PLMR — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Our net earned premium ratio increased as premiums earned in the current period were subject to lower quota share or XOL cession percentages compared to premiums earned in the prior period. This was primarily driven by our decision to retain a higher percentage of premiums on our Crop business in 20…

• Commission and other income decreased $0.9 million to $0.8 million for the three months ended June 30, 2026 from $1.7 million for the three months ended June 30, 2025. The balance decreased due to the non-recurrence of a reimbursement arrangement that benefited us in the prior quarter.

• Six months ended June 30, 2026 compared to six months ended June 30, 2025

• The following table summarizes our results for the six months ended June 30, 2026 and 2025:

• Acquisition expenses, net of ceding commissions and fronting fees

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• The Company successfully closed a 144A catastrophe bond transaction during the second quarter of 2026.

• Our net earned premium ratio increased due to changes in our composition of business whereby premiums earned in the current period were subject to lower quota share or XOL cession percentages compared to premiums earned in the prior period.

• Commission and other income increased $0.6 million to $1.4 million for the three months ended March 31, 2026 from $0.8 million for the three months ended March 31, 2025. The balance increased due to an increase in commissions and policy related fees driven by increased premiums written.

• surplus. Based on the above restrictions, PSIC may pay a dividend or distribution of no greater than $176.0 million in 2026 without approval by the California and Oregon Insurance Commissioners.

• The timing of our cash flows from operating activities can also vary among periods due to the timing by which payments are made or received. Some of our payments and receipts, including loss settlements and subsequent reinsurance receipts, can be

Text added vs the prior filing · source: 10-Q · 2026-08-05

• We monitor our investment portfolio to ensure that credit risk does not exceed prudent levels. The majority of our investment portfolio is invested in high credit quality, investment grade fixed maturity securities. We also invest in higher yielding fixed

• maturities and equity securities. Our fixed maturity portfolio has an average rating by at least one nationally recognized rating organization of “AA−,” with approximately 71.9% rated “A−” or better. At June 30, 2026, 3.6% of our fixed maturity portfolio was unrated or rated below investment grade. …

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• We monitor our investment portfolio to ensure that credit risk does not exceed prudent levels. The majority of our investment portfolio is invested in high credit quality, investment grade fixed maturity securities. We also invest in higher yielding fixed maturities and equity securities. Our fixed …

Text added vs the prior filing · source: 10-Q · 2026-08-05

• Our reinsurance coverage currently exhausts at $3.9 billion for earthquake events and $135 million for continental U.S. hurricane events, with coverage in excess of our estimated peak zone 1 in 250 year PML event and in excess of our A.M. Best threshold. Laulima maintains Hawaii hurricane reinsuranc…

• satisfy their commitments to us, we may be unable to satisfy our policyholder liabilities which would adversely impact our results of operations and financial condition. We evaluate each reinsurance claim based on the facts of the case, historical experience with the reinsurer on similar claims and …

• Litigation, judicial and regulatory trends, such as increased litigation, higher jury awards, class action lawsuits, multi-district litigation, and evolving legal theories that may increase claim duration, defense costs and settlement values;

• Expansion into new products, acquired businesses and lines of business may result in more limited historical claims experience for certain exposures, increasing uncertainty in estimating ultimate losses and loss adjustment expenses.

• under applicable law to provide the coverage set forth in the policy despite the related premiums not being paid to us. Additionally, the loss or disruption of business from our agents and brokers or the failure or inability of these agents and brokers to successfully market our insurance products c…

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• Our reinsurance coverage currently exhausts at $3.5 billion for earthquake events and $100 million for continental U.S. hurricane events, with coverage in excess of our estimated peak zone 1 in 250 year PML event and in excess of our A.M. Best threshold. Laulima maintains Hawaii hurricane reinsuranc…

• coverage up to $735 million with a retention of $1.5 million. Our catastrophe event retention is currently $20 million for earthquake events and $11 million for hurricane events and all other perils. In addition to our event retention, we may also incur additional reinsurance expenses upon a catastr…

• Litigation, judicial and regulatory trends, such as increased litigation and higher jury awards;

• event of significant new regulation or legislation, we will attempt to quantify its impact on our business, but no assurance can be given that our attempt to quantify such inputs will be accurate or successful.

• Palomar Specialty Insurance Company (“PSIC”), Palomar Excess and Surplus Insurance Company (“PESIC”) and First Indemnity of America Insurance Co. (“FIA”), and “A-” (Excellent) (Outlook Positive) to Palomar Casualty and Surety Company (“PCSC”).