{
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  "organisationId": "O-10fa1558b07342a1bd08c9bc8dbba470",
  "slug": "palomar-holdings-inc",
  "name": "Palomar Holdings, Inc.",
  "updatedAt": "2026-03-18T13:16:42.341972Z",
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      "type": "OVERVIEW",
      "text": "Palomar Holdings, Inc. is a specialty property and casualty insurer that provides insurance products to individuals and businesses in the United States.[P-1168ed952b8f4221a3d1773c61d491b3] The company distributes its products through retail agents, wholesale brokers, program administrators, and carrier partnerships, and it reports a single operating segment focused on specialty insurance products.[P-103895f386f64f7c84f95cc6de9ca197][P-a70b971d6ffb4f99836694f995db6bba] Its core offerings span five product categories: earthquake, inland marine and other property, casualty, fronting, and crop insurance.[P-1168ed952b8f4221a3d1773c61d491b3][P-bca23ebd7a43424f989b825183ff23a2]\n\nFounded in 2014 and headquartered in La Jolla, California, Palomar was established to address unmet needs in specialty insurance markets.[P-17e84579cc8340bf923ffd02c2b1d204][P-1d27324a715a4b63a2e5167281c053da][P-fc5c5f35a8d149c88370bcd1faa76566] The company is primarily U.S.-focused: it is licensed as an admitted insurer in 44 states and can write business nationally through its surplus lines subsidiary, with California representing its largest premium concentration and additional meaningful exposure in states including Texas, Hawaii, and Florida.[P-29dd3f8104aa44b1984c4f1b2c200358][P-551211b027644d37ac8db0279ff3b0c4][P-815e2319f91c44e7afb3c85795c89319] As general size indicators, Palomar employed 253 people at the end of 2024 and generated $553.9 million of total revenue in 2024, while producing about $1.5 billion of gross written premiums.\n\n[P-0b1093c94fe549e1b0b674dd0d25f5cf][P-15c360422095476cb1cf7d3badab9e51][P-9f6c29f6868d478086ab94bc0a01f99f]",
      "updatedAt": "2026-03-18T13:16:42.341972Z"
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      "type": "PRODUCTS",
      "text": "Palomar Holdings’ core insurance products are organized across Earthquake, Inland Marine and Other Property, Casualty, Fronting, and Crop lines [P-1168ed952b8f4221a3d1773c61d491b3][P-bca23ebd7a43424f989b825183ff23a2]. Its earthquake products include Residential and Commercial Earthquake coverage written on both admitted and excess-and-surplus-lines bases [P-ec96b0ad07de4effb3490ea463d87c86]. Residential earthquake policies cover the dwelling, contents, appurtenant structures, and temporary housing, offer a range of deductible options, and can be written with policy limits up to $15 million [P-c946f56192274d368ea67bcdc63a73ab]. Palomar says it prices earthquake risk at the ZIP-code or geocode level using catastrophe models and factors such as soil type, liquefaction potential, and proximity to fault lines; for commercial earthquake it targets relatively benign risks where business-interruption exposure is typically less than 15% of total insured value [P-ec96b0ad07de4effb3490ea463d87c86][P-9f92593402bf4e18b9ca80fc4e710502].\n\nIts Inland Marine and Other Property offerings include Inland Marine, Hawaii Hurricane, Commercial All Risk, Excess National Property, Residential Flood, and other miscellaneous property products, written on admitted and E&S bases directly and through program administrators [P-5e3ab506b77f4138b15ca875f2a88c85]. Within that group, Palomar underwrites residential flood at the distinct-address level using proprietary models rather than broad pricing zones [P-bb0e3cdd957b403fb819d9228ee8f946]. Its Commercial All Risk product is written on an E&S basis nationwide for the layered and shared commercial property market [P-2a26a5f8489d487a9b17d5a99855282e]. Its Hawaii Hurricane product provides admitted residential property coverage for named hurricanes in Hawaii, with coverage triggered by wind damage during a hurricane watch or warning and extending for 72 hours after the warning expires [P-02ac2abc50d746ca8f8101984162d2af].\n\nPalomar’s casualty products focus on niche segments including Real Estate Agent Errors and Omissions, Excess Liability, and Environmental Liability, with underwriting and actuarial review used to set pricing, terms and conditions, limits, and attachment points [P-4fa537ac56db41ae970c033efd572a40]. Its fronting service allows reinsurers, insurance carriers, and managing general agents to use Palomar’s licensed admitted and E&S carriers to run customized insurance programs; in these arrangements, Palomar generally cedes most of the premium and risk and earns a fronting fee as its primary source of profit [P-9a55c248eb2d493b8fca38d819770098][P-3e80496992524c9cab329218d2b02e7b]. The crop line consists primarily of multi-peril crop insurance offered with the USDA Risk Management Agency to cover revenue shortfalls or production losses from perils such as drought, hail, and wind, and it also includes Livestock and Private Product Crop offerings [P-ae2b50175ee94c85b93b45378d932590]. In 2024, Earthquake represented 33.9% of gross written premiums, Inland Marine and Other Property 21.7%, Fronting 21.6%, Casualty 15.3%, and Crop 7.5% [T-ec076b6d145f417681048bef2b153a8a].",
