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Sep 30, 2022
Palomar Holdings Q3 2022 Earnings Report
Palomar Holdings reported strong third quarter results driven by growth in gross written premiums and improved profitability.
Key Takeaways
Palomar Holdings, Inc. reported a net income of $4.3 million, or $0.17 per diluted share, for the third quarter of 2022. Adjusted net income was $7.4 million, or $0.29 per diluted share. Gross written premiums increased by 66.2% to $253.1 million. The combined ratio was 94.8%, and the adjusted combined ratio was 90.3%.
Gross written premiums increased by 66.2% to $253.1 million compared to $152.3 million in the third quarter of 2021
Net income of $4.3 million, compared to $0.2 million in the third quarter of 2021
Adjusted net income of $7.4 million, compared to $1.7 million in the third quarter of 2021
Combined ratio of 94.8% compared to 102.8% in the third 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.comNew York Revenue
CapyFin.comWashington Revenue
CapyFin.comIllinois Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
For 2022, the Company expects to achieve full year adjusted net income of $82 million to $85 million. The range includes additional reinsurance expense resulting from Hurricane Ian and excludes catastrophes and realized and unrealized gains and losses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income