secwatch.observer — SEC 8-K summary
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Issuer:     Palomar Holdings, Inc. (PLMR)
CIK:        0001761312
Form:       8-K
Filed at:   2024-05-28T23:59:59+00:00
Accession:  0001437749-24-018461
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Palomar raises FY2024 adj. net income guidance to $122M-$128M; reinsurance renewal completed
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- FY2024 adjusted net income guidance raised to $122M-$128M from $113M-$118M.
- Reinsurance coverage extended to $3.06B for earthquake, $735M for Hawaii hurricane, $117.5M for continental U.S. hurricane.
- Per-occurrence retention reduced to $15.5M for hurricane (from $17.5M) and remains $20M for earthquake.
- $420M of earthquake limit sourced via new catastrophe bond Torrey Pines Re Series 2024-1, the fifth ILS sponsored.
- Reinsurance panel of 90 reinsurers/ILS investors, all A- or better or fully collateralized; $895M multi-year ILS capacity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1761312/000143774924018461/0001437749-24-018461-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1761312/000143774924018461/plmr20240528c_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-018461

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer