Major Rating Factors:
Poor long-term capitalization index (0.9 on a scale of 0 to 10) based on weak current risk adjusted capital (severe and moderate loss scenarios). Vulnerable liquidity (1.7) as a spike in claims may stretch capacity. Fair overall results on stability tests (4.3) including weak risk adjusted capital in prior years and weak results on operational trends. The largest net exposure for one risk is conservative at 1.4% of capital.
Other Rating Factors:
Good overall profitability index (5.5) despite operating losses during 2019. Return on equity has been good over the last five years, averaging 12.6%. History of adequate reserve strength (6.9) as reserves have been consistently at an acceptable level.
Stability Factors:
C - Past results on our Risk-Adjusted Capital tests.
T - Significant trends in critical asset, liability, income or expense items.
Principal Lines of Business:
Work comp (19.3%), homeowners (7.5%), fire (6.3%), personal/comm auto (1.3%), comm multi (0.6%), other (65.0%)
Licensed in:
All states except DC, MA, ME, NH, NY, VT, WV
Principal Investments:
Investment grade bonds (73.5%), common stock (20.6%), cash (4.5%), non investment grade bonds (1.1%), other (0.3%)
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
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