Palomar completes $311M acquisition of Gray Surety, closes $450M credit facility

Palomar Holdings, Inc.

Completed acquisition of The Gray Casualty & Surety Company for approx $311M in cash on Jan 31, 2026.
New $450M unsecured credit facility closed Jan 27, 2026: $150M revolver and $300M term loan maturing Jan 27, 2031.
Acquisition funded with term loan proceeds and cash on hand; facility includes $100M uncommitted incremental capacity.
Gray Surety is a national surety carrier; CEO says deal strengthens surety franchise and supports Palomar 2x strategy.

item 1.01 item 2.01 item 2.03 item 7.01 item 9.01

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