Reinsurance News
Palomar Holdings
Palomar’s net income rises 60.6% to $56.2m for Q4’25
12th February 2026
Specialty insurer Palomar Holdings, Inc. has reported a 60.6% rise in net income to $56.2 million for the fourth quarter of 2025, compared to net income of $35 million in Q4’24. The insurer reported strong underwriting results for the quarter as gross written premiums (GWP) rose by 31.8% to $492.6 million ... Read the full article
Palomar completes acquisition of Gray Surety
3rd February 2026
Specialty property insurer Palomar Holdings, Inc. has completed the acquisition of The Gray Casualty & Surety Company (Gray Surety), a national surety carrier, and has also successfully closed new unsecured financing. The acquisition was initially announced in October 2025, with Palomar agreeing to acquire Gray Surety from Bernhard ... Read the full article
Palomar’s net income rises 68.7% to $51.5m in Q3’25
7th November 2025
Specialty insurer Palomar Holdings, Inc. reported a net income of $51.5 million in the third quarter of 2025, up 68.7% from $30.5 million in the same period a year earlier. In Q3’25, gross written premiums increased 43.9% to $597.2 million, compared to $415 million in Q3’24. Net written premiums amounted to $275.2 ... Read the full article
Palomar to acquire The Gray Casualty & Surety Company for $300m
31st October 2025
Specialty property insurer Palomar Holdings has agreed to acquire The Gray Casualty & Surety Company from Bernhard Capital Partners (BCP), and The Gray Insurance Company for a total consideration of $300 million in cash. Gray Surety is a Treasury-listed surety carrier specialising in contract bonds for midsized and emerging contractors across ... Read the full article
Neptune appointed as Palomar’s exclusive MGA for flood insurance
27th June 2025
Specialty property insurer Palomar Holdings, Inc. has announced a strategic partnership with Neptune Flood, a private flood insurance provider, to accelerate growth in the US flood insurance market. As part of the collaboration, Neptune will become Palomar’s exclusive managing general agent (MGA) for flood insurance. Palomar will gain access to Neptune’s AI-powered ... Read the full article
Palomar extends earthquake reinsurance coverage to $3.53bn at June 1
30th May 2025
Palomar Holdings has completed key reinsurance placements effective June 1, 2025, adding approximately $455 million in incremental limit to support its expanding Earthquake franchise, bringing total earthquake coverage to $3.53 billion and U.S. hurricane coverage to $100 million. The firm explained that per occurrence event retention is $11 million for hurricane ... Read the full article
Palomar to acquire Advanced AgProtection
21st March 2025
Specialty property insurer Palomar Holdings has entered into a definitive agreement to acquire Advanced AgProtection (AAP), a Texas-domiciled specialised crop managing general agent (MGA), building on the pairs successful collaboration over the last two years. The AAP team is comprised of industry veterans with longstanding relationships and a proven track record ... Read the full article
Palomar reports strong 23% growth in premiums for Q4’24
13th February 2025
Palomar Holdings, Inc., a specialty insurer, posted strong underwriting performance in 2024, with significant increases in premiums and underwriting income, driving robust financial performance for the fourth quarter and full year. In the fourth quarter 2024, Palomar saw impressive growth in its underwriting operations. Gross written premiums surged 23.3%, reaching $373.7 ... Read the full article
Palomar Holdings acquires First Indemnity of America Insurance Company
3rd January 2025
Specialty property insurer Palomar Holdings has completed its acquisition of First Indemnity of America Insurance Company (FIA). Founded in 1979, FIA is an independent surety company specialising in providing bonding solutions for contractors, businesses, developers, and the legal community across the U.S. Mac Armstrong, Chairman and CEO of Palomar, commented, “I am ... Read the full article
Palomar Holdings’ CoR falls to 80.5% on $12.9m cat losses, GWP rises to $415m
5th November 2024
Palomar Holdings has reported a 32.2% rise in gross written premiums (GWP) to $415 million for the third quarter of 2024, while catastrophe losses drove a 4.7 point deterioration in the combined ratio to 80.5%, compared to 75.8% in the third quarter of 2023. At the same time, Palomar's net income ... Read the full article
Palomar Holdings hires David Sapia as EVP, Head of E&S Casualty
11th September 2024
Palomar Holdings, a specialty property insurer, has announced the key appointment of David Sapia as the Executive Vice President, Head of E&S Casualty, effective September 9th, 2024. Sapia is responsible for spearheading the development of an E&S casualty division, supporting the existing casualty operations, and identifying additional opportunities for profitable growth ... Read the full article
Palomar reports rise in net income to $25.7m in Q2’24
6th August 2024
Specialty insurer Palomar Holdings has reported a net income of $25.7 million for the second quarter of 2024, an improvement compared to net income of $17.6 million from Q2 2023. The company’s gross written premiums (GWP) experienced substantial growth, increasing by 40.4% to $385.2 million compared to $274.3 million from the ... Read the full article
Palomar Holdings announces two key leadership appointments
21st June 2024
Palomar Holdings, a specialty property insurer, has announced two key appointments: Tim Carter as Chief People Officer and Rodolphe “Rudy” Herve as Chief Operating Officer. Mac Armstrong, Chairman and Chief Executive Officer of Palomar, expressed his enthusiasm about these appointments, stating, “We are thrilled to welcome Tim and Rudy to Palomar ... Read the full article
Palomar Holdings reports $26.4m net income in Q1’24 results
7th May 2024
Palomar Holdings has reported a net income of $26.4 million for the first quarter of 2024, marking a notable increase of $17.3 million from the same period in 2023. The company has experienced substantial growth in gross written premiums (GWP), surging from $250.1 million in Q1’23 to $368.1 million in Q1’24, ... Read the full article
Conifer partners with Palomar to offer specialised cannabis insurance
3rd April 2024
Conifer Holdings, Inc., a specialty insurance holding company, has announced its partnership with Palomar Holdings, Inc., to provide specialised insurance coverage tailored for the cannabis industry. This coverage will be provided through Palomar Specialty Insurance Company (PSIC) and Palomar Excess and Surplus Insurance Company (PESIC), both of which hold an “A-” ... Read the full article
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