Reinsurance News
Palomar Holdings
Palomar completes June reinsurance renewal
19th May 2020
Specialty property insurer Palomar Holdings has announced the successful completion of its June 1, 2020 reinsurance programs. The company procured $200 million of incremental limit for California earthquakes, $300 million of incremental limit for all earthquake zones, and $80 million of incremental windstorm limit. Reinsurance coverage now exhausts at $1.4 billion for ... Read the full article
Palomar adds new CUO, Chief Strategy Officer
5th May 2020
Specialty property insurer Palomar Holdings has announced that Jon Christianson will assume the role of Chief Underwriting Officer, while continuing to serve as Chief Operating Officer. Christianson succeeds Andy Robinson, who has announced his intention to retire. Bill Bold, meanwhile, has been appointed Chief Strategy Officer. He will report to the company’s Chief ... Read the full article
Palomar details Salt Lake City quake exposure
20th March 2020
Specialty property insurer Palomar Holdings has outlined its exposure to the magnitude 5.7 earthquake that struck Magna, Utah and the greater Salt Lake City metropolitan area on March 18th. The quake was the fifth largest in Utah recorded history and the largest to hit the state since 1992. It was quickly ... Read the full article
Palomar’s net income rises but combined ratio weakens in Q4
19th February 2020
U.S. insurer Palomar Holdings, Inc. recorded an increase in net income for the fourth-quarter of 2019 when compared with the same period in 2018, while premiums grew by a huge 68.4% in the quarter. Net income of $10.9 million in the fourth-quarter represents growth of almost 164% when compared with the ... Read the full article
Martha Notaras joins Palomar’s Board of Directors
13th February 2020
Palomar Holdings, Inc. has announced that Martha Notaras has been appointed to its Board of Directors, replacing Geoffrey I. Miller, who resigned from the company's board, effective February 12th, 2020. The appointment sees Notaras serve for an initial term expiring at the firm's 2021 Annual General Meeting of Shareholders and will ... Read the full article
Palomar Holdings completes reinsurance renewal
31st December 2019
Specialty property insurer Palomar Holdings has successfully renewed around $300 million of its core reinsurance program while also purchasing $145 million of incremental limit that sits at the top of its tower. Effective January 1, the program provides up to $1.2 billion of protection from earthquake events and features an incremental ... Read the full article
Palomar reports Q3 demand surge after Ridgecrest quake
5th November 2019
Palomar Holdings, Inc.'s third-quarter 2019 results announcement shows a significant jump in net income and underwriting income for the period, while the Ridgecrest earthquake in July contributed to a surge in demand for residential earthquake coverage. Palomar's net income increased by 376% from the prior year quarter to $7.5 million, while ... Read the full article
Palomar Holdings reports significant premium growth in Q2
14th August 2019
California-based Palomar Holdings, Inc. has reported a more than 56% rise in gross written premiums (GWP) for the second-quarter of 2019 to $58.3 million, while net income fell slightly to $6.7 million, when compared with the second-quarter of 2018. Net income fell by approximately 3% from the $6.9 million recorded in ... Read the full article
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