considerations

The stock trades at a notably high price-to-earnings ratio of about 25x, well above industry averages, implying high performance expectations.
Recent quarterly results showed a significant 91.2% drop in net income year-over-year, with underwriting combined ratios deteriorating to above 114%.
Revenue and gross premiums written have declined in 2025, highlighting challenges in top-line growth and premium rate adjustments.

Oaktree Specialty Lending

OCSL

Pros

Oaktree Specialty Lending focuses on lending to small and mid-sized companies, a segment with diversified growth opportunities.
As a specialty finance company, it benefits from niche expertise in structuring credit solutions suited to less traditional borrowers.
Its business model provides income generation through lending operations, often attractive in low interest rate environments.

Considerations

The company is exposed to credit risk from small and mid-sized businesses, which can be more vulnerable to economic downturns.
As a specialty finance entity, Oaktree Specialty Lending may face regulatory and economic headwinds impacting lending volumes and asset quality.
Its share price and market activity show moderate volatility, potentially reflecting sensitivity to market and interest rate changes.

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About The Companies

Comparison Snapshot

Which Baskets Do They Appear In?

Insurance Consolidation: The Next Takeover Targets

Property & Casualty Insurers Gain On European Strength

Healthcare In The Crosshairs: Insurers Under Scrutiny

Which Baskets Do They Appear In?

Insurance Consolidation: The Next Takeover Targets

Property & Casualty Insurers Gain On European Strength

Healthcare In The Crosshairs: Insurers Under Scrutiny

Property & Casualty Insurance Momentum Play