Palomar Holdings Inc
PLMR
ISIN US69753M1053 / Valor 46983340
Palomar Holdings Inc
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About company
Palomar Holdings Inc is an insurance company specializing in providing customized solutions for complex perils, with a focus on problem solving, innovation, and sustainability. One of their key offerings is Commercial Differences In Conditions (DIC) insurance, which includes earthquake, EQSL, and flood coverages through a flexible solution. The company's commitment to addressing unique risks and delivering tailored insurance products sets them apart in the industry.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (14.08.2024):
Net Income
Palomar Holdings Inc. reported a net income of $25.7 million, or $1.00 per diluted share, for the second quarter of 2024. This represents a significant increase compared to the net income of $17.6 million, or $0.69 per diluted share, for the second quarter of 2023.
Gross Written Premiums
Gross written premiums for Palomar Holdings Inc. increased by 40.4% to $385.2 million in the second quarter of 2024, compared to $274.3 million in the second quarter of 2023. This growth reflects the company's robust performance in premium generation.
Adjusted Net Income
Palomar Holdings Inc. achieved an adjusted net income of $32.0 million, or $1.25 per diluted share, for the second quarter of 2024. This is a notable improvement from the adjusted net income of $21.8 million, or $0.86 per diluted share, for the second quarter of 2023.
Investment Income
Net investment income for Palomar Holdings Inc. increased by 43.7% to $8.0 million in the second quarter of 2024, compared to $5.5 million in the same period of the previous year. The increase was primarily driven by higher yields on invested assets and a higher average balance of investments.
Full Year 2024 Outlook
For the full year 2024, Palomar Holdings Inc. has raised its guidance range and now expects to achieve adjusted net income of $124 million to $130 million. This updated outlook includes catastrophe losses incurred during the first half of the year and anticipated losses from Hurricanes Beryl and Debby in the third quarter.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
2747 M
Market cap (USD)
267,581
Daily traded volume (Shares)
105.37 / 101.35
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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EPS (USD)
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Ratings & reviews
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