Palomar raises 2024 adjusted net income guidance as Q2 net income hits $25.7 million
Palomar Holdings reported second quarter 2024 net income of $25.7 million, or $1.00 per diluted share, up from $17.6 million, or $0.69, a year earlier, with gross written premiums up 40.4% to $385.2 million. The company raised its full-year 2024 adjusted net income guidance to $124 million to $130 million, which includes catastrophe losses from Hurricanes Beryl and Debby. For shareholders, the filing shows higher profit and a higher outlook for the year.
Key points
- Q2 2024 net income was $25.7 million, or $1.00 per diluted share, versus $17.6 million, or $0.69, in Q2 2023.
- Adjusted net income was $32.0 million, or $1.25 per diluted share, versus $21.8 million, or $0.86, in Q2 2023.
- Full-year 2024 adjusted net income guidance is now $124 million to $130 million.
- Gross written premiums rose 40.4% to $385.2 million; the combined ratio was 79.1%, compared with 79.0% a year earlier.
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 August 05, 2024.
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.