AM Best Comments on Credit Ratings of Palomar Holdings, Inc., Its Member Companies and Affiliate

About this update from Palomar Holdings, Inc.

[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":2222,"height":1080,"url":"https://media.zenfs.com/en/business-wire.com/60a8cfd481206a8e46614192a5648d81"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/BcissVktP_Nqzl7jDDzxzQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTQ2NztjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/60a8cfd481206a8e46614192a5648d81","width":960,"height":467},"lightbox":{"url":"https://s.yimg.com/ny/api/res/1.2/uY8UzVNEgkQmP71l5ITExw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTI0MDA7aD0xMTY2O2NmPXdlYnA-/https://media.zenfs.com/en/business-wire.com/60a8cfd481206a8e46614192a5648d81","width":1200,"height":583}},"lazy":false},{"type":"text","content":"OLDWICK, N.J., November 04, 2025--(BUSINESS WIRE)--AM Best has commented that the Credit Ratings (ratings) of Palomar Holdings, Inc. (Palomar) (Delaware) [NASDAQ: PLMR], the ultimate parent and insurance holding company of Palomar Specialty Insurance Company (PSIC) (Portland, OR), Palomar Excess and Surplus Insurance Company (PESIC) (Phoenix, AZ), Palomar Specialty Reinsurance Company Bermuda Ltd. (Palomar Re) (Bermuda) and First Indemnity of America Insurance Company (FIA) (Morris Plains, NJ) remain unchanged following the Oct. 30, 2025 announcement that Palomar entered into a definitive agreement with Bernhard Capital Partners (the ultimate parent of The Gray Casualty & Surety Company {Gray}). Per the agreement, Palomar will purchase Gray with the transaction expected to close in the first half of 2026.","length":820,"tagName":"p"},{"type":"text","content":"Palomar has a Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb" (Good), while PSIC, PESIC and Palomar Re have a Financial Strength Rating (FSR) of A (Excellent) and Long-Term ICRs of "a" (Excellent). The outlook for these ratings is stable.","length":266,"tagName":"p"},{"type":"text","content":"FIA has an FSR of A- (Excellent) and a Long-Term ICR of "a-" (Excellent). The outlook for these ratings is positive.","length":126,"tagName":"p"},{"type":"text","content":"Gray has an FSR of A- (Excellent) and a Long-Term ICR of "a-" (Excellent). These ratings have been placed under review with positive implications following the announcement of the transaction.","length":202,"tagName":"p"},{"type":"text...

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