Palomar Holdings, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 14, 2024 at 09:15 pm
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Palomar Holdings, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 105.39 million compared to USD 88.63 million a year ago. Net income was USD 25.89 million compared to USD 18.76 million a year ago. Basic earnings per share from continuing operations was USD 1.05 compared to USD 0.74 a year ago. Diluted earnings per share from continuing operations was USD 1.02 compared to USD 0.73 a year ago.
For the full year, revenue was USD 375.93 million compared to USD 327.09 million a year ago. Net income was USD 79.2 million compared to USD 52.17 million a year ago. Basic earnings per share from continuing operations was USD 3.19 compared to USD 2.07 a year ago. Diluted earnings per share from continuing operations was USD 3.13 compared to USD 2.02 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. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
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PALOMAR HOLDINGS, INC. 