      "updatedAt": "2026-03-18T13:16:42.341972Z"
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      "type": "GEOGRAPHY",
      "text": "Palomar Holdings’ insurance business is U.S.-focused: it writes business across the United States and is licensed as an admitted insurer in 44 states. Its largest geographic exposure is California, and the company states that its policyholders and insurance risks are concentrated there.[P-7e5fe9bfbda940cf835b755f0f314440][P-00165b8c4f604963ae23e476e133b1f6] In 2024, California accounted for $668.6 million of gross written premiums, or 43.4% of the total, followed by Texas at $124.4 million (8.1%), Hawaii at $72.6 million (4.7%), Florida at $67.0 million (4.3%), Washington at $57.9 million (3.8%), New York at $38.9 million (2.5%), Oregon at $29.6 million (1.9%), and Illinois at $20.9 million (1.4%); all other states together represented 30.0% of gross written premiums.[T-345f5adae6a4487fa807728693e377bf]\n\nThe company’s primary executive offices and insurance operations are located in La Jolla, California, and it also maintains an office in Edina, Minnesota.[P-e9dcea289cba4badb02458cb9a22a1d2] Its principal executive office is at 7979 Ivanhoe Avenue, Suite 500, La Jolla, California 92037.[P-1d27324a715a4b63a2e5167281c053da] As of December 31, 2024, Palomar had 253 team members, and it discloses that a portion of employees work remotely outside its primary office locations.\n\n[P-0b1093c94fe549e1b0b674dd0d25f5cf][P-6d513259fbf54034afe505054d00f3cb]",
      "updatedAt": "2026-03-18T13:16:42.341972Z"
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    {
      "type": "SEGMENTS",
      "text": "Palomar Holdings, Inc. reports one operating and reportable segment: property and casualty insurance. Management evaluates the business on a consolidated basis rather than as multiple reportable segments. Beginning in 2024, the company also updated its product categorization to align with management’s current strategy, with prior periods reclassified for comparability. [P-0e53c03cf14840818bd3eeec82d717ce][P-447816f4012f46579dcd916db1b260df]\n\nWithin that single reportable segment, Palomar presents five product lines that provide the most useful functional breakdown of the business. Earthquake insurance, focused on residential and commercial earthquake coverage and historically the company’s core specialty, represented about 33.9% of 2024 gross written premiums. Inland Marine and Other Property, which includes inland marine, Hawaii hurricane, commercial all risk, excess national property, residential flood and other property products, represented about 21.7%. Fronting, which provides customized insurance programs for reinsurers, carriers and MGAs through Palomar’s admitted and excess & surplus lines carriers, represented about 21.6%. Casualty, focused on niche lines such as real estate E&O, excess liability and environmental liability, represented about 15.3%. Crop, consisting primarily of multi-peril crop insurance plus livestock and private crop products, represented about 7.5%.\n\n[P-ec96b0ad07de4effb3490ea463d87c86][P-5e3ab506b77f4138b15ca875f2a88c85][P-9a55c248eb2d493b8fca38d819770098][P-4fa537ac56db41ae970c033efd572a40][P-ae2b50175ee94c85b93b45378d932590][T-c46dc71d4ce84f0f86caa45287cbfa8d]",
      "updatedAt": "2026-03-18T13:16:42.341972Z"
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    {
      "type": "HISTORY",
      "text": "Palomar Holdings traces its origins to October 2013, when the holding company was formed in the Cayman Islands. Its primary operating subsidiary, Palomar Specialty Insurance Company, was formed in February 2014, and the company identifies Mac Armstrong as its founder. [P-579403d016064879aab4b11b8033704d][P-3bb0bc50ecaa4049967c21eb7da0b0a1][P-7af637a7c008494394297083d7e72d57] In 2014, Palomar launched its initial Residential and Commercial Earthquake products, then expanded its operating structure by incorporating Palomar Specialty Reinsurance Company Bermuda in August 2014 and Prospect General Insurance Agency, later renamed Palomar Insurance Agency, in August 2015. [P-a4505ef11ef341b998b2c6ce66e6623a][P-3bb0bc50ecaa4049967c21eb7da0b0a1]\n\nA major corporate milestone came in 2019, when Palomar domesticated to Delaware in March and its common shares began trading on the Nasdaq Global Select Market under the symbol PLMR on April 17, 2019. [P-579403d016064879aab4b11b8033704d][P-d9451e784d8949b296172e85a6797bef] The company continued to broaden its platform in 2020 by receiving regulatory approval for and capitalizing Palomar Excess and Surplus Insurance Company, and in 2023 it formed PUEO to provide management services to Laulima Exchange in Hawaii.\n\n[P-d2fbef2485a64d86a49466e1b7e5ec52]",
      "updatedAt": "2026-03-18T13:16:42.341972Z"
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      "href": "https://app.finbar.com/go?id=P-d2fbef2485a64d86a49466e1b7e5ec52",
      "label": "Palomar Holdings, Inc. — Full financial report (2024 Y)",
      "documentId": "D-f4e766c7a7294fcca9cbe4074d631ccd"
    }
  ]
}