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 specialty property and casualty insurance holding company focused on five product categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. This news page aggregates company announcements, earnings updates, transaction disclosures, and other material developments related to PLMR.
Investors and analysts following Palomar can use this feed to review quarterly financial results, including net income, adjusted net income, loss ratios, combined ratios, and other key performance indicators that the company highlights in its earnings releases. Palomar regularly reports non-GAAP measures such as underwriting income, adjusted combined ratio, and annualized adjusted return on equity, and these are often discussed in detail in its quarterly press releases and accompanying conference calls.
The news stream also covers strategic initiatives, such as Palomar’s agreement to acquire The Gray Casualty & Surety Company, a Treasury-listed surety carrier specializing in contract bonds for midsized and emerging contractors across the United States. Updates on this transaction, including regulatory milestones or closing conditions, are typically communicated through press releases and Form 8-K filings. In addition, readers will find information on partnerships like Palomar’s arrangement with Neptune Flood, under which Neptune becomes Palomar’s exclusive managing general agent for flood insurance.
Other recurring items in Palomar’s news include reinsurance program placements, such as the company’s June 1 excess of loss renewals, catastrophe bond issuances under the Torrey Pines Re program, and changes to earthquake and hurricane reinsurance limits and retentions. The company also issues notices about participation in investor conferences, share repurchase authorizations, and updates to full-year adjusted net income guidance.
For anyone tracking PLMR stock, this page offers a centralized view of Palomar’s operational, financial, and strategic communications. Reviewing these items together can help contextualize movements in underwriting performance, capital management decisions, and the evolution of Palomar’s specialty insurance portfolio over time.
Palomar Holdings has launched PLMR-FRONT, its new fronting business, targeting opportunities in the challenging insurance market. The initiative allows Palomar to partner with reinsurers and carriers to create customized insurance programs across various sectors such as cyber, non-standard auto, and workers’ compensation. This strategic move aims to generate new income streams and improve risk-adjusted returns for shareholders, leveraging Palomar's existing infrastructure. CEO Mac Armstrong emphasized the potential for profitable growth through sound underwriting practices.
Palomar Holdings, Inc. (NASDAQ: PLMR) announced the addition of three key executives to enhance its underwriting and reinsurance capabilities. Ty Robben joins as Senior Vice President, Casualty Underwriting, bringing 14 years of market experience from Great American. Gerrit VandeKemp becomes Vice President, Casualty Underwriting to strengthen the Professional Lines practice, previously serving at CRC Group. Chris Cebula is appointed Senior Vice President, Reinsurance, focusing on the firm’s risk transfer strategy, after a successful tenure at Elementum Advisors. These hires aim to bolster Palomar's growth and market diversification.
Palomar Holdings (NASDAQ: PLMR) announced participation in the Barclays Global Financial Services Conference on September 13, 2021, featuring CEO Mac Armstrong and CFO Chris Uchida. The event will be accessible via a live webcast on Palomar's investor relations website. Following the presentation, a replay will be available online. Palomar specializes in providing niche insurance solutions, focusing on underinsured markets such as earthquake, hurricane, and flood insurance, boasting an 'A-' rating from A.M. Best for its main operating subsidiary.
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.