Reports Q2 revenue $203.3M, consensus $172.55M. Reports gross written premiums increased by 28.8% to $496.3M compared to $385.2M in the second quarter of 2024. Mac Armstrong, Chairman and Chief Executive Officer, commented, “Our second quarter results highlight the sustained execution of our Palomar (PLMR) 2X strategic imperative. We achieved strong top and bottom-line growth in the quarter as gross written premium grew 29% across our diverse portfolio and adjusted net income increased 52%. This strong growth underscores the strength of our product set and the efficacy of our balanced book of property and casualty and residential and commercial products. Our financial metrics were equally stout as we generated an adjusted combined ratio of 73%, and a 24% adjusted return on equity. Beyond our financial performance, we remain focused on achieving our 2025 strategic imperatives. Notably, the successful execution of our June 1 reinsurance program at an adjusted rate decrease of approximately 10% year-over-year should help drive consistent earnings the remainder of 2025 and into 2026. We continue to make investments across our organization, that enhance the talent and operational scale of our business and ultimately strengthen the near-term and long-term prospects of Palomar.”
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