Reinsurance News
Palomar
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’s net income expands to $46.5m in Q2’25
5th August 2025
Palomar has reported a net income of $46.5 million for Q2 2025, up from $25.7 million in Q2 2024, while its combined ratio improved to 78.8%. At the same time, the firm's gross written premiums increased 28.8% to $496.3 million in Q2 2025, and net earned premiums increased 47.2%. Palomar's Q2 2025 ... 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 beats reinsurance forecasts as 2025 placements outperform
9th May 2025
Reinsurance market dynamics are seemingly more favourable to buyers in 2025, with Palomar Holdings CEO Mac Armstrong reporting that all placements so far have exceeded the company’s initial forecast of flat to down 5%. "All placements to-date have come in better than our forecast of flat to -5%. When we put ... Read the full article
Palomar’s Q1’25 net income hits $42.9m as CoR improves
6th May 2025
Palomar Holdings has reported a net income of $42.9 million for Q1 2025, up considerably compared to the $26.4 million disclosed in Q1 2024. Palomar's gross written premiums were also up in the opening quarter of 2025, expanding 20.1% from the same period of 2024 to $442.2 million, while net earned ... 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 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
AM Best revises outlook for Palomar and subsidiaries to stable
31st July 2024
AM Best, the global credit rating agency, has revised the outlook to stable from positive and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” (Good) from “bbb-” (Good) of Palomar Holdings, Inc., the insurance holding company and its subsidiaries. The subsidiaries include Palomar Specialty Insurance Company (PSIC), Palomar Excess ... Read the full article
Karma Wallet and Palomar jointly launch new card to help insurance claims
30th July 2024
Karma Wallet, a financial platform dedicated to sustainability and social impact, has strategically partnered up with Palomar, an innovative specialty insurer serving residential and commercial clients to launch Karma Wallet Card. The card aims to provide customers with the benefit of greater financial security through an innovative insurance coverage capability provided ... 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 extends top of reinsurance tower to $3.06bn at renewal
29th May 2024
Specialty property insurer Palomar Holdings has announced the completion of its 2024 reinsurance renewal, raising the top of its tower to $3.06 billion for earthquake events, $735 million for Hawaii hurricane events, and $117.5 million for all continental United States hurricane events. Last year, Palomar renewed its reinsurance towers to ... 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
Palomar appoints Pushic VP of Casualty Underwriting & Head of Environmental
8th September 2023
Palomar Holdings has appointed Brian Pushic as Vice President, Casualty Underwriting, and Head of Environmental effective immediately. Pushic’s remit in the role will include being responsible for launching the Company’s Environmental practice, allowing Palomar to further extend its growing Casualty franchise. Mac Armstrong, Chairman and Chief Executive Officer of Palomar, commented, “I ... Read the full article
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