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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.
Palomar Holdings
Palomar Holdings
Palomar Holdings Revenue by Segment
Palomar Holdings Revenue by Geographic Location
Revenue by Segment
Earthquake Revenue
CapyFin.comCasualty Revenue
CapyFin.comFronting Revenue
CapyFin.comCrop Revenue
CapyFin.comRevenue 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
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