Palomar Holdings, Inc. Announces Appointments to Executive Leadership Team

Rhea-AI Summary

Palomar Holdings announced key executive leadership appointments: Tim Carter as Chief People Officer, effective June 24, 2024, and Rudy Herve as Chief Operating Officer, effective July 1, 2024.

Carter joins from LPL Financial, bringing over 20 years of experience in HR, operations, and sales, and will focus on talent acquisition, retention, and corporate culture. Herve, previously with SCOR, brings expertise in technology, operations, and strategic transformations in the insurance sector.

CEO Mac Armstrong highlights these appointments as critical to executing Palomar's growth strategy, 'Palomar 2X.'

Positive

• Appointment of experienced executives in key roles: Tim Carter and Rudy Herve.
• Tim Carter brings over 20 years of experience in human resources and operations.
• Rudy Herve has expertise in technology, operations, and strategic transformations in insurance.
• Strategic appointments aimed at executing the 'Palomar 2X' growth strategy.

Negative

• None.

LA JOLLA, Calif., June 20, 2024 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ: PLMR) (“Palomar” or the “Company”) today announced that Tim Carter has been appointed Chief People Officer, effective June 24, 2024, and Rodolphe “Rudy” Herve has been appointed Chief Operating Officer, effective July 1, 2024.

Tim Carter brings more than 20 years of executive leadership experience in human resources, operations, and sales functions. Mr. Carter has significant expertise in human capital optimization, talent acquisition and retention, learning and development, and inclusion and culture. Mr. Carter joins Palomar from LPL Financial, Inc. ("LPL") where he served for ten years as Senior Vice President, Human Resources and led talent acquisition, total rewards, and corporate real estate. Mr. Carter also launched LPL's culture transformation program. Mr. Carter previously served in leadership roles at G4S Integrated Services, Parexel, and Home Depot. Prior to his corporate roles, Mr. Carter served as a Captain in the United States Marine Corps. Mr. Carter earned a B.A. in Political Science from San Diego State University.

Rudy Herve is an experienced insurance executive with over 20 years of expertise across technology, operations, strategic transformations, and mergers and acquisitions. Mr. Herve joins Palomar from SCOR, where he served as Global Head of P&C Operations after previously holding the position of CEO of North America and Chief Transformation & Operations Officer for their Specialty Insurance division. Prior to SCOR, Mr. Herve held various leadership roles at QBE North America, leading their expansion into Specialty lines of business. Before joining the insurance industry, Mr. Herve held roles at Bain & Company, Orange Ventures and Morgan Stanley. Mr. Herve earned a Masters in Management from ESCP Europe and a Masters of Business Administration from the University of Pennsylvania’s Wharton School.  

 “We are thrilled to welcome Tim and Rudy to Palomar as we expand our leadership team to effectively manage our profitable growth and execute our Palomar 2X strategy,” commented Mac Armstrong, Palomar’s Chairman and Chief Executive Officer. “Our ability to attract such accomplished executives like Rudy and Tim is a testament to not only our success to date but also and more importantly the opportunity that lays ahead.  We believe Tim and Rudy’s extensive experience will be invaluable as we continue to grow and will further enhance our ability to build Palomar into a leading specialty insurer.” 

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 Reciprocal 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

What recent executive appointments did Palomar Holdings announce?

Palomar Holdings appointed Tim Carter as Chief People Officer and Rudy Herve as Chief Operating Officer.

When will Tim Carter and Rudy Herve start their roles at Palomar?

Tim Carter will start on June 24, 2024, and Rudy Herve will begin on July 1, 2024.

What is Tim Carter's background before joining Palomar Holdings?

Tim Carter has over 20 years of experience in HR, operations, and sales, previously serving as Senior Vice President at LPL Financial.

What expertise does Rudy Herve bring to Palomar Holdings?

Rudy Herve has over 20 years of experience in technology, operations, and strategic transformations within the insurance sector.

What strategy is Palomar Holdings aiming to execute with its new executive appointments?

Palomar Holdings aims to execute its 'Palomar 2X' growth strategy with the new executive appointments.