Major Rating Factors:
Poor long-term capitalization index (1.0 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Fair liquidity (4.5) as cash resources may not be adequate to cover a spike in claims. Fair overall results on stability tests (3.7) including weak risk adjusted capital in prior years and weak results on operational trends. The largest net exposure for one risk is acceptable at 2.8% of capital.
Other Rating Factors:
History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level. Excellent profitability index (9.0) with operating gains in each of the last five years. Return on equity has been excellent over the last five years averaging 20.1%.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
G - Fast asset or premium growth.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (10.8%), homeowners (7.8%), fire (1.8%), personal/comm auto (1.5%), comm multi (1.0%), product liab. (0.3%), other (76.7%)
Licensed in:
All states except DC
Principal Investments:
Investment grade bonds (77.1%), common stock (16.6%), cash (3.8%), non investment grade bonds (0.8%), other (1.8%)
Corporate Info
Group Affiliation
Palomar Holdings Inc
Investment Rating
Company Address
7979 Ivanhoe Avenue
La Jolla, CA 92037
La Jolla, CA 92037
Phone Number
(619) 567-5290
NAIC Number
20338
Website
Largest Affiliates