Palomar Holdings (PLMR) Company Report

Palomar Holdings reported record gross written premium and adjusted net income for Q3 2025, marking its 12th consecutive earnings beat.
In Q3 2025, adjusted net income increased 70% to $55.2 million or $2.01 per share, while gross written premiums grew 44% to $597.2 million.
The company raised its full-year 2025 adjusted net income guidance to $210 million-$215 million, up from $198 million-$208 million, with the midpoint implying an adjusted return on equity of 24%.
Palomar announced the $300 million acquisition of Gray Casualty and Surety Company, anticipated to close in Q1 2026 and be accretive to earnings in its first year.
The Crop franchise generated $120 million in gross written premium in Q3, doubling the prior year, leading to a revised 2025 Crop premium expectation of $230 million.

Nov 7, 2025, 5:00 PM

Palomar Holdings, Inc. Reports Strong Third Quarter 2025 Results

PLMR

Earnings

Guidance Update

M&A

Palomar Holdings, Inc. reported a 70.0% increase in adjusted net income to $55.2 million, or $2.01 per diluted share, for the third quarter of 2025, compared to $32.4 million, or $1.23 per diluted share, in the third quarter of 2024.
Gross written premiums grew by 43.9% to $597.2 million in Q3 2025, contributing to an adjusted combined ratio of 74.8% and an annualized adjusted return on equity of 25.6%.
The company raised its full-year 2025 adjusted net income outlook to a range of $210 million to $215 million, an increase from the previously announced range of $198 million to $208 million.
Strategic developments include the acquisition of The Gray Casualty and Surety Company and strong performance from its crop franchise, with written premium ahead of initial estimates.

Nov 6, 2025, 9:18 PM

Palomar Holdings Reports Strong Third Quarter 2025 Results and Raises Full-Year Outlook

PLMR

Earnings

Guidance Update

Revenue Acceleration/Inflection

Palomar Holdings reported net income of $51.5 million, or $1.87 per diluted share, and adjusted net income of $55.2 million, or $2.01 per diluted share, for the third quarter of 2025. This compares to net income of $30.5 million and adjusted net income of $32.4 million in the third quarter of 2024.
Gross written premiums increased by 43.9% to $597.2 million in the third quarter of 2025, up from $415.0 million in the third quarter of 2024.
The company's adjusted net income increased by 70.0% and the adjusted combined ratio improved to 74.8% in Q3 2025, compared to 77.1% in Q3 2024.
Annualized adjusted return on equity was 25.6% for the third quarter of 2025, an increase from 21.0% in the same period last year.
Palomar Holdings raised its full-year 2025 adjusted net income outlook to a range of $210 million to $215 million.

Nov 6, 2025, 9:15 PM

Palomar Holdings, Inc. Announces Agreement to Acquire The Gray Casualty & Surety Company

PLMR

M&A

New Projects/Investments

Palomar Holdings, Inc. has entered into a definitive agreement to acquire The Gray Casualty & Surety Company ("Gray Surety") from Bernhard Capital Partners and The Gray Insurance Company.
The total consideration for the acquisition is $300 million in cash, subject to customary closing adjustments.
The transaction has been approved by both Gray Surety and Palomar's boards of directors and is expected to close during the first half of 2026, pending regulatory approvals and other customary closing conditions.
Gray Surety is a Treasury-listed surety carrier specializing in contract bonds for midsized and emerging contractors across the United States, licensed in 50 states and operating through thirteen regional offices.

Oct 30, 2025, 8:15 PM

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Quarterly earnings call transcripts for Palomar Holdings.

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