Palomar Holdings, Inc. Announces Strategic Hire to Further Expand its Casualty Franchise
Rhea-AI Summary
Palomar Holdings, Inc. (NASDAQ: PLMR) has appointed David Sapia as Executive Vice President, Head of E&S Casualty, effective September 9, 2024. With over 30 years of experience in casualty underwriting and field management, Sapia will lead the development of an E&S casualty division and support existing casualty operations. His expertise is expected to drive the expansion of Palomar's casualty franchise and identify opportunities for profitable growth.
Prior to joining Palomar, Sapia held key positions at HDI Global USA, Axis US Insurance, and Guy Carpenter. He brings a strong background in liability underwriting, portfolio management, and reinsurance. Palomar's CEO, Mac Armstrong, expressed enthusiasm about Sapia's addition to the team, highlighting his strategic vision and industry knowledge as assets for the company's growth initiatives.
Positive
- Appointment of David Sapia as EVP, Head of E&S Casualty, bringing 30+ years of industry experience
- Expansion into E&S casualty division, potentially opening new revenue streams
- Strategic hire aimed at bolstering existing casualty operations and identifying growth opportunities
Negative
- None.
News Market Reaction – PLMR
On the day this news was published, PLMR declined 2.95%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
LA JOLLA, Calif., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ: PLMR) (the “Company”) today announced that David Sapia has been appointed Executive Vice President, Head of E&S Casualty, effective September 9, 2024.
David Sapia offers over 30 years of extensive expertise in casualty underwriting and field management, with a specialized focus on the E&S market. His experience in reinsurance and strategic casualty leadership equips him with a unique skill set to drive the expansion of the Company’s casualty franchise. Mr. Sapia will spearhead the development of an E&S casualty division, support the existing casualty operations, and identify additional opportunities for profitable growth in the casualty sector.
“We are thrilled to welcome David to Palomar as the new head of our E&S casualty business,” said Mac Armstrong, Palomar’s Chairman and Chief Executive Officer. “David’s impressive track record in casualty underwriting and his deep industry knowledge will be instrumental in advancing our casualty franchise. His strategic vision will not only bolster our current operations but also fuel our growth initiatives.”
Prior to joining Palomar, Mr. Sapia was the Director of Liability Underwriting for HDI Global USA where he was responsible for the strategy, execution, and portfolio steering for the company’s US casualty business. Prior to HDI Global USA, Mr. Sapia served as Vice President of Underwriting at Axis US Insurance for ten years where he was an excess casualty underwriter in Axis’ West Region focusing on the E&S market. Prior to Axis, Mr. Sapia served as Managing Director at Guy Carpenter, where he managed a team that served the reinsurance needs of ceding clients located throughout the United States and Bermuda. Mr. Sapia was a Sergeant in the United States Marine Corps and received his MBA and BS in Business Administration from the University of Denver.
About Palomar Holdings, Inc.
Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd., Palomar Insurance Agency, Inc., Palomar Excess and Surplus Insurance Company (“PESIC”), and Palomar Underwriters Exchange Organization, Inc. Palomar's consolidated results also include Laulima Exchange, a variable interest entity for which the Company is the primary beneficiary. Palomar is an innovative specialty insurer serving residential and commercial clients in five product categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop. Palomar’s insurance subsidiaries, Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., and Palomar Excess and Surplus Insurance Company, have a financial strength rating of “A” (Excellent) from A.M. Best.
To learn more, visit PLMR.com
Follow Palomar on LinkedIn: @PLMRInsurance
Contact
Media Inquiries
Lindsay Conner
1-551-206-6217
lconner@plmr.com
Investor Relations
Jamie Lillis
1-203-428-3223
investors@plmr.com
Source: Palomar Holdings, Inc.
FAQ
Who is David Sapia and what is his new role at Palomar Holdings (PLMR)?
What are David Sapia's main responsibilities in his new role at Palomar Holdings (PLMR)?
How might David Sapia's appointment impact Palomar Holdings' (PLMR) business strategy?
What was David Sapia's professional background before joining Palomar Holdings (PLMR)?
