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Jun 30, 2020
Palomar Holdings Q2 2020 Earnings Report
Reported second quarter 2020 results with increased gross written premiums and net income.
Key Takeaways
Palomar Holdings reported a net income of $12.0 million, or $0.48 per diluted share, for the second quarter of 2020. Gross written premiums increased by 43.6% to $83.8 million. The company successfully completed its June 1st reinsurance placement and announced the formation of Palomar Excess and Surplus Insurance Company.
Gross written premiums increased by 43.6% to $83.8 million compared to $58.3 million in the second quarter of 2019.
Net income increased by 79.3% to $12.0 million, or $0.48 per diluted share, compared to a net income of $6.7 million, or $0.30 per diluted share, in the second quarter of 2019.
Adjusted net income increased by 63.0% to $13.0 million, or $0.52 per diluted share, compared to $8.0 million, or $0.36 per diluted share, in the second quarter of 2019.
Total loss ratio of 10.1% compared to 2.8% in the second quarter of 2019.
Revenue by Geographic Location
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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