Palomar Holdings, Inc. has reported its financial results for the third quarter of 2024, posting a net income of $30.5 million, a notable increase from $18.4 million in the same quarter of 2023. The company’s gross written premiums rose 32.2% to reach $415 million, while underwriting income stood at $26.4 million, resulting in a combined ratio of 80.5%. Additionally, net investment income surged by 56% to $9.4 million, bolstered by improved investment yields. For the full year, Palomar anticipates adjusted net income between $124 million and $128 million despite facing estimated additional losses from Hurricane Milton.
