Palomar Publishes Inaugural Sustainability & Citizenship Report

Company announces commitment to allocate up to $10 million with majority Black-owned Broadway Federal Bank

LA JOLLA, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”), has released its first annual Sustainability & Citizenship Report. This inaugural report is part of Palomar’s commitment to exceeding traditional Environmental, Social Responsibility, and Governance (ESG) standards, and outlines meaningful steps the Company has taken to address a range of issues, including climate change and economic and social justice, while continuing to build a compassionate workplace.

“Palomar’s mission is to support our team members and our insureds while strengthening our local communities. This drive affects every decision we make about how and why we work,” commented Mac Armstrong, Palomar’s Chairman and Chief Executive Officer. “We strive to build a workplace grounded in ethical behavior, compassion, and equality. I’m proud of the strides we have made toward creating economic opportunities, responding to climate change and promoting social justice, all while rapidly adjusting to the challenges posed by the COVID-19 pandemic. I look forward to reporting on our progress towards these goals on an annual basis.”

Highlights from the 2020 Report:

• Launched the newly appointed ESG committee of the Company’s board of directors to reinforce the Company’s reputation as a forward thinking employer and partner;
• Created the Palomar DICE Council (Diversity, Inclusion, Community Engagement and Equality), a team member-led effort that advises management on diversity and inclusion initiatives and best practices;
• Made continual gains in workforce and board diversity (fifty percent of the Company’s board of directors are women or members of underrepresented communities);
• Made financial contributions to the Center for Policing Equity, the nation’s top non-profit addressing racial inequities in policing and law enforcement;
• Committed to following the Ten Principles of the UN’s Global Compact—a move usually undertaken by much larger organizations;
• Eliminated the use of disposable plastic water bottles at corporate headquarters.

Along with outlining goals and achievements in these areas, the Sustainability and Citizenship Report also details how the Company has addressed employee mental health amid the COVID-19 pandemic and the social unrest that has occurred across the country this year.