Companies · PLMR
Palomar Holdings
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Aug 5, 2026
Palomar delivers 15th consecutive earnings beat, raises FY2026 adjusted net income guidance to $270-280M on 27% GWP growth and crop outperformance.
Palomar's Q2 2026 results demonstrate the earnings durability of a deliberately diversified specialty insurance platform: adjusted net income rose 31% to $63.8 million, adjusted combined ratio held at 76.7%, and the crop franchise nearly doubled its original premium projection to over $400 million for the year. The company raised full-year adjusted net income guidance to $270-280 million — its third increase in 2026 — and simultaneously initiated a quarterly dividend without constraining its Palomar 2X growth strategy. Competitive pressure in large commercial earthquake and property is real but contained by the breadth of the portfolio, with casualty, crop, and surety growing faster and providing uncorrelated earnings diversification.
Tone: bullishRevenue
$876M
PLMR 10-K · FY 2025
Employees
439
Revenue FY2024
$553.9M
Founded
2014
Profile
PLMR 10-K Item 1 · Feb 24, 2026Palomar Holdings is a specialty property and casualty insurer that uses proprietary data analytics and a technology-enabled platform to underwrite earthquake, casualty, inland marine, crop, and fronting risks for individuals and businesses across the United States. The company distributes through retail agents, wholesale brokers, program administrators, and carrier partnerships, and manages earnings volatility through an extensive reinsurance program including catastrophe bonds. Founded in 2014, Palomar has grown gross written premiums from $16.6 million to $2.0 billion, achieving a compound annual growth rate of approximately 55%.
Read filing description ↓ Collapse description ↑
We are a specialty insurance company that provides property and casualty insurance products to individuals and businesses. We leverage underwriting expertise and data-driven analytics to offer innovative solutions in five product categories: Earthquake, Casualty, Inland Marine and Other Property, Crop, and Fronting. We offer coverage in both the admitted and excess and surplus lines ('E&S') markets, utilizing proprietary data analytics and a technology-enabled platform to support customized underwriting and pricing. Our insurance company subsidiaries, Palomar Specialty Insurance Company ('PSIC'), Palomar Excess and Surplus Insurance Company ('PESIC'), and First Indemnity of America Insurance Co. ('FIA') carry an 'A' financial strength rating from A.M. Best Company ('A.M. Best'), a leading rating agency for the insurance industry. We distribute our products through multiple channels, including retail agents, program administrators, wholesale brokers, and strategic partnerships with other insurance companies. Our business strategy is supported by a comprehensive risk transfer program with reinsurance coverage that we believe reduces earnings volatility and provides appropriate levels of protection from catastrophic events and other significant loss events. Our management team combines decades of insurance industry experience across specialty underwriting, reinsurance, program administration, distribution, analytics, and claims. Founded in 2014, we have significantly grown our business and have generated attractive returns. We have organically increased gross written premiums from $16.6 million in our first year of operations to $2.0 billion for the year ended December 31, 2025, which reflects a compound annual growth rate of approximately 55%. We have been profitable since 2016, and our net income has increased over that period at a compound annual growth rate of approximately 46%.
Primary products
- Residential Earthquake
- Commercial Earthquake
- E&S Casualty
- Primary Casualty
- Real Estate Agent Errors and Omissions
- Excess Liability
Business segments
End markets
Geographies
Named competitors
“We believe that our analytically-driven underwriting approach has been the foundation of our ability to generate attractive risk-adjusted underwriting margins.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from $553.9 million in 2024 to $876.0 million in 2025, driven primarily by strong growth in net earned premiums across Casualty, Crop, and other specialty lines.
The rest of PLMR is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.