Palomar (PLMR) investor relations material

Growth and profitability

• Achieved gross written premium of $629.8M in Q1 2026, representing 42% year-over-year growth.

• Adjusted net income reached $63.1M in Q1 2026, up 23% year-over-year, with an adjusted ROE of 27%.

• Raised full-year adjusted net income guidance to $262M–$278M, implying 25% growth at the midpoint.

• 14 consecutive quarters of beating consensus EPS, demonstrating consistent outperformance.

• Closed the acquisition of Gray Surety, adding scale and earnings.

Portfolio and business mix

• Maintains a balanced mix of admitted (63%) and E&S (37%), with commercial (55%) and residential (45%) lines.

• Earthquake remains the anchor, with diversification into casualty, inland marine, property, crop, and surety.

• Portfolio structure: property (48%), casualty (33%), crop (14%), surety (5%).

• Diversified portfolio enhances resilience and supports consistent profitability.

Risk management and reinsurance

• Employs a comprehensive risk transfer strategy, including facultative, quota share, excess of loss, and catastrophe bonds.

• Completed six reinsurance placements in Q1 2026, all at improved economics.

• Issued a $410M cat bond, including a first-time Hawaii Hurricane tranche.

• Conservative reserving philosophy with 84% of casualty reserves as IBNR; casualty reserves are less than 20% of equity.