Reinsurance News
Palomar Excess and Surplus Insurance Company
Palomar returns to cat bond market for $400m of earthquake reinsurance
1st April 2021
Palomar Holdings, Inc., through its wholly-owned subsidiaries Palomar Specialty Insurance Company and Palomar Excess and Surplus Insurance Company, has closed a $400 million 144A catastrophe bond transaction through Torrey Pines Re Pte. Ltd. Palomar and Torrey Pines Re, a special purpose insurer established in Singapore, entered into a multi-year reinsurance arrangement ... Read the full article
Swiss Re backs parametric quake product by Cover Genius & QuickBooks
23rd October 2020
Insurtech firm Cover Genius has teamed up with Intuit to offer a new parametric earthquake policy, which is backed by capacity from Swiss Re and underwritten by Palomar Excess and Surplus Insurance Company. Cover Genius intends to offer a range of insurance products to customers using QuickBooks, an accounting software package ... Read the full article
Palomar’s new E&S start-up receives credit ratings from AM Best
30th July 2020
Palomar Holdings, Inc. has confirmed that AM Best has assigned its new start-up underwriting company Palomar Excess and Surplus Insurance Company (PESIC) a Financial Strength Rating of A- whilst also receiving a Long-Term Issuer Credit Rating of A-. This comes after last month where Palomar announced the formation of a ... Read the full article
Palomar launches E&S insurer; announces pricing of public offering
24th June 2020
Palomar Holdings, Inc. has announced the formation of a new surplus lines insurance company subsidiary, called Palomar Excess and Surplus Insurance Company (PESIC). PESIC is based in Arizona and after receiving all necessary regulatory approvals, is licenced to transact across all of Palomar's existing lines of specialty property business as well ... Read the full article
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