PLMR Palomar Holdings, Inc
Price Chart
Executive Summary
Palomar Holdings announced the successful completion of its June 1, 2026 reinsurance renewal, securing $421M of incremental limit for its Earthquake franchise and increasing its full-year 2026 adjusted net income guidance to $266M-$280M (from $262M-$278M). The company maintained event retentions at $11M (hurricane) and $20M (earthquake) despite earnings and exposure growth, while expanding its ILS capacity through a seventh Torrey Pines Re catastrophe bond. This is a credit-positive operational update for an insurance carrier, demonstrating strong capital management and earnings stability.
Actionable Insight
The raised guidance and unchanged retentions signal confidence in underwriting profitability and catastrophe risk management. Monitor Q2 2026 earnings for evidence of premium growth acceleration from the expanded reinsurance tower. The successful ILS issuance at favorable pricing suggests continued access to low-cost collateralized capital.
Key Facts
- Palomar procured ~$421M of incremental limit for its Earthquake franchise, extending earthquake coverage to $3.92B and continental US hurricane coverage to $135M.
- Per-occurrence event retentions unchanged at $11M (hurricane) and $20M (earthquake), within management's guideposts of less than one quarter's adjusted net income and less than 5% of stockholders' equity.
- Full-year 2026 adjusted net income guidance raised to $266M-$280M from $262M-$278M.
- Seventh Torrey Pines Re catastrophe bond issued for $410M of protection, bringing total multi-year ILS capacity to $1.28B.
- Laulima Exchange's Hawaii hurricane program renewed with up to $865M of per-occurrence coverage, a $130M YoY increase, including $50M via Torrey Pines Re.
- Reinsurance panel includes over 100 reinsurers and ILS investors, all with 'A-' or better ratings or fully collateralized.
Financial Impact
Guidance increase of $4M-$2M on adjusted net income (midpoint +1.5%); $421M incremental reinsurance limit supports continued premium growth without increasing event retention.
Risk Factors
- Catastrophe loss frequency/severity could still exceed reinsurance limits despite expanded coverage.
- Guidance increase is modest ($4M at midpoint) and may not fully offset potential adverse development.
- Dependence on ILS market conditions for future capacity; a dislocation could raise reinsurance costs.
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3303576 |
Track record builds as more directional reports settle.
Filters
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May 29, 2026
14d ago
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8-K
| $107.04 $101.42 | ▼ −5.25% | ▼ −4.96% | $114.85 (+7.30%) |
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May 29, 2026
14d ago
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Press Release
| $107.04 $101.42 | ▼ −5.25% | ▼ −4.96% | $114.85 (+7.30%) |
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May 27, 2026
16d ago
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Press Release
| $109.63 $101.42 | ▼ −7.49% | ▼ −7.44% | $114.85 (+4.76%) |
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May 26, 2026
17d ago
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8-K
| $109.45 $101.42 | ▼ −7.34% | ▼ −7.81% | $114.85 (+4.93%) |
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May 26, 2026
17d ago
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3
| $114.51 $107.24 | ▼ −6.35% | ▼ −7.43% | $114.85 (+0.30%) |
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May 22, 2026
21d ago
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Insider Cluster
| $114.51 $107.24 | ▼ −6.35% | ▼ −7.43% | $114.85 (+0.30%) |
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May 22, 2026
21d ago
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Insider Cluster
| $114.51 $104.68 | ▼ −8.58% | ▼ −9.80% | $114.85 (+0.30%) |
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Apr 15, 2026
8w ago
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Insider Cluster
| $130.03 $129.04 | ▲ +0.76% | ▲ +2.40% | $114.85 (+11.67%) |
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Apr 10, 2026
9w ago
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DEFA14A
| $128.38 $132.41 | ▲ +3.14% | ▼ −0.16% | $114.85 (−10.54%) |
US Market Status
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