Welcome to our dedicated page for Palomar Holdings news (Ticker: PLMR), a resource for investors and traders seeking the latest updates and insights on Palomar Holdings stock.
Palomar Holdings Inc. (NASDAQ: PLMR) is a leading specialty insurer focused on property and casualty coverage, particularly in catastrophe-prone markets. This page serves as the definitive source for official company announcements, financial disclosures, and strategic developments.
Investors and industry professionals will find curated updates on earnings reports, product innovations, and strategic partnerships that shape PLMR's position in specialty insurance. The repository includes filings related to earthquake coverage, inland marine policies, and crop insurance programs – core components of Palomar's risk management expertise.
Content highlights include quarterly financial results, leadership updates, underwriting strategy changes, and market expansion announcements. All materials are sourced directly from corporate communications to ensure reliability for investment research and risk analysis.
Bookmark this page for real-time access to Palomar Holdings' regulatory filings, investor presentations, and operational updates. Regularly updated content supports informed decision-making about this catastrophe insurance specialist.
Palomar Holdings, Inc. (NASDAQ:PLMR) announced a $25 million aggregate excess of loss reinsurance limit effective April 1, 2021, with an attachment point of $30 million. This coverage includes various perils such as earthquakes and hurricanes. The company estimates pretax catastrophe losses of $15-$16.5 million for Q4 2020, primarily from Hurricanes Delta and Zeta, with total net losses expected between $14-$15 million. A $4.1 million expense related to prior reinsurance coverage was also reported. Final loss estimates will be updated in their Q4 and full-year 2020 results.
Palomar Holdings, Inc. (NASDAQ:PLMR) has appointed Mark Brose as Chief Technology Officer. Reporting to COO Britt Morries, Brose brings over 25 years of experience in software engineering and technical operations. CEO Mac Armstrong emphasized the importance of strengthening the leadership team amid the company's growth. Brose's prior role was Vice President of Engineering at Agosto Inc., and he previously served as CTO at Gravie. Palomar specializes in providing specialty property insurance, including earthquake and flood coverage, with an A.M. Best rating of 'A-' (Excellent).
Palomar Holdings, Inc. (NASDAQ:PLMR) has appointed Angela Grant as its new Chief Legal Officer. With over 30 years in the insurance industry, Grant will oversee legal, regulatory, and compliance matters. Her previous roles include Chief Legal & Innovation Officer at CSE Insurance Group and Head of Compliance & Legal at Hippo Insurance. Grant's extensive background in mergers, acquisitions, and corporate governance is expected to enhance Palomar's strategic mission and drive profitable growth.
Palomar Holdings, Inc. (NASDAQ:PLMR) announced an agreement to acquire renewal rights for GeoVera's Hawaii residential hurricane policies. This strategic move enhances Palomar's footprint in Hawaii, where it has operated since 2015. The acquisition targets policyholders from GeoVera Insurance Company and Coastal Select Insurance Company, both exiting the Hawaii market. Palomar aims to offer flexible and affordable hurricane coverage, reinforcing its commitment to Hawaii homeowners. Mac Armstrong, Palomar's CEO, emphasized the company's dedication to the local community.
Palomar Holdings reported a net loss of $15.7 million for Q3 2020, down from a net income of $7.5 million in Q3 2019. Gross written premiums rose 55.4% to $103 million. The total loss ratio soared to 97.7% compared to 8.8% for the same quarter last year, with a catastrophe loss ratio of 86.9%. The combined ratio also increased to 157.1% from 73.4%. However, adjusted net income excluding catastrophe losses improved to $13.7 million. The company launched a new surplus lines subsidiary and aims to expand in a hardening rate environment.
Palomar Holdings, Inc. (NASDAQ: PLMR) will announce its Q3 2020 earnings on November 10, 2020, after market close. A conference call is scheduled for November 11, 2020, at 12:00 p.m. ET, accessible via phone or through a webcast. Palomar specializes in providing innovative specialty property insurance, focusing on markets like earthquake, wind, and flood insurance. The company is known for its strong analytical capabilities and operates in 31 states with an A.M. Best rating of 'A-' (Excellent).
Palomar Holdings (NASDAQ:PLMR) announced estimated pre-tax catastrophe losses of $34 million to $38 million for Q3 2020, attributed to Hurricanes Hanna, Isaias, Laura, and Sally. These estimates remain preliminary and may change as financial reviews are ongoing. The company focuses on specialty property insurance markets, including earthquake, wind, and flood insurance. Palomar's subsidiaries hold an A- (Excellent) financial strength rating from A.M. Best.
Palomar Holdings (NASDAQ: PLMR) will participate in a fireside chat at the KBW Insurance Conference on September 10, 2020, at 3:30 p.m. Eastern Time. CEO Mac Armstrong and CFO Chris Uchida will represent the company. Investors can access the live webcast through the Investors section of Palomar's website, with a replay available afterward. Palomar specializes in providing innovative property insurance solutions, particularly in underserved markets like earthquake and flood insurance, and holds an 'A-' (Excellent) financial strength rating from A.M. Best.
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