Palomar Holdings, Inc. for the successful completion of some California earthquake reinsurance programs

Palomar Holdings, Inc

LA JOLLA, Calif., Jan. 3, 2023 (GLOBE NEWSWIRE) — Palomar Holdings, Inc. (NASDAQ: PLMR) (“Palomar” or the “Company”) today announced the successful completion of certain reinsurance programs covering California earthquake risks.

The Company renewed the California Commercial Earthquake Lot program, increased the waiver percentage, and secured an additional Earthquake Loss Limit (“XOL”). In all, Palomar has secured approximately $50 million of additional limit to take advantage of the opportunities it sees in the residential and commercial earthquake insurance markets.

“In the face of what is considered a challenging reinsurance market, we are pleased to not only successfully renew California’s commercial earthquake quota share program, but also to purchase an additional reinsurance limit to support our earthquake lines,” commented MacArmstrong, Palomar Chairman and CEO. officer. “We have strategically increased the amount of our commercial earthquake share waiver in California to provide flexibility in how we participate in the commercial earthquake market, as well as to take advantage of the dislocation in the broader earthquake market. We appreciate the support of our reinsurance team and believe that our individual lines of business are fraught with risk remains attractive to this group of reinsurers and to the broader market.

About Palomar Holdings, Inc. is the holding company for subsidiaries of Palomar Specialty Insurance Company (“PSIC”) and Palomar Specialty Reinsurance Company Bermuda Ltd. and Palomar Insurance Agency, Inc. and Palomar Excess and Excess Insurance Company (“PESIC”). Palomar is an innovative insurance company serving residential and commercial clients in specialty markets including the earthquake insurance market. Palomar’s insurers, Palomar Specialty Insurance Company, Palomar Specialized Reinsurance of Bermuda Limited, and Palomar Excess and Excess Insurance Company, have a financial strength rating of “A-” (excellent) from AM Best.

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To learn more, visit PLMR.com.

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Safe Harbor Statement Palomar warns you that statements in this press release may be considered matters that are not historical facts but forward-looking statements. These statements are based on the Company’s current beliefs and expectations. The inclusion of forward-looking statements should not be taken as a representation by Palomar that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business. Forward-looking statements are typically, but not always, identified by the use of the words “believe,” “expect,” “enable,” “may,” “will,” “could,” “intend,” “estimate,” “anticipate,” “Plan”, “expect”, “potential”, “likely”, “possible”, “should”, “communicate”, and other words with the same meaning. Actual results could differ materially from expectations expressed in forward-looking statements as a result of several factors, including unexpected expenses and costs, unexpected results or delays in development and regulatory review, regulatory approval requirements, and the frequency and severity of adverse and competitive events. Terms. These and other factors that may lead to discrepancies are discussed in more detail in the Company’s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update such statements to reflect events occurring or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which was made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Media inquiries Lindsay [email protected]

Investor Relations Jamie [email protected]

Source: Palomar Holdings, Inc.

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