Palomar Q3 net income $0.2M, premiums +48%; guides Q4 adj net $17-18.5M

Palomar Holdings, Inc.

2021-Q3 EPS reported $1.12 revenue$174,620,000

Net income $0.2M ($0.01 diluted EPS) vs loss $15.7M ($0.62 loss) in Q3 2020.
Gross written premiums up 47.9% to $152.3M; net earned premiums up 54%.
Catastrophe loss ratio improved to 27.0% from 86.9%; combined ratio 102.8% (vs 157.1%).
Q4 2021 guidance: adjusted net income $17.0M-$18.5M excluding catastrophe losses.
Launched PLMR-FRONT fronting initiative; $15.8M in share repurchases YTD.

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