LA JOLLA, Calif., Oct. 20, 2022 (GLOBE NEWSWIRE) — Palomar Holdings, Inc. (NASDAQ: PLMR) (“Palomar”) as we speak introduced estimated pretax disaster losses of $12.5 million, internet of reinsurance, for the third quarter of 2022. This anticipates a full retention lack of $12.5 million from Hurricane Ian. The losses from Hurricane Ian additionally end in further ceded reinsurance premium of $3.1 million, with $1.3 million acknowledged within the third quarter of 2022 and the remaining $1.8 million acknowledged ratably from October 1, 2022 to May 31, 2023.
Palomar’s monetary closing and evaluation procedures for the fiscal quarter will not be but full. Palomar’s loss estimates are topic to alter because of the complexity of the claims and preliminary nature of the data obtainable to organize the estimates. Updated disaster loss estimates can be mirrored in Palomar’s third quarter 2022 outcomes.
In addition, Palomar will launch its third quarter 2022 outcomes after the market shut on Wednesday, November 2, 2022, and can host a convention name at 12:00 p.m. (Eastern Time) the next day, Thursday, November 3, 2022.
The convention name might be accessed stay by dialing 1-877-423-9813 or for worldwide callers, 1-201-689-8573, and requesting to be joined to the Palomar Third Quarter 2022 Earnings Conference Call. A replay can be obtainable beginning at 3:00 p.m. (Eastern Time) on November 3, 2022, and might be accessed by dialing 1-844-512-2921, or for worldwide callers, 1-412-317-6671. The passcode for the replay is 13732950. The replay can be obtainable till 11:59 p.m. (Eastern Time) on November 10, 2022.
Interested buyers and different events can also take heed to a simultaneous webcast of the convention name by logging onto the investor relations part of the Palomar’s web site at https://ir.palomarspecialty.com/. The on-line replay will stay obtainable for a restricted time starting instantly following the decision.
About Palomar Holdings, Inc.
Palomar Holdings, Inc. is the holding firm of subsidiaries Palomar Specialty Insurance Company (“PSIC”), Palomar Specialty Reinsurance Company Bermuda Ltd., Palomar Insurance Agency, Inc. and Palomar Excess and Surplus Insurance Company (“PESIC”). Palomar is an progressive insurer serving residential and industrial purchasers in specialty markets together with the marketplace for earthquake insurance. Palomar’s insurance subsidiaries, Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., and Palomar Excess and Surplus Insurance Company, have a monetary power ranking of “A-” (Excellent) from A.M. Best.
To be taught extra, go to PLMR.com
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Contact
Media Inquiries
Lindsay Conner
1-551-206-6217
[email protected]
Investor Relations
Jamie Lillis
1-203-428-3223
[email protected]
Source: Palomar Holdings, Inc.
