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Mar 31, 2020
Palomar Holdings Q1 2020 Earnings Report
Reported strong top-line growth, driven by an attractive rate environment for commercial lines and sustained demand for personal lines, with a 40% year-over-year increase in adjusted net income, resulting in an annualized adjusted ROE of 20.6%.
Key Takeaways
Palomar Holdings, Inc. reported a net income of $11.8 million, or $0.48 per diluted share, for Q1 2020, compared to a net loss of $14.4 million, or $(0.85) per diluted share, for Q1 2019. Adjusted net income was $12.3 million, or $0.50 per diluted share, for Q1 2020, compared to $8.8 million, or $0.52 per diluted share, for Q1 2019. Gross written premiums increased by 32.3% to $71.5 million compared to the first quarter of 2019.
Gross written premiums increased by 32.3% to $71.5 million compared to $54.0 million in the first quarter of 2019
Net income increased to $11.8 million compared to a net loss of $14.4 million in the first quarter of 2019
Adjusted net income increased by 39.5% to $12.3 million compared to $8.8 million in the first quarter of 2019
Combined ratio of 63.6% compared to 193.8% in the first quarter of 2019
Palomar Holdings
Palomar Holdings
Palomar Holdings Revenue by Geographic Location
Revenue by Geographic Location
California Revenue
CapyFin.comTexas Revenue
CapyFin.comHawaii Revenue
CapyFin.comWashington Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The Company affirms prior guidance of adjusted net income of $50.5 to $53.0 million for the full year 2020, equating to a growth rate of 33% to 40% compared to the full year 2019.
Revenue & Expenses
Visualization of income flow from segment revenue to net income