Reinsurance News
Palomar
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
“Q1 a demonstration of the quality of our book of business,” says Palomar CEO
9th May 2023
"The first quarter was a demonstration of the quality of our book of business and our ability to navigate the choppy waters of this hard reinsurance market," says Palomar Holdings CEO Mac Armstrong. Armstrong states that Palomar successfully placed $188 million of incremental excess of loss reinsurance limit during Q1 to ... Read the full article
Palomar secures additional $187.5m in earthquake excess-of-loss reinsurance
5th April 2023
California-headquartered specialty insurer Palomar Holdings has announced the successful placement of certain excess of loss (XOL) reinsurance treaties that support and provide incremental limit for its earthquake line of business. In total, Palomar has secured approximately $187.5 million of incremental XOL limit from a syndicated panel of long-term trading partners which ... Read the full article
Palomar sees GWP increase by 64.8% to $882m in full year results
16th February 2023
California-headquartered specialty insurer Palomar Holdings has reported that 2022 full year gross written premiums increased by 64.8% to $881.9m compared to $535.2m in 2021. Palomar's net income for the full year was $52.2m compared to $45.8m in 2021, with an adjusted net income of $71.3m, in contrast to $52.4m in 2021. Net ... Read the full article
Palomar announces multi-year fronting partnership with Advanced AgProtection
11th January 2023
Palomar Holdings has entered the crop insurance sector through a new multi-year fronting arrangement with managing general agent (MGA), Advanced AgProtection. According to the announcement, this partnership expands Palomar’s PLMR-FRONT into the $20 billion US crop insurance market. It has also been authorised as the fourteen Approved Insurance Provider (AIP) in the ... Read the full article
Palomar completes select California earthquake reinsurance programs
4th January 2023
Palomar Holdings, a speciality California-headquartered insurer, has renewed some of its earthquake reinsurance programs covering California earthquake risk, buying incremental reinsurance limit as well, despite an “unquestionably” hard reinsurance market. The insurer said that it has renewed its California Commercial Earthquake quota share reinsurance program, increased the cession percentage, and secured ... Read the full article
Palomar planning to underwrite “uncorrelated” reinsurance
16th December 2022
Palomar Holdings, the California-headquartered specialty insurer that provides largely catastrophe exposed property products, is planning to begin underwriting some reinsurance lines that are "uncorrelated" with its broader portfolio. The company is a leading insurer of earthquake exposed residential and commercial property in the United States and also writes business exposed to ... Read the full article
Palomar reports premium and GWP growth in Q3
3rd November 2022
California-based Palomar Holdings, Inc., has reported an increase in its gross written premiums (GWP) of 66.2% to $253.1 million for the third quarter of 2022, compared to $152.3 million reported in the same period last year. Palomar’s net income also saw a rise this quarter, to $4.3 million compared to $0.2 ... Read the full article
Palomar utilises reinsurance to offset Hurricane Ian loss
21st October 2022
Palomar has said that it is to use its reinsurance cover to offset losses arising from Hurricane Ian in Q3 2022. The firm said that it was looking at estimated pre-tax catastrophe losses of $12.5m, net of reinsurance, for the third quarter of 2022. This is a full-retention loss for Palomar, ... Read the full article
Palomar links up with Omaha National
27th July 2022
Palomar has gone into a two-year arrangement with Omaha National. Under the partnership, Palomar Specialty Insurance Company (PSIC) will act as the insurer in California to help support Omaha National’s workers compensation product. Omaha National, through its managing general agent, Omaha National Underwriters, will be overseeing the insurance operations including underwriting, ... Read the full article
Cowbell Cyber partners with Palomar on reinsurance capacity
7th July 2022
Cowbell Cyber, the cyber insurance provider for small and medium-sized enterprises, has announced an agreement with Palomar Excess & Surplus Insurance Company to double the available reinsurance capacity for Cowbell Prime 250, Cowbell's cyber coverage for businesses with up to $250 million in revenue. The agreement brings ... Read the full article
- ← Previous
- 1
- 2
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
