Palomar (PLMR) announced it has entered into a definitive agreement to acquire The Gray Casualty & Surety Company from Bernhard Capital Partners and The Gray Insurance Company for total consideration of $300M in cash. Gray Surety is a treasury-listed surety carrier specializing in contract bonds. The transaction has been approved by both companies’ boards of directors and is expected to close during the first half of 2026, subject to regulatory approvals.
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