Business
Palomar Holdings, Inc. Announces New Partnership with Omaha National Group, Inc.
- Expands PLMR-FRONT to Consist of Four Program Partners Since Formation in the Third Quarter 2021 - - Firmly Positions Palomar to Achieve 2022 Gross Written
About this update from Palomar Holdings, Inc.
[{"type":"text","content":"- Expands PLMR-FRONT to Consist of Four Program Partners Since Formation in the Third Quarter 2021 - - Firmly Positions Palomar to Achieve 2022 Gross Written Premium Target in PLMR-FRONT - LA JOLLA, Calif., July 26, 2022 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or the “Company”) today announced it has entered into a two-year arrangement with new partner Omaha National Group, Inc. (“Omaha National”), a leading tech-enabled provider of workers’ compensation insurance. Palomar’s partnership provides a key entry point through its admitted subsidiary, Palomar Specialty Insurance Company (“PSIC”), acting as the insurer in California, supporting Omaha National’s workers compensation product in California’s admitted market. Omaha National, through its managing general agent, Omaha National Underwriters, will be overseeing the insurance operations including underwriting, risk management and claims. This partnership represents further progress towards Palomar’s strategic growth initiatives in PLMR-FRONT. Palomar operates with a significant competitive advantage and is a key resource in permitting non-licensed insurance companies and reinsurers to access the United States primary insurance market. Mac Armstrong, Chairman & Chief Executive Officer of Palomar, commented, “Palomar is keenly focused on the strategic initiatives conveyed at the outset of the year, namely, building a best-in-class franchise through PLMR-FRONT. This new partnership with Omaha National allows us to not only extend the franchise but to partner with a market leader in the workers compensation space.” “We’re pleased to be teaming up with Palomar as we continue to grow our presence on the West Coast and provide great service to the small and midsize businesses that keep California running,” said Omaha National President and Chief Executive Officer Reagan Pufall. “Palomar is a highly respected company that is filled with exceptionally talented professionals, and we’ve formed a great partnership.” “We are thrilled to partner with Omaha National which provides a renowned tech enabled service and subject expertise in the workers compensation business line,” said Jason Sears, Executive Vice President and Head of Programs at Palomar. “Omaha National’s management team has developed an outstanding reputation and a proven track record within the work...