PLMR

EX-99.1

2 plmr-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Palomar Holdings, Inc. Reports First Quarter 2026 Results

LA JOLLA, Calif. (May 6, 2026) — Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $42.9 million, or $1.57 per diluted share, for the first quarter of 2026 compared to net income of $42.9 million, or $1.57 per diluted share, for the first quarter of 2025. Adjusted net income(1) was $63.1 million, or $2.31 per diluted share, for the first quarter of 2026 as compared to $51.3 million, or $1.87 per diluted share, for the first quarter of 2025.

First Quarter 2026 Highlights

• Gross written premiums increased by 42.4% to $629.8 million compared to $442.2 million in the first quarter of 2025

• Net income increased 0.1% and was $42.9 million in both quarters

• Adjusted net income(1) increased 23.1% to $63.1 million compared to $51.3 million in the first quarter of 2025

• Total loss ratio of 33.3% compared to 23.6% in the first quarter of 2025

• Catastrophe loss ratio(1) of 0.1% compared to (0.3)% in the first quarter of 2025

• Combined ratio of 84.5% compared to 73.1% in the first quarter of 2025

• Adjusted combined ratio(1) of 76.0% compared to 68.5%, in the first quarter of 2025

• Annualized return on equity of 18.1% compared to 22.6% in the first quarter of 2025

• Annualized adjusted return on equity(1) of 26.6% compared to 27.0% in the first quarter of 2025

(1) See discussion of “Non-GAAP and Key Performance Indicators” below.

Mac Armstrong, Chairman and Chief Executive Officer, commented, “The first quarter was another demonstration of our sustained profitable growth. Our unique, ‘one of one’ specialty products portfolio is purposely built to generate consistent earnings and compelling margins in any market cycle. The combination of Palomar’s mix of personal and commercial lines products written on both an admitted and excess and surplus basis, and strong growth from our Crop and Surety franchises made for a great start to the year.”

Mr. Armstrong continued, “Importantly, our growth wasn’t limited to one product set. In fact, we grew across all five categories, including Earthquake, this quarter. I’m happy to share that our profits and capital efficiency stayed strong in the first quarter, with an adjusted combined ratio of 76% and an adjusted return on equity of 27%.”

Underwriting Results

Gross written premiums increased 42.4% to $629.8 million compared to $442.2 million in the first quarter of 2025, while net earned premiums increased 59.3% compared to the prior year’s first quarter.

Losses and loss adjustment expenses for the first quarter were $87.1 million, comprised of $86.8 million of attritional losses and $0.3 million of catastrophe losses. The loss ratio for the quarter was 33.3%, comprised of an attritional loss ratio of 33.2% and a catastrophe loss ratio(1) of 0.1% compared to a loss ratio of 23.6% during the same period last year comprised of an attritional loss ratio of 23.9% and a catastrophe loss ratio(1) of (0.3)%. Additionally, our first quarter results include $7.6 million of attritional and $2.7 million of catastrophe loss favorable prior year development, 2.9 points and 1.0 point of loss ratio favorability respectively, primarily from our short tail Inland Marine and Property business.

Underwriting income(1) for the first quarter was $40.5 million resulting in a combined ratio of 84.5% compared to underwriting income of $44.1 million resulting in a combined ratio of 73.1% during the same period last year. The Company’s adjusted underwriting income(1) was $62.8 million, an increase of 21.6%, resulting in an adjusted combined ratio(1) of 76.0% in the first quarter compared to adjusted underwriting income(1) of $51.6 million and an adjusted combined ratio(1) of 68.5% during the same period last year. The Company’s adjusted combined ratio excluding catastrophe losses(1) was 75.9% compared to 68.9% during the same period last year.

Investment Results

Net investment income increased by 49.0% to $18.0 million compared to $12.1 million in the prior year’s first quarter. The increase was primarily due to higher yields on invested assets and a higher average balance of investments held during the three months ended March 31, 2026 due to cash generated from operations. The weighted average duration of the fixed-maturity investment portfolio, including cash equivalents, was 4.21 years at March 31, 2026. Cash and invested assets totaled $1.6 billion at March 31, 2026. During the first quarter, the Company recorded $1.9 million net realized and unrealized losses related to its investment portfolio as compared to net realized and unrealized losses of $2.3 million during the same period last year.

1

Tax Rate

The effective tax rate for the three months ended March 31, 2026 was 19.7% compared to 20.1% for the three months ended March 31, 2025. For the current quarter, the Company’s income tax rate differed from the statutory ra

8-K

0001761312false00017613122026-02-112026-02-11

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 11, 2026

Palomar Holdings, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware

001-38873

83-3972551

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

7979 Ivanhoe Avenue, Suite 500

La Jolla, California

92037

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 619 567-5290

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

PLMR

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On February 11, 2026, Palomar Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended December 31, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

The information contained under this Item 2.02, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, regardless of any general incorporation language in any such filing, unless the Company expressly sets forth in such filing that such information is to be considered “filed” or incorporated by reference therein. Item 9.01 Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Press Release, dated February 11, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PALOMAR HOLDINGS, INC.

Date:

February 11, 2026

By:

/s/ T. Christopher Uchida

T. Christopher Uchida Chief Financial Officer (Principal Financial and Accounting Officer)

8-K

0001761312false00017613122025-11-062025-11-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 06, 2025

Palomar Holdings, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware

001-38873

83-3972551

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

7979 Ivanhoe Avenue, Suite 500

La Jolla, California

92037

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 619 567-5290

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

PLMR

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On November 6, 2025, Palomar Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended September 30, 2025. A copy of the press release is attached hereto as Exhibit 99.1.

The information contained under this Item 2.02, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or under the Exchange Act, regardless of any general incorporation language in any such filing, unless the Company expressly sets forth in such filing that such information is to be considered “filed” or incorporated by reference therein. Item 9.01 Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Press Release, dated November 6, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PALOMAR HOLDINGS, INC.

Date:

November 6, 2025

By:

/s/ T. Christopher Uchida

T. Christopher Uchida Chief Financial Officer (Principal Financial and Accounting Officer)