Palomar Holdings, Inc. (PLMR) Stock Price & How to Invest
Last updated July 2026
Short answer
PLMR is Palomar Holdings, a fast-growing specialty property and casualty insurer best known for earthquake coverage that has expanded into casualty, crop, surety, inland marine, and fronting. Investors typically treat it as a high-growth niche underwriter story, buying shares through any standard brokerage rather than a special vehicle.
PLMR stock price
As of 2026-07-24, Palomar Holdings, Inc. (PLMR) last closed at $137.56, up 3.8% over the past year. Over the past 52 weeks it has traded between $101.42 and $145.29.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Palomar Holdings, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Palomar Holdings, Inc. (PLMR) do?
Palomar Holdings (NASDAQ: PLMR) is a specialty insurer that underwrites property and casualty risks across five product lines: Earthquake, Inland Marine and Property, Casualty, Fronting, and Crop, plus a fast-growing Surety and Credit business. It started as a residential and commercial earthquake specialist in catastrophe-exposed states like California and has since diversified into less catastrophe-correlated lines to smooth earnings. The company writes business directly and also acts as a fronting carrier, and it leans heavily on reinsurance to cap its exposure to large seismic and hurricane events.
The investment picture centers on rapid, broad-based growth paired with strong underwriting margins. Gross written premium grew about 42% year over year in Q1 2026 to roughly $630 million, with an adjusted combined ratio near 76% and adjusted return on equity around 27%, and the company has raised full-year 2026 adjusted net income guidance and authorized a share buyback. The counterweight is valuation and risk: the stock trades at a premium to many insurance peers, and a single large earthquake or a run of catastrophe losses could pressure results despite extensive reinsurance.
What's driving Palomar Holdings, Inc. (PLMR)?
1. Broad-based premium growth
Palomar has moved well beyond its earthquake roots, with casualty, crop, surety, and inland marine all contributing. Management raised 2026 crop growth expectations to roughly 35% and cited surety and credit growth of over 130% year over year, helped by acquisitions and new federal bonding opportunities. This diversification aims to reduce reliance on any single catastrophe-exposed line.
2. Strong underwriting margins
The company reported an adjusted combined ratio near 76% and adjusted return on equity around 27% in Q1 2026, both strong marks for a specialty insurer. Disciplined underwriting and niche pricing power in hard-to-place risks support these margins. Sustained sub-80% combined ratios would keep compounding book value.
3. Reinsurance and capital returns
Palomar completed its 2026 reinsurance programs, extending earthquake coverage to about $3.92 billion in limit, and raised 2026 adjusted net income guidance toward roughly $266 million to $280 million. It also approved a share buyback of about $200 million, signaling management confidence in earnings power and capital adequacy.
4. Fee income and fronting
Beyond risk-bearing premium, Palomar earns fee income from its fronting and program business, where it cedes most risk to reinsurers while keeping a slice of the economics. This capital-light layer can add earnings without proportionally increasing catastrophe exposure, and it broadens the growth runway.
What are the risks to Palomar Holdings, Inc. (PLMR)?
The largest risk is catastrophe exposure: a major California earthquake or an active hurricane season could generate outsized losses despite reinsurance. Reinsurance availability and pricing directly affect margins, and a hardening reinsurance market could compress profitability. The stock trades at a premium multiple, so any growth slowdown or underwriting miss could compress the valuation quickly. Rapid expansion into newer lines like casualty and crop introduces reserving and execution risk. Broader property and casualty pricing cycles and climate-driven loss trends add further uncertainty.
How is Palomar Holdings, Inc. (PLMR) valued? (approximate, July 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Palomar Holdings, Inc.'s investor relations page or your broker.
