Loading...
•
Mar 31, 2021
Palomar Holdings Q1 2021 Earnings Report
Palomar Holdings reported strong first quarter results with significant growth and profitability.
Key Takeaways
Palomar Holdings, Inc. reported a net income of $16.6 million, or $0.63 per diluted share, for the first quarter of 2021, compared to $11.8 million, or $0.48 per diluted share, for the first quarter of 2020. Adjusted net income was $19.3 million, or $0.73 per diluted share, for the first quarter of 2021, compared to $12.3 million, or $0.50 per diluted share, for the first quarter of 2020. Gross written premiums increased by 44.9% to $103.6 million.
Gross written premiums increased by 44.9% to $103.6 million compared to the first quarter of 2020.
Net income increased by 41.2% to $16.6 million compared to the first quarter of 2020.
Adjusted net income increased by 56.5% to $19.3 million compared to the first quarter of 2020.
The company's combined ratio was 60.4% compared to 63.6% in the first quarter of 2020.
Palomar Holdings
Palomar Holdings
Palomar Holdings Revenue by Geographic Location
Revenue by Geographic Location
California Revenue
CapyFin.comTexas Revenue
CapyFin.comHawaii Revenue
CapyFin.comFlorida Revenue
CapyFin.comWashington Revenue
CapyFin.comIllinois Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
For the full year 2021, the Company expects to achieve adjusted net income of $64 million to $69 million, which considers the impact of Winter Storm Uri.
Revenue & Expenses
Visualization of income flow from segment revenue to net income