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Jun 30, 2025
Palomar Holdings Q2 2025 Earnings Report
Palomar Holdings reported strong financial results for the second quarter of 2025, with significant increases in net income, adjusted net income, and gross written premiums.
Key Takeaways
Palomar Holdings delivered a robust performance in the second quarter of 2025, driven by a 28.8% increase in gross written premiums and a 80.8% surge in net income. The company's adjusted net income also saw a substantial rise of 51.8%, reflecting strong execution of its strategic initiatives and effective reinsurance program management.
Gross written premiums increased by 28.8% to $496.3 million, demonstrating strong top-line growth.
Net income rose significantly by 80.8% to $46.5 million, indicating improved profitability.
Adjusted net income increased by 51.8% to $48.5 million, highlighting strong underlying business performance.
The adjusted combined ratio remained stable at 73.1%, showcasing efficient underwriting and cost management.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the full year 2025, Palomar Holdings expects to achieve adjusted net income in the range of $198 million to $208 million, an increase from the previously announced range.
Positive Outlook
- Increased full-year 2025 adjusted net income guidance to $198 million - $208 million.
- Successful execution of the June 1 reinsurance program with an approximate 10% year-over-year rate decrease.
- Reinsurance program expected to drive consistent earnings for the remainder of 2025 and into 2026.
- Continued investments in talent and operational scale are expected to strengthen future prospects.
- Strong growth across a diverse portfolio of property and casualty and residential and commercial products.
Challenges Ahead
- The full-year 2025 adjusted net income guidance includes an estimate of $8 million to $12 million in catastrophe losses for the remainder of the year.
- No other specific negative forward guidance was provided in the report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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