OverviewSuggest Edit

Palomar Specialty provides specialty property insurance. The company offers personal and commercial specialty property insurance products, including residential and commercial earthquake, specialty homeowners, commercial all-risk, Hawaii hurricane, residential flood, and real estate investor. 

TypePublic
Founded2014
HQSan Diego, US
Websitepalomarspecialty.com

Latest Updates

Employees (est.) (Jun 2019)65(+2%)
Revenue (FY, 2019)$113.3 M(+56%)
Share Price (Mar 2020)$55.8

Key People/Management at Palomar Specialty

Mac Armstrong

Mac Armstrong

Chief Executive Officer and Founder
Britt Morries

Britt Morries

Chief Technology Officer
Heath Fisher

Heath Fisher

Co-Founder, President
Andy Robinson

Andy Robinson

Chief Underwriting Officer
Robert E. Dowdell

Robert E. Dowdell

Director
Richard H. Taketa

Richard H. Taketa

Director
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Palomar Specialty Office Locations

Palomar Specialty has an office in San Diego
San Diego, US (HQ)
7979 Ivanhoe Ave #500, La Jolla
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Palomar Specialty Financials and Metrics

Palomar Specialty Revenue

Palomar Specialty's revenue was reported to be $113.30 m in FY, 2019
USD

Revenue (FY, 2019)

113.3m

Gross profit (FY, 2019)

107.7m

Gross profit margin (FY, 2019), %

95.1%

Net income (FY, 2019)

10.6m

Market capitalization (5-Mar-2020)

1.4b

Closing stock price (5-Mar-2020)

55.8

Cash (31-Dec-2019)

33.1m
Palomar Specialty's current market capitalization is $1.4 b.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Revenue

42.7m59.5m73.0m113.3m

Revenue growth, %

39%23%

Cost of goods sold

5.6m

Gross profit

107.7m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019

Revenue

22.3m25.9m30.5m

Cost of goods sold

316.0k643.0k2.4m

Gross profit

22.0m25.3m28.0m

Gross profit Margin, %

99%98%92%
Annual
USDFY, 2017FY, 2018FY, 2019

Cash

10.8m9.5m33.1m

Prepaid Expenses

1.3m5.9m14.9m

PP&E

827.0k947.0k845.0k

Total Assets

188.4m231.1m395.5m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019

Cash

10.5m14.4m16.5m

Prepaid Expenses

8.3m9.1m10.4m

PP&E

921.0k886.0k860.0k

Total Assets

246.2m349.4m372.8m
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Net Income

6.6m3.8m18.2m10.6m

Depreciation and Amortization

177.0k274.0k655.0k216.0k

Accounts Payable

1.8m2.2m2.7m3.3m

Cash From Operating Activities

15.8m20.2m22.8m41.7m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019

Cash From Operating Activities

2.5m16.9m35.7m

Purchases of PP&E

(27.0k)(44.0k)(72.0k)

Cash From Investing Activities

3.6m(74.2m)(91.0m)

Long-term Borrowings

(20.0m)
USDY, 2019

Revenue/Employee

1.8m

Financial Leverage

1.8 x
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Palomar Specialty Acquisitions / Subsidiaries

Company NameDateDeal Size
Palomar Insurance Holdings
Palomar Specialty Insurance Company
Palomar Specialty Reinsurance Company Bermuda

Palomar Specialty Online and Social Media Presence

Embed Graph

Palomar Specialty Blogs

Palomar Holdings, Inc. Issues Statement on Salt Lake City Earthquake of March 18th

Palomar Holdings, Inc. Issues Statement on Salt Lake City Earthquake of March 18th LA JOLLA, Calif., March 19, 2020 (GLOBE NEWSWIRE) – On March 18, 2020 a 5.7 magnitude earthquake struck Magna, Utah and the greater Salt Lake City metropolitan … Continued

Palomar Holdings, Inc. Reports Fourth Quarter & Full Year 2019 Results

Palomar Holdings, Inc. Reports Fourth Quarter & Full Year 2019 Results LA JOLLA, Calif., Feb. 18, 2020 (GLOBE NEWSWIRE) – Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or the “Company”) reported net income of $10.9 million, or $0.45 per diluted share, for … Continued

MARTHA NOTARAS JOINS THE BOARD OF DIRECTORS OF PALOMAR HOLDINGS, INC.

MARTHA NOTARAS JOINS THE BOARD OF DIRECTORS OF PALOMAR HOLDINGS, INC. La Jolla, CA, February 13, 2020 (GLOBE NEWSWIRE) – Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) today announced that Martha Notaras has been appointed by the Board of Directors … Continued

Palomar Holdings, Inc. Announces Fourth Quarter and Full Year 2019 Financial Results Release Date and Conference Call

Palomar Holdings, Inc. Announces Fourth Quarter and Full Year 2019 Financial Results Release Date and Conference Call LA JOLLA, Calif., Feb. 04, 2020 (GLOBE NEWSWIRE) – Palomar Holdings, Inc. (NASDAQ: PLMR) (‘Palomar’ or the ‘Company’) today announced that it will … Continued

Brand Update

BRAND UPDATE LA JOLLA, CA, (February 3, 2020) – Palomar Specialty Insurance Company, a leading specialty property insurance carrier today announced the release of the newly updated company branding.  The brand update comes on the heels of a successful public … Continued

PALOMAR HOLDINGS, INC. LAUNCHES PRIMARY AND SECONDARY PUBLIC OFFERING

PALOMAR HOLDINGS, INC. LAUNCHES PRIMARY AND SECONDARY PUBLIC OFFERING La Jolla, CA, January 7, 2020 – Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) today announced the underwritten public offering of 5,000,000 shares of the Company’s common stock, par value $0.0001 … Continued
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Palomar Specialty Frequently Asked Questions

  • When was Palomar Specialty founded?

    Palomar Specialty was founded in 2014.

  • Who are Palomar Specialty key executives?

    Palomar Specialty's key executives are Mac Armstrong, Britt Morries and Heath Fisher.

  • How many employees does Palomar Specialty have?

    Palomar Specialty has 65 employees.

  • What is Palomar Specialty revenue?

    Latest Palomar Specialty annual revenue is $113.3 m.

  • What is Palomar Specialty revenue per employee?

    Latest Palomar Specialty revenue per employee is $1.7 m.

  • Who are Palomar Specialty competitors?

    Competitors of Palomar Specialty include Lloyd's, Beacon Insurance Brokers and India Insure.

  • Where is Palomar Specialty headquarters?

    Palomar Specialty headquarters is located at 7979 Ivanhoe Ave #500, La Jolla, San Diego.

  • Where are Palomar Specialty offices?

    Palomar Specialty has an office in San Diego.

  • How many offices does Palomar Specialty have?

    Palomar Specialty has 1 office.