Andrew Andersen

Mark Hughes

Meyer Shields

Pablo Singzon

Paul Newsome

Peter Knudsen

David Motemaden

Jon Paul Newsome

Peter Phipson

- 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.  **[1761312_0001193125-25-258571_plmr-ex99_1.htm:0]** 
- The total consideration for the acquisition is **$300 million in cash**, subject to customary closing adjustments.  **[1761312_0001193125-25-258571_plmr-ex99_1.htm:0]** **[1761312_0001193125-25-258571_plmr-20251027.htm:1]** 
- 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.  **[1761312_0001193125-25-258571_plmr-ex99_1.htm:0]** 
- 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**.  **[1761312_0001193125-25-258571_plmr-ex99_1.htm:0]** **[1761312_0001193125-25-258571_plmr-ex99_1.htm:1]**

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

Palomar Holdings (PLMR)