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 (NASDAQ:PLMR) has announced a definitive agreement to acquire Advanced AgProtection (AAP), a Texas-based specialized Crop Managing General Agent. This acquisition follows Palomar's strategic investment in AAP made in 2023 at the launch of their partnership.
The deal, expected to close during the second quarter of 2025, represents a natural progression for Palomar's Crop franchise. AAP's platform will provide infrastructure for continued growth as Palomar aims to establish itself as a preferred leader in the Crop marketplace.
The AAP team consists of industry veterans with established relationships and proven experience in the Crop insurance sector. Jon Christianson, President of Palomar, expressed enthusiasm about the opportunities this combination brings and welcomed the AAP team to Palomar.
Palomar Holdings (NASDAQ:PLMR) has announced its upcoming Investor Day scheduled for Thursday, March 20, 2025, at The Pierre in New York City. The event will run from 8:30 a.m. ET to approximately 12:45 p.m. ET.
The presentation will be led by Chairman and CEO Mac Armstrong, accompanied by the senior leadership team. They will deliver a comprehensive overview of the business, with particular focus on:
- Specialty products
- Operations
- Palomar 2X philosophy
Investors can access the presentation via webcast through the Events and Presentations section on Palomar's Investor Relations website at ir.palomarspecialty.com. A replay will be available at approximately 6pm ET on the same platform.
Palomar Holdings (NASDAQ:PLMR) reported strong financial results for Q4 and full year 2024. In Q4, net income increased 35.0% to $35.0 million ($1.29 per diluted share) compared to Q4 2023. Gross written premiums grew 23.3% to $373.7 million.
For full year 2024, the company achieved significant growth with gross written premiums increasing 35.1% to $1.5 billion and net income rising 48.4% to $117.6 million. The company maintained solid underwriting performance with a combined ratio of 78.1% despite higher losses.
Key Q4 metrics include a total loss ratio of 25.7%, combined ratio of 75.9%, and annualized return on equity of 19.5%. The company provided 2025 guidance projecting adjusted net income between $180-192 million, including estimated catastrophe losses of $8-12 million.
Palomar Holdings (NASDAQ: PLMR) has scheduled its fourth quarter and full year 2024 financial results announcement for February 12, 2025, after market close. The company will host a conference call on February 13, 2025, at 12:00 p.m. Eastern Time to discuss the results.
Investors can access the call by dialing 1-877-423-9813 (US) or 1-201-689-8573 (International). A replay will be available from 4:00 p.m. ET on February 13 until February 20, 2025, accessible via 1-844-512-2921 (US) or 1-412-317-6671 (International) with passcode 13751157. A simultaneous webcast will be available on the company's investor relations website.
Palomar is a specialty insurer with an A.M. Best 'A' (Excellent) rating, operating through multiple subsidiaries and serving residential and commercial clients across five categories: Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop.
Palomar Holdings (NASDAQ: PLMR) has completed the acquisition of First Indemnity of America Insurance Company (FIA), effective January 1, 2025. The acquisition marks Palomar's strategic entry into the Surety market, a highly profitable business line with strong growth potential. FIA brings experienced management and a track record of outperforming the broader surety market in loss ratios over the past five years.
According to Mac Armstrong, Palomar's Chairman and CEO, this strategic move aims to diversify the company's specialty insurance portfolio while adding a high-margin product. The acquisition is expected to strengthen Palomar's ability to generate consistent, profitable growth and enhance long-term shareholder value through FIA's industry expertise and innovation in the specialty insurance sector.
Palomar Holdings (NASDAQ: PLMR) has appointed Benson Latham as Executive Vice President, Head of Crop. Latham brings 30 years of crop insurance industry experience, having previously worked at Great American Insurance Company. His career highlights include building ProAg into a $500M revenue operation, founding and selling Longhorn Re, and growing Validus's Crop division to over $1B in revenue. Palomar has already written more than $100M of Crop premium in its first full year and aims to become a leader in the $19B Crop insurance market.
Palomar Holdings (NASDAQ:PLMR) reported strong Q3 2024 results with net income of $30.5 million ($1.15 per diluted share), up from $18.4 million in Q3 2023. Gross written premiums increased 32.2% to $415.0 million, while adjusted net income grew 39.3% to $32.4 million. The company achieved a combined ratio of 80.5% and an annualized return on equity of 19.7%. Despite heightened catastrophe activity, Palomar maintained strong performance with a 77.1% adjusted combined ratio. The company successfully raised $116 million in August to fund expansion into the surety market and support organic growth initiatives.
Palomar Holdings (NASDAQ: PLMR) has announced its schedule for third quarter 2024 financial results release and conference call. The company will release results after market close on November 4, 2024, followed by a conference call on November 5, 2024 at 12:00 p.m. Eastern Time. Investors can access the call by dialing 1-877-423-9813 (US) or 1-201-689-8573 (international). A replay will be available until November 12, 2024, accessible via 1-844-512-2921 (US) or 1-412-317-6671 (international) with passcode 13748953. A simultaneous webcast will be available on the company's investor relations website.
The Mechanic Group, a division of Specialty Program Group (SPG), has announced a partnership with Palomar Excess and Surplus Insurance Company (PESIC), a subsidiary of Palomar Holdings, Inc., to enhance its "Best In Class" Security Alarm & Investigator Program. PESIC, rated "A" (Excellent) by AM Best, will strengthen The Mechanic Group's ability to provide tailored General Liability and Umbrella Coverage for the Security & Alarm industry.
Key benefits of the partnership include:
- Advanced underwriting authority for swift policy issuance
- Expert claims management
- Comprehensive coverage highlights tailored for the Security and Alarm industry
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.
