Business
Palomar Holdings, Inc. Reports Third Quarter 2025 Results
LA JOLLA, Calif., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $51.5 million, or
About this update from Palomar Holdings, Inc.
[{"type":"text","content":"LA JOLLA, Calif., Nov. 06, 2025 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $51.5 million, or $1.87 per diluted share, for the third quarter of 2025 compared to net income of $30.5 million, or $1.15 per diluted share, for the third quarter of 2024. Adjusted net income(1) was $55.2 million, or $2.01 per diluted share, for the third quarter of 2025 as compared to $32.4 million, or $1.23 per diluted share, for the third quarter of 2024. Third Quarter 2025 Highlights Gross written premiums increased by 43.9% to $597.2 million compared to $415.0 million in the third quarter of 2024Net income of $51.5 million compared to $30.5 million in the third quarter of 2024Adjusted net income(1) increased 70.0% to $55.2 million compared to $32.4 million in the third quarter of 2024Total loss ratio of 32.3% compared to 29.7% in the third quarter of 2024Catastrophe loss ratio(1) of 0.8% compared to 9.5% in the third quarter of 2024Combined ratio of 78.1% compared to 80.5% in the third quarter of 2024Adjusted combined ratio(1) of 74.8% compared to 77.1%, in the third quarter of 2024Annualized return on equity of 23.9% compared to 19.7% in the third quarter of 2024Annualized adjusted return on equity(1) of 25.6% compared to 21.0% in the third quarter of 2024 (1) See discussion of “Non-GAAP and Key Performance Indicators” below. Mac Armstrong, Chairman and Chief Executive Officer, commented, “Our third quarter results were exceptional, highlighted by record gross written premium and adjusted net income. We continue to achieve strong top and bottom-line growth as gross written premium grew 44% and adjusted net income increased a stellar 70% across our unique and diverse portfolio. This strong growth underscores the stability of our balanced book of E&S and admitted residential and commercial property and casualty products. Our operating and return metrics were also impressive as we generated an adjusted combined ratio of 75%, and a 26% adjusted return on equity.” Mr. Armstrong continued, “Beyond our financial performance, we remain focused on achieving our Palomar 2X strategic imperatives. Notably, during the quarter our young crop franchise’s written premium in the quarter was well ahead of our initial estimates and in October we announced the acquisition of The Gray Casualty and Surety Com...