Record Gross Written Premium and Net Income
Palomar reported a record gross written premium growth of 44% and a 70% increase in adjusted net income for the third quarter of 2025.
Acquisition of Gray Casualty and Surety Company
Palomar announced the acquisition of Gray Casualty and Surety Company, enhancing their surety platform and providing access to markets like Texas, Florida, and California.
Strong Operating Metrics
The company achieved an adjusted combined ratio of 75% and an adjusted return on equity of 26%.
Growth in Specialty Lines
Specialty lines such as Casualty, Crop, and Builders Risk showed significant growth, with the Casualty business growing 170% and Crop franchise doubling its premium compared to the previous year.
Positive Revision of 2025 Guidance
Palomar raised its 2025 adjusted net income guidance to $210-$215 million from $198-$208 million.