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Palomar Holdings, Inc. - PLMR STOCK NEWS

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 U.S.-based specialty property insurance company, focused primarily on providing solutions for catastrophe risks. Headquartered in La Jolla, California, Palomar offers a wide range of insurance products designed to safeguard against natural disasters such as earthquakes, hurricanes, and floods. These products are tailored to both residential and commercial markets and distributed through multiple channels, including retail agents, program administrators, wholesale brokers, and partnerships with other insurance companies.

Established with a mission to deliver stable and reliable insurance options, Palomar leverages its expertise, experience, and financial strength to focus on the specialized needs of regions prone to significant natural hazards. Key markets include earthquake-exposed states like California, Oregon, and Washington, as well as areas susceptible to wind and flood damage.

Palomar's product portfolio encompasses Residential Earthquake, Commercial Earthquake, Specialty Homeowners, Inland Marine, Commercial All Risk, Hawaii Hurricane, Residential Flood, and other niche insurance products. Through its strategic plan, Palomar 2X, the company focuses on achieving consistent profitable growth and diversifying its offerings to reduce volatility.

Recent achievements include record quarterly gross written premiums and an adjusted net income growth of 153%, with an adjusted return on equity of 22.3%. This remarkable performance underscores Palomar's commitment to integrating disciplined growth strategies and minimizing catastrophe-related losses. Furthermore, Palomar has expanded its portfolio by introducing new lines of business such as Crop, Environmental Liability, and Assumed Reinsurance, significantly broadening its market reach and risk-adjusted returns.

Palomar's financial resilience is evident in its robust capital management and strategic investments aimed at enhancing operational capabilities and market presence. The company's dedication to innovation and excellence positions it as a leader in the specialty property insurance sector, catering to the evolving needs of its clients with reliability and precision.

For the latest updates and detailed information on Palomar Holdings, Inc., please refer to their official communications or visit their website.

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Palomar Holdings, Inc. (NASDAQ: PLMR) will participate in a fireside chat at the KBW Insurance Conference on September 8, 2022, at 8:20 a.m. ET. The discussion will feature CEO Mac Armstrong and CFO Chris Uchida, focusing on the company's specialty insurance offerings. Investors can access the live webcast through Palomar's Investor Relations website, with an online replay available post-event. Palomar specializes in insurance against risks like earthquakes and floods, backed by an 'A-' (Excellent) rating from A.M. Best.

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Palomar Holdings reported strong second quarter results for 2022, with net income of $14.6 million ($0.57 per diluted share), up from $12.3 million ($0.47 per share) in Q2 2021. Adjusted net income rose to $18.7 million ($0.73 per share) from $13.2 million ($0.51 per share). Gross written premiums surged by 69.1% to $218.7 million. Key metrics include a total loss ratio of 17.9% and an annualized return on equity of 15.4%. The company maintains a full-year outlook for adjusted net income between $80 million and $85 million, despite recording $4.6 million in unrealized equity losses.

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Palomar Holdings (NASDAQ:PLMR) announced a new two-year partnership with Omaha National Group, enhancing its PLMR-FRONT initiative. This collaboration enables Palomar to act as the insurer through its subsidiary, Palomar Specialty Insurance Company, for Omaha National's workers’ compensation products in California. By expanding its program partners, Palomar positions itself to meet its target for gross written premiums in 2022. The partnership emphasizes strategic growth and operational excellence in the competitive insurance landscape.

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Palomar Holdings, Inc. (NASDAQ: PLMR) will release its Q2 2022 results on August 3, 2022, after market close. A conference call to discuss these results will take place on August 4, 2022, at 12:00 p.m. ET. Investors can access the call by dialing 1-877-423-9813 (or 1-201-689-8573 for international callers). A replay will be available starting at 3:00 p.m. ET on August 4, 2022. The company's insurance subsidiaries hold a financial strength rating of “A-” (Excellent) from A.M. Best, focusing on specialty insurance for underserved markets.

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Palomar Holdings, Inc. (NASDAQ: PLMR) will participate in the William Blair Growth Stock Conference on June 8, 2022, featuring CEO Mac Armstrong and CFO Chris Uchida. They will hold one-on-one investor meetings and a presentation at 2:00 PM Central Time. Investors can access the live webcast through Palomar's Investor Relations website, where a replay will also be available. Palomar specializes in providing innovative specialty insurance products, focusing on underserved markets like earthquake and flood insurance, with a strong financial rating of 'A-' from A.M. Best.

