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Dec 31, 2022
Palomar Holdings Q4 2022 Earnings Report
Palomar Holdings reported strong Q4 2022 results with significant top-line growth and profitability.
Key Takeaways
Palomar Holdings reported a strong fourth quarter and full year 2022, marked by nearly 60% top-line growth during the quarter and an annualized adjusted return on equity of 22.4%. For the full year, the company delivered record premium growth and earnings, with an adjusted ROE of 18.3%. Looking to 2023, the company expects adjusted net income of $86 million to $90 million.
Gross written premiums increased by 59.5% to $239.1 million.
Net income reached $18.8 million, compared to $16.6 million in the fourth quarter of 2021.
The combined ratio was 75.5%, slightly up from 75.0% in the same quarter of the previous year.
Adjusted combined ratio improved to 71.4% compared to 70.7% in the fourth quarter of 2021.
Palomar Holdings
Palomar Holdings
Palomar Holdings Revenue by Segment
Palomar Holdings Revenue by Geographic Location
Revenue by Segment
Casualty Revenue
CapyFin.comFronting 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 the full year 2023, the Company expects to achieve adjusted net income of $86 million to $90 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income