Palomar Holdings Q3 net income rises to $30.5 million; gross premiums up 32.2%
Palomar Holdings reported third quarter 2024 net income of $30.5 million, or $1.15 per diluted share, up from $18.4 million, or $0.73, a year earlier. Gross written premiums rose 32.2% to $415.0 million, and the company expects full-year 2024 adjusted net income of $124 million to $128 million, which includes about $8 million of Hurricane Milton losses expected in the fourth quarter.
Key points
- Q3 2024 net income $30.5 million ($1.15 per diluted share) vs. $18.4 million ($0.73) in Q3 2023
- Q3 2024 adjusted net income $32.4 million ($1.23 per diluted share), up 39.3% from $23.3 million
- Q3 2024 catastrophe losses of $12.9 million from Hurricanes Beryl, Debby, and Helene; combined ratio 80.5% vs. 75.8%
- Full-year 2024 adjusted net income outlook of $124 million to $128 million
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 November 04, 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.