B
PALOMAR EXCESS & SURPLUS INS
EdinaIL
Rating Date
December 2023
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Loss
Ratio
Total
Assets
Capital
Net
Premiums
Net
Income
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Major Rating Factors: Good overall results on stability tests (5.0 on a scale of 0 to 10) despite weak results on operational trends and lack of operational experience. Strong long-term capitalization index (10.0) based on excellent current risk adjusted capital (severe and moderate loss scenarios), despite some fluctuation in capital levels.
Other Rating Factors: Excellent liquidity (7.0) with ample operational cash flow and liquid investments. Fair profitability index (3.9) with operating losses during 2020 and 2022.
Stability Factors: E - Lack of operating experience. T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business: Fire (5.2%), personal/comm auto (0.2%), other (94.6%)
Licensed in: --
Principal Investments: Investment grade bonds (98.0%), cash (0.8%), non investment grade bonds (0.6%), other (0.5%)
Ratios
Premium to Surplus
Reserve to Surplus
1-Year Reserve Development
2-Year Reserve Development
Expense Ratio
--
Combined Ratio
--
Cash From Underwriting
--
Net Premium Growth
Investments in Affiliates
Corporate Info
Group Affiliation
Palomar Holdings Inc
Investment Rating
Company Address
Ct Corporation System 3800 Nor
Phoenix, AZ 85012
Phone Number
(619) 369-0778
NAIC Number
16754
Largest Affiliates
D
Portland, OR - P&C
Weiss Ratings