Palomar boosts earthquake reinsurance to $3.92B, raises 2026 net income guidance
Summary
Palomar completed its June 1 reinsurance program, expanding earthquake coverage to $3.92 billion, including $360 million from a new catastrophe bond. The company also raised its full-year 2026 adjusted net income guidance to $266 million–$280 million, up from $262 million–$278 million, citing attractive reinsurance economics. This follows an 8-K filed earlier today, with the news providing specific financial details. The increased reinsurance capacity is critical for an insurer to manage risk and support growth, while the raised guidance signals improved profitability.
At the time of this announcement, PLMR was trading at $109.63 on NASDAQ in the Finance sector, with a market capitalization of approximately $2.9B. The 52-week trading range was $107.51 to $175.85. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.