Palomar Holdings Stock Price, News & Analysis

Palomar Holdings, Inc. (NASDAQ: PLMR) will release its Q2 2022 results on August 3, 2022, after market close. A conference call to discuss these results will take place on August 4, 2022, at 12:00 p.m. ET. Investors can access the call by dialing 1-877-423-9813 (or 1-201-689-8573 for international callers). A replay will be available starting at 3:00 p.m. ET on August 4, 2022. The company's insurance subsidiaries hold a financial strength rating of “A-” (Excellent) from A.M. Best, focusing on specialty insurance for underserved markets.

Palomar Holdings, Inc. (NASDAQ: PLMR) will participate in the William Blair Growth Stock Conference on June 8, 2022, featuring CEO Mac Armstrong and CFO Chris Uchida. They will hold one-on-one investor meetings and a presentation at 2:00 PM Central Time. Investors can access the live webcast through Palomar's Investor Relations website, where a replay will also be available. Palomar specializes in providing innovative specialty insurance products, focusing on underserved markets like earthquake and flood insurance, with a strong financial rating of 'A-' from A.M. Best.

Palomar Holdings (NASDAQ: PLMR) announced the successful completion of several reinsurance programs effective June 1, 2022. The company secured $430 million in earthquake coverage and $200 million for windstorms, raising total limits to $2.08 billion for earthquakes and $900 million for hurricanes. With a retention of $12.5 million per event, the program included a $275 million collateralized capacity through a catastrophe bond, increasing its capacity to $675 million. This consolidates Palomar's growth efforts while ensuring robust risk management.

Palomar Holdings, Inc. (NASDAQ:PLMR) announced an Investor Day scheduled for June 15, 2022, in New York City. The event will run from 8:00 a.m. to 12:00 p.m. ET, featuring CEO Mac Armstrong and senior management discussing the company's strategic growth plan. Interested parties can access the presentation via webcast on Palomar's Investor Relations website, with a replay available afterward. Palomar specializes in providing innovative insurance solutions, focusing on underserved markets such as earthquake and flood insurance. Its subsidiaries hold an 'A-' rating from A.M. Best.

Palomar Holdings, Inc. (NASDAQ:PLMR) announced its Q1 2022 results, reporting net income of $14.5 million, down from $16.6 million in Q1 2021. Adjusted net income also decreased to $17.6 million, compared to $19.3 million in the previous year. The company experienced a significant 65% increase in gross written premiums, totaling $170.9 million. However, the total loss ratio rose to 19.7% from a negative 9.4% year-over-year. Despite challenges, the company remains optimistic about its strategic priorities for 2022, including strong premium growth and consistent earnings.

Palomar Holdings, Inc. (NASDAQ: PLMR) will report its first quarter 2022 results on May 4, 2022, after market close. A conference call is scheduled for May 5 at 12:00 p.m. Eastern Time, accessible via phone or webcast. The replay will be available after the call until May 12. Palomar specializes in specialty insurance for risks like earthquakes and floods, and its subsidiaries hold an 'A-' rating from A.M. Best.

Palomar Holdings (NASDAQ:PLMR) has renewed its $25 million Aggregate Cover for excess of loss reinsurance, starting April 1, 2022. The coverage has a $30 million attachment point and protects against various catastrophic events, including earthquakes and hurricanes, with a qualifying loss threshold of $2 million. CEO Mac Armstrong stated this reinsurance placement enhances the company's financial stability and establishes a 14% floor on the adjusted return on equity for 2022, based on an anticipated adjusted net income of $80-$85 million.

Palomar reported a strong financial performance for Q4 2021, with net income of $16.6 million or $0.64 per diluted share, a significant recovery from a net loss of $1.8 million in Q4 2020. Gross written premiums surged by 56.0% to $149.9 million, while the total loss ratio dropped to 15.0% from 44.2% year-over-year. For the full year 2021, net income reached $45.8 million, up from $6.3 million in 2020. The company's initiatives to enhance underwriting and exit unprofitable segments yielded positive results.