Palomar

Palomar hires former HDI Global casualty exec Sapia

Palomar Holdings has added David Sapia as executive vice president after E&S Insurer revealed in July that the executive had left HDI Global after less than three years.

Palomar’s A- FSR outlook revised to positive by AM Best

Palomar has had the outlook on its A- financial strength rating revised to positive from stable by AM Best in a move which the agency said reflects the carrier’s “very strong” balance sheet strength and its recent profitable operating performance.

Palomar CR ticks up to 77.9% on higher cat losses as GPW spikes

Increased catastrophe losses nudged Palomar Holdings’ Q1 2023 combined ratio up by 1.4 points to 77.9 percent while the La Jolla, California-based carrier’s gross premiums written (GPW) soared 46.3 percent to $250.1mn.

Palomar’s fronting unit agrees multi-year deal with MGA Advanced AgProtection

Palomar Holdings’ fronting carrier has entered the $20bn US crop insurance market after agreeing a multi-year tie-up with specialist managing general agent Advanced AgProtection.

Palomar CEO: E&S market seeing “reinvigoration” of hardening in Q4

There is currently a “reinvigoration” of hardening within the excess and surplus (E&S) lines market as pricing continues to rise even further quarter over quarter, according to Palomar CEO Mac Armstrong.

Palomar partners with Pure Programs on complex construction project offering

Palomar Holdings is looking to grow its recently established E&S carrier platform with a new partnership to provide capacity to Pure Programs to offer owners of high-value homes undergoing complex construction projects an insurance and risk management solution.

Palomar GWP rises 44% in Q1 with E&S fuelled expansion

Palomar’s new E&S carrier ended 2021’s first quarter with annualized gross written premium (GWP) approaching $100mn and accounting for 23 percent of the insurer’s overall GWP, while the business also added $25mn of aggregate excess of loss protection in the period.

Palomar begins underwriting on new E&S platform

Palomar Specialty has already begun underwriting policies on its new E&S platform as it initially focuses on taking its existing property products into new geographies and targeting larger shared and layered risks, according to CEO Mac Armstrong.

Palomar to raise up to $94mn in latest offering as it targets E&S market

Palomar is looking to raise $94.3mn from its latest public offering with the company set to use some of the proceeds generated to add to the $50mn the carrier has already set aside to capitalise its newly formed excess and surplus lines business.

Palomar unveils platform to broaden offering into booming E&S market

Specialty insurer Palomar Holdings is making a move into the rapidly expanding E&S market with the launch of Palomar Excess and Surplus Insurance Company (PESIC) to begin writing business during the second half of this year.