Palomar Holdings ( (PLMR) ) has released its Q1 earnings. Here is a breakdown of the information Palomar Holdings presented to its investors.
Palomar Holdings, Inc. is a specialty insurance company that provides innovative insurance solutions across various sectors, including residential and commercial properties, with a focus on earthquake, inland marine, and crop insurance. The company is recognized for its diversified portfolio and strong financial ratings.
In its first-quarter 2025 earnings report, Palomar Holdings announced a significant increase in net income, reporting $42.9 million compared to $26.4 million in the same period last year. The company also achieved a record adjusted net income of $51.3 million, reflecting an 84.6% increase from the previous year. This growth is attributed to the company’s strategic initiatives and expansion into new product lines.
Key financial highlights include a 20.1% increase in gross written premiums, reaching $442.2 million, and a substantial rise in net earned premiums by 52.1%. The company’s loss ratio improved to 23.6%, and the combined ratio decreased to 73.1%, indicating enhanced operational efficiency. Palomar’s investment income also saw a notable increase of 69.1%, driven by higher yields and a larger investment portfolio.
Looking ahead, Palomar Holdings is optimistic about its financial performance for the full year 2025, with an expected adjusted net income ranging from $186 million to $200 million. The company remains committed to executing its strategic imperatives and continuing its growth trajectory in the specialty insurance market.