Palomar (NASDAQ:PLMR) (NASDAQ: PLMR) is a specialty insurance and reinsurance holding company that focuses on underwriting property and casualty coverages across niche markets. Through its three wholly owned insurance subsidiaries—Palomar Excess and Surplus Insurance Company, Palomar Specialty Insurance Company, and Palomar Specialty Reinsurance Company—the firm provides tailored risk solutions to retail agents, wholesale brokers, and program administrators. Its product portfolio includes professional and management liability, construction, environmental, and cyber insurance, as well as other specialty risks such as directors and officers, employment practices, and small business commercial lines.
The company leverages a decentralized distribution model, partnering with program managers and managing general agents to tap into specialized industry expertise and underwriting talent. By blending admitted and excess & surplus (E&S) insurance platforms, Palomar is able to offer both standard and nonstandard policy forms, delivering flexibility for unique and hard-to-place risks. In addition, the firm has developed an advanced digital infrastructure, including its Bold Penguin technology platform, to streamline quotes, bind policies, and enhance data analytics for small business insurance markets.
Founded in 2014 and headquartered in San Diego, California, Palomar has grown through a combination of organic underwriting expansion and strategic acquisitions. The company’s geographic footprint covers all 50 states, supported by regional offices and a network of program administrators nationwide. Over the years, Palomar has bolstered its specialty lines capabilities by acquiring niche entities and technology assets, reinforcing its commitment to underwriting discipline and market responsiveness.
Under the leadership of President and Chief Executive Officer Philip Kavanaugh, Palomar has cultivated a culture of collaboration between underwriters, distribution partners, and technology teams. The senior management team combines decades of insurance industry experience, prioritizing disciplined growth and risk management. Looking ahead, Palomar aims to deepen its specialty offerings and expand its digital distribution channels to meet the evolving needs of both retail and wholesale insurance markets.