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Palomar Holdings (NASDAQ: PLMR) announced the successful completion of several reinsurance programs effective June 1, 2022. The company secured $430 million in earthquake coverage and $200 million for windstorms, raising total limits to $2.08 billion for earthquakes and $900 million for hurricanes. With a retention of $12.5 million per event, the program included a $275 million collateralized capacity through a catastrophe bond, increasing its capacity to $675 million. This consolidates Palomar's growth efforts while ensuring robust risk management.

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Palomar Holdings, Inc. (NASDAQ:PLMR) announced an Investor Day scheduled for June 15, 2022, in New York City. The event will run from 8:00 a.m. to 12:00 p.m. ET, featuring CEO Mac Armstrong and senior management discussing the company's strategic growth plan. Interested parties can access the presentation via webcast on Palomar's Investor Relations website, with a replay available afterward. Palomar specializes in providing innovative insurance solutions, focusing on underserved markets such as earthquake and flood insurance. Its subsidiaries hold an 'A-' rating from A.M. Best.

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Palomar Holdings, Inc. (NASDAQ:PLMR) announced its Q1 2022 results, reporting net income of $14.5 million, down from $16.6 million in Q1 2021. Adjusted net income also decreased to $17.6 million, compared to $19.3 million in the previous year. The company experienced a significant 65% increase in gross written premiums, totaling $170.9 million. However, the total loss ratio rose to 19.7% from a negative 9.4% year-over-year. Despite challenges, the company remains optimistic about its strategic priorities for 2022, including strong premium growth and consistent earnings.

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Palomar Holdings, Inc. (NASDAQ: PLMR) will report its first quarter 2022 results on May 4, 2022, after market close. A conference call is scheduled for May 5 at 12:00 p.m. Eastern Time, accessible via phone or webcast. The replay will be available after the call until May 12. Palomar specializes in specialty insurance for risks like earthquakes and floods, and its subsidiaries hold an 'A-' rating from A.M. Best.

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Palomar Holdings (NASDAQ:PLMR) has renewed its $25 million Aggregate Cover for excess of loss reinsurance, starting April 1, 2022. The coverage has a $30 million attachment point and protects against various catastrophic events, including earthquakes and hurricanes, with a qualifying loss threshold of $2 million. CEO Mac Armstrong stated this reinsurance placement enhances the company's financial stability and establishes a 14% floor on the adjusted return on equity for 2022, based on an anticipated adjusted net income of $80-$85 million.

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FAQ

What is the current stock price of Palomar Holdings (PLMR)?

The current stock price of Palomar Holdings (PLMR) is $105.47 as of January 7, 2025.

What is the market cap of Palomar Holdings (PLMR)?

The market cap of Palomar Holdings (PLMR) is approximately 2.8B.

What does Palomar Holdings, Inc. specialize in?

Palomar Holdings, Inc. specializes in providing specialty property insurance for catastrophe risks such as earthquakes, hurricanes, and floods.

Where is Palomar Holdings, Inc. based?

Palomar Holdings, Inc. is headquartered in La Jolla, California, USA.

What are the main insurance products offered by Palomar?

Palomar offers a range of products including Residential Earthquake, Commercial Earthquake, Specialty Homeowners, Inland Marine, Commercial All Risk, Hawaii Hurricane, and Residential Flood insurance.

What is the company's strategic plan?

Palomar's strategic plan, known as Palomar 2X, focuses on achieving consistent profitable growth and diversifying its offerings to reduce volatility.

What recent growth has Palomar Holdings experienced?

Palomar has recorded a significant growth of 153% in adjusted net income and an adjusted return on equity of 22.3%, with record quarterly gross written premiums.

How does Palomar distribute its insurance products?

Palomar distributes its products through multiple channels, including retail agents, program administrators, wholesale brokers, and partnerships with other insurance companies.

What new business lines has Palomar recently introduced?

Palomar has recently introduced new lines of business such as Crop, Environmental Liability, and Assumed Reinsurance.

What markets does Palomar primarily serve?

Palomar primarily serves residential and commercial markets in earthquake-exposed states like California, Oregon, and Washington, as well as areas susceptible to wind and flood damage.

How does Palomar ensure financial stability and growth?

Palomar ensures financial stability and growth through disciplined capital management, strategic investments, and innovative risk-adjusted return strategies.

Where can I find the latest updates on Palomar Holdings, Inc.?

For the latest updates, you can refer to Palomar Holdings, Inc.'s official communications or visit their website.
Palomar Holdings, Inc.

Nasdaq:PLMR

PLMR Rankings

PLMR Stock Data

2.80B
25.73M
2.79%
94.8%
1.62%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
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United States of America
LA JOLLA