Sector: Financials | Industry: Property & Casualty Insurance |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 7979 Ivanhoe Ave Ste 500, La Jolla LA JOLLA CA 92037-4513 |
Tel: | N/A |
Website: | https://plmr.com |
IR: | See website |
Key People | ||
Mac Armstrong Chairman of the Board, Chief Executive Officer | Jon Christianson President | T. Christophe Uchida Chief Financial Officer |
Michelle Johnson Chief People and Productivity Officer | Jonathan Knutzen Chief Risk Officer | Angela Grant Chief Legal Officer and Corporate Secretary |
Business Overview |
Palomar Holdings, Inc. is an insurance holding company. The Company provides property and casualty insurance products to individuals and businesses. The Company's primary lines of business include Residential and Commercial Earthquake, Fronting, Inland Marine, and Casualty. It distributes its products through multiple channels, including retail agents, program administrators, wholesale brokers, and partnerships with other insurance companies. It offers Residential Earthquake products on an admitted and excess and surplus lines (E&S) basis. Its products insure against damage to the home, contents and any appurtenant structures, and reimburse for temporary housing costs in the event of an earthquake. Its Commercial Earthquake products focused on providing coverage for benign commercial risks. Its Inland Marine products include builder's risk, contractor's equipment, mobile equipment, motor truck cargo, miscellaneous floaters, installation floaters, and special property floaters. |
Financial Overview |
For the fiscal year ended 31 December 2023, Palomar Holdings Inc revenues increased 15% to $375.9M. Net income increased 52% to $79.2M. Revenues reflect Fronting Premiums segment increase of 63% to $364.3M, Commercial Earthquake segment increase of 39% to $183.4M. Basic Earnings per Share excluding Extraordinary Items increased from $2.07 to $3.19. |
Employees: | 213 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $1,903M as of Dec 31, 2023 |
Annual revenue (TTM): | $375.93M as of Dec 31, 2023 |
EBITDA (TTM): | $216.66M as of Dec 31, 2023 |
Net annual income (TTM): | $79.20M as of Dec 31, 2023 |
Free cash flow (TTM): | $103.81M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $1.05M as of Dec 31, 2023 |
Shares outstanding: | 24,921,060 as of Apr 2, 2024 |
Index Membership: | S&P 600 Small Cap |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |