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Jun 30, 2022
Palomar Holdings Q2 2022 Earnings Report
Palomar had a strong second quarter, demonstrating execution of 2022 strategic objectives and 'Palomar 2X'.
Key Takeaways
Palomar Holdings reported a strong second quarter with a 69.1% increase in gross written premiums, a net income of $14.6 million, and an adjusted combined ratio of 69.1%. The company's performance showcases the execution of its strategic objectives and 'Palomar 2X' plan.
Gross written premiums increased by 69.1% to $218.7 million compared to the second quarter of 2021.
Net income was $14.6 million, compared to $12.3 million in the second quarter of 2021.
The total loss ratio was 17.9% compared to 13.3% in the second quarter of 2021.
The adjusted combined ratio was 69.1%, compared to 73.8% in the second quarter of 2021.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company maintains its outlook to achieve adjusted net income of $80 million to $85 million, including $5.9 million of pre-tax unrealized losses on equity security holdings. This range is equivalent to adjusted net income of $85 million to $90 million excluding unrealized gains and losses for the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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