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Palomar Holdings, Inc.

SIC 6331 · Fire, Marine & Casualty Insurance
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$PLMR

Palomar Holdings, Inc.

CIK:0001761312|SEC Filings
v3.26.1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Gross written premiums [1] $ 630,456 $ 496,288 $ 1,260,284 $ 938,452
Ceded written premiums (305,279) (266,506) (597,192) (497,251)
Net written premiums 325,177 229,782 663,092 441,201
Change in unearned premiums (38,226) (49,824) (114,703) (97,172)
Net earned premiums 286,951 179,958 548,389 344,029
Net investment income 19,950 13,370 37,934 25,441
Net realized and unrealized gains on investments 6,753 8,306 4,860 5,968
Commission and other income 769 1,677 2,178 2,507
Total revenues 314,423 203,311 593,361 377,945
Expenses:        
Losses and loss adjustment expenses 98,988 46,183 186,085 84,927
Acquisition expenses, net of ceding commissions and fronting fees 71,256 51,637 141,571 97,996
Other underwriting expenses 69,429 45,525 134,336 81,258
Interest expense 4,947 86 8,105 171
Total expenses 244,620 143,431 470,097 264,352
Income before income taxes 69,803 59,880 123,264 113,593
Income tax expense 17,211 13,352 27,725 24,143
Net income 52,592 46,528 95,539 89,450
Other comprehensive income, net:        
Net unrealized gains (losses) on securities available for sale 1,294 3,009 (12,653) 13,213
Net comprehensive income $ 53,886 $ 49,537 $ 82,886 $ 102,663
Per Share Data:        
Basic earnings per share (in dollars per share) $ 2 $ 1.74 $ 3.61 $ 3.35
Diluted earnings per share (in dollars per share) $ 1.94 $ 1.68 $ 3.51 $ 3.24
Weighted-average common shares outstanding:        
Basic (in shares) 26,346,887 26,756,095 26,458,904 26,707,371
Diluted (in shares) 27,056,554 27,628,733 27,208,113 27,568,913
[1] Beginning in 2026, the Company has updated the categorization of its products to align with management’s current strategy and view of the business. Prior year amounts have been reclassified for comparability purposes. The recategorization is for presentation purposes only and does not impact overall gross written premiums.