Palomar agrees to buy surety carrier The Gray Casualty & Surety Company for $300 million
Palomar Holdings agreed on October 27, 2025 to buy all equity of The Gray Casualty & Surety Company, a contract surety insurer, for $300 million in cash, subject to customary adjustments. The deal is expected to close in the first half of 2026, subject to regulatory approvals and other closing conditions, and Palomar says it strengthens its surety business.
Key points
- Purchase price of $300 million in cash, subject to customary closing adjustments
- Expected to close in the first half of 2026, pending HSR and other regulatory approvals
- Agreement can be terminated if closing has not occurred by March 27, 2026, extendable to May 27, 2026
- Gray Surety is licensed in 50 states and operates 13 regional offices
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:01 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 30, 2025.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.