- Revenue (TTM): ~$1.0B
- Q1 2026 revenue: ~$279M (up ~60% YoY)
- Q1 2026 gross written premium: ~$630M (up ~42% YoY)
- 2026 adjusted net income guidance: ~$266M to $280M
- Market cap: ~$3.4B
- Forward P/E (adjusted): ~13x
Palomar has delivered roughly 14 consecutive quarterly earnings beats, with Q1 2026 adjusted EPS near $2.31 and adjusted net income around $63 million. The stock has traded roughly in the $108 to $132 range in 2026 and carries a premium multiple relative to many insurance peers, reflecting its above-average premium growth and high return on equity. Reported trailing P/E has been cited near the low double digits, while forward multiples on adjusted earnings sit modestly higher.
Who competes with Palomar Holdings, Inc. (PLMR)?
Specialty and E&S insurers
Kinsale Capital Group (KNSL), RLI Corp (RLI), and Skyward Specialty Insurance (SKWD) compete in niche excess and surplus and specialty property and casualty lines, similar to Palomar's strategy of pricing hard-to-place risks with disciplined underwriting.
Catastrophe and earthquake carriers
GeoVera, Mercury General (MCY), and other residential catastrophe writers overlap with Palomar's earthquake franchise, competing on price, coverage terms, and reinsurance-supported capacity in seismically active regions.
Diversified P&C and fronting peers
Larger diversified insurers and fronting specialists such as Global Indemnity and program carriers compete for the casualty, crop, surety, and fronting business Palomar has expanded into, where scale and reinsurance relationships matter.
How to invest in Palomar Holdings, Inc. (PLMR)
There are three common ways to get PLMR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so PLMR sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where PLMR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on Palomar Holdings, Inc. (PLMR)
Palomar is a specialty insurer compounding premiums and earnings at a rapid clip, so the debate is whether its growth and underwriting margins justify a premium valuation in a catastrophe-exposed business.
More on Palomar Holdings, Inc. (PLMR)
Whether PLMR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is PLMR a buy?, and where the stock could go from here in the PLMR stock forecast.
For income investors, whether PLMR pays a dividend and how the payout looks is covered in does PLMR pay a dividend?
Build a basket around PLMR with Walnut
Use Palomar Holdings, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What does Palomar Holdings do?
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Palomar is a specialty property and casualty insurer. It underwrites earthquake, inland marine and property, casualty, crop, surety and credit, and fronting business for residential and commercial customers, with a historical focus on catastrophe-exposed earthquake coverage.
Is PLMR profitable?
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Yes. Palomar has reported consistent profits, with Q1 2026 adjusted net income around $63 million and an adjusted combined ratio near 76%, indicating strong underwriting margins. It has raised 2026 adjusted net income guidance toward roughly $266 million to $280 million.
How fast is Palomar growing?
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Very fast for an insurer. Gross written premium grew about 42% year over year in Q1 2026 to roughly $630 million, with broad-based growth across casualty, crop, surety, and inland marine. Management raised crop growth expectations to about 35% for 2026.
What are the main risks with PLMR?
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Catastrophe exposure is the biggest risk, since a major earthquake or hurricane season could drive large losses. Reinsurance pricing, reserving on newer lines, and a premium stock valuation that leaves little room for disappointment are additional considerations.
How is PLMR valued?
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As of July 2026 Palomar's market cap is around $3.4 billion. It trades at a forward multiple of roughly 13x adjusted earnings, a premium to many insurance peers that reflects its above-average growth and high return on equity of about 27%.
Does Palomar pay a dividend?
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Palomar has historically prioritized reinvesting in growth rather than paying a dividend, and it authorized a share buyback of about $200 million in 2026. Investors should check the latest filings for any current capital return policy.
Who competes with Palomar?
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Specialty and excess and surplus insurers like Kinsale Capital, RLI Corp, and Skyward Specialty compete in overlapping niches, while earthquake and catastrophe carriers such as GeoVera and Mercury General compete in its property lines.
How can someone invest in PLMR?
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Palomar trades on the Nasdaq under the ticker PLMR, so its shares can be bought through any standard brokerage account. Walnut is not an investment adviser, and any position should fit your own goals, risk tolerance, and research.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Palomar Holdings, Inc.'s investor relations page or your broker before making investment decisions.