Palomar Holdings, Inc. (PLMR) FY2025 10-K Annual Report
Palomar Holdings, Inc. (PLMR) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Palomar Holdings, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Property and casualty insurance holding company with subsidiaries underwriting admitted and surplus lines policies across 50 states
- • New segment: Added Laulima Exchange, a Hawaii domiciled reciprocal exchange formed in 2023, managed as a variable interest entity
Management Discussion & Analysis
- • Revenue $2.03B gross written premiums, up 31.5% YoY from $1.54B in 2024, driven by increases in Casualty (+130.5%, +$307M) and Crop (+113.0%, +$131M)
- • Net income $197.1M, up 67.6% YoY; operating margin (underwriting combined ratio) improved to 76.9% vs 78.1%
Risk Factors
- • Regulatory risk: Potential changes in California insurance regulations limiting pricing and underwriting, impacting Palomar’s capital and underwriting ability
- • Macroeconomic threat: Economic downturn, inflation, or unemployment adversely affecting insurance demand, crop prices, and investment returns
Palomar Holdings, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$876M
▲ +58.2% YoY
Net Income
$197M
▲ +67.6% YoY
Net Margin
22.5%
▲ +127bp YoY
ROE
20.9%
▲ +478bp YoY
Total Assets
$3.1B
▲ +34.9% YoY
EPS (Diluted)
$7.17
▲ +60.0% YoY
Operating Cash Flow
$409M
▲ +56.7% YoY
Source: XBRL data from Palomar Holdings, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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