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 reported a net income of $12.3 million ($0.47 per share) for Q2 2021, up from $12 million ($0.48 per share) in Q2 2020. Gross written premiums rose by 54.4% to $129.4 million. However, the total loss ratio increased to 13.3% from 10.1% year-over-year. For the first half of 2021, net income reached $29 million ($1.11 per share), up from $23.8 million ($0.95 per share) in 2020. Despite strong growth, the annualized return on equity decreased to 13.1% from 15.1% in the previous year. The company expects adjusted net income between $64 million and $69 million for the full year.
Palomar Holdings, Inc. (NASDAQ: PLMR) will release its second quarter 2021 results on August 4, 2021, post-market. A conference call is scheduled for August 5, 2021, at 12:00 p.m. ET, accessible by phone or via a webcast on their investor relations website. Palomar specializes in providing innovative specialty insurance for residential and commercial clients, focusing on markets like earthquake and flood insurance. The company is rated 'A-' (Excellent) by A.M. Best and operates in 32 states.
Palomar Holdings (NASDAQ: PLMR) appointed Daina Middleton to its Board of Directors on July 22, 2021. Middleton, CEO of Britelite Immersive, has extensive experience in operational leadership, marketing, and technology. She previously served as CEO of Ansira and held senior roles at Twitter and Hewlett-Packard, where she drove a 40% revenue growth. Palomar’s Chairman expressed confidence in Middleton’s ability to add value as the company aims to differentiate in the specialty insurance market, particularly for underserved risks like earthquakes and floods.
Palomar Holdings, Inc. (NASDAQ: PLMR) announced its upcoming participation in virtual investor conferences. Key events include the 2021 Truist Financial Services Conference on May 25-26, and the William Blair Annual Growth Stock Conference from June 1-3. CEO Mac Armstrong and CFO Chris Uchida will hold a fireside chat on June 1 at 1:40 pm ET, accessible via the company’s website. Palomar specializes in niche insurance markets such as earthquake, hurricane, and flood coverage, with a strong financial rating of 'A-' from A.M. Best.
Palomar Holdings, Inc. (NASDAQ: PLMR) announced the completion of its reinsurance programs effective June 1, 2021, securing approximately $180 million for earthquakes and $100 million for windstorms. Total reinsurance coverage now reaches $1.65 billion for earthquakes and $700 million for hurricanes. The company raised its catastrophe retention from $10 million to $12.5 million. Key highlights include a $400 million ILS issuance through Torrey Pines Re and the addition of six new reinsurers, bringing its panel to 82. The initiative aims to ensure consistent earnings and support the company's growth strategies.
Palomar Holdings (PLMR) reported a strong first quarter of 2021, with net income increasing by 41.2% to $16.6 million, or $0.63 per diluted share, compared to $11.8 million in Q1 2020. Adjusted net income rose 56.5% to $19.3 million, reflecting a 44.9% growth in gross written premiums, totaling $103.6 million. The combined ratio improved to 60.4% from 63.6% year-over-year, while the total loss ratio was negative 9.4%. Palomar's annualized return on equity was 18.0%. The company anticipates adjusted net income for 2021 between $64 million and $69 million.
Palomar Holdings, Inc. (NASDAQ: PLMR) will release its first quarter 2021 results on May 5, 2021, after market close. A conference call will follow on May 6, 2021, at 12:00 p.m. (Eastern Time). Investors can join by calling 1-877-423-9813 or via webcast on the Company’s investor relations website. A replay will be available starting at 3:00 p.m. the same day until May 13, 2021. Palomar provides specialty insurance for residential and commercial clients, focusing on underserved markets like earthquake and flood insurance.
Palomar Holdings has successfully closed a $400 million catastrophe bond through its subsidiaries, enhancing its reinsurance capacity against earthquake events. The bond, issued by Torrey Pines Re Pte. Ltd., consists of two tranches of $200 million each, covering a three-year risk period. This upsized offering reflects strong investor confidence in Palomar's underwriting capabilities and its commitment to providing innovative earthquake insurance solutions. The transaction solidifies Palomar's leadership in the earthquake insurance market and supports its robust reinsurance strategy.
Palomar Holdings (NASDAQ:PLMR) announced a share repurchase program, allowing for up to $40 million in stock buybacks by March 31, 2023. This program aims to enhance shareholder value by opportunistically purchasing shares believed to be undervalued. CEO Mac Armstrong affirmed that the initiative will not hinder the company's growth trajectory, with a premium growth rate for 2021 expected to match that of 2020. The timing of stock repurchases will depend on market conditions and other factors.
Palomar Holdings, Inc. (NASDAQ: PLMR) reported a net loss of $1.8 million for Q4 2020, compared to a net income of $10.9 million in Q4 2019. Gross written premiums rose 31.0% to $96.1 million. The total loss ratio surged to 44.2% from 7.1%, and the combined ratio increased to 112.8% from 63.1%. Full-year gross written premiums increased 40.6% to $354.4 million, with net income at $6.3 million. The company anticipates adjusted net income of $62 million to $67 million for 2021, despite challenges from Winter Storm Uri.
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