Reports Q3 revenue $244.66M, consensus $214.31M. Mac Armstrong, Chairman and Chief Executive Officer, commented, “Our third quarter results were exceptional, highlighted by record gross written premium and adjusted net income. We continue to achieve strong top and bottom-line growth as gross written premium grew 44% and adjusted net income increased a stellar 70% across our unique and diverse portfolio. This strong growth underscores the stability of our balanced book of E&S and admitted residential and commercial property and casualty products. Our operating and return metrics were also impressive as we generated an adjusted combined ratio of 75%, and a 26% adjusted return on equity.”
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PLMR:
- Palomar Holdings to Acquire Gray Casualty & Surety
- Palomar to acquire The Gray Casualty & Surety Company for $300M
- Palomar acquires The Gray Casualty & Surety Company, terms not disclosed
- Palomar price target lowered to $137 from $158 at JPMorgan
- Palomar price target lowered to $164 from $172 at Keefe Bruyette
