Palomar(NASDAQ) PLMR

Palomar Holdings, Inc. protects property from disasters. It covers risks like earthquakes, floods, and farming losses. These plans help families and businesses stay financially safe.

What Does Palomar Insure?

• Casualty: Protection against legal liabilities for businesses; includes coverage for environmental liability and the excess and surplus lines markets.
• Inland Marine and Property: Coverage for goods in transit and specialized property risks; includes tailored residential and commercial protection.
• Earthquake: Insurance for residential and commercial properties against seismic damage; serves customers in areas with high earthquake risk.
• Crop: Financial protection for farmers against farming losses; revenue recognition is primarily seasonal and peaks during the third quarter.
• Surety & Credit: Guarantees for contract performance and specialized financial products; includes real estate errors and omissions coverage.

Growing Beyond Earthquake Coverage

• Introduced new product categories including Crop, Surety, and environmental liability to diversify the business beyond earthquake insurance.
• Acquired Gray Surety to strengthen its presence in the surety and casualty markets.
• Established a new credit agreement in Jan. 2026 that provides up to $450 million in unsecured credit facilities.
• Expanded the distribution footprint through a network of retail agents, wholesale brokers, and program administrators.

High-Tech Risk Management

Palomar uses proprietary data analytics and a modern technology platform to price insurance risks with high precision. The strategy relies on a robust reinsurance program, including $1.2 billion in catastrophe bonds, to limit financial losses from major natural disasters.

Key Financial Facts

• Gross written premiums rose 27% to $630.5 million in the three months ended June 30, 2026.
• Net income reached $52.6 million in the quarter ended June 30, 2026, up 13% year over year.
• Adjusted net income was $63.8 million in the quarter ended June 30, 2026, up 31.4% year over year.
• Net investment income grew 49.2% to $20.0 million in the three months ended June 30, 2026.
• Total stockholders' equity reached $980.9 million as of June 30, 2026.

Evolution of the Business

Palomar has transitioned from a specialized earthquake insurer into a diversified provider of property and casualty solutions. The company's focus on data-driven underwriting and disciplined risk transfer supports its ability to navigate volatile insurance markets.