Palomar Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:15 pm
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Palomar Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 90.4 million compared to USD 79.66 million a year ago. Net income was USD 17.56 million compared to USD 14.59 million a year ago. Basic earnings per share from continuing operations was USD 0.71 compared to USD 0.58 a year ago. Diluted earnings per share from continuing operations was USD 0.69 compared to USD 0.57 a year ago.
For the six months, revenue was USD 179.6 million compared to USD 157.77 million a year ago. Net income was USD 34.87 million compared to USD 29.13 million a year ago. Basic earnings per share from continuing operations was USD 1.4 compared to USD 1.15 a year ago. Diluted earnings per share from continuing operations was USD 1.37 compared to USD 1.13 a year ago.
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 builderâs risk, contractorâs equipment, mobile equipment, motor truck cargo, miscellaneous floaters, installation floaters, and special property floaters.
PALOMAR HOLDINGS, INC. 
