Palomar Holdings, Inc. Announces Two Year, $40 Million Share Repurchase Program - Seite 2

^{(1) Adjusted net income is a non-GAAP financial measure which has historically excluded the impact of stock-based compensation and certain charges and transactions that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. Palomar calculates the tax impact only on adjustments which would be included in calculating the Company’s income tax expense using the estimated tax rate at which the company received a deduction for these adjustments. The Company will provide a reconciliation of 2021 adjusted net income to net income calculated in accordance with GAAP and the specific items excluded based upon its actual 2021 results.}

About Palomar Holdings, Inc.

Palomar Holdings, Inc. is the holding company of subsidiaries Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., Palomar Insurance Agency, Inc. and Palomar Excess and Surplus Insurance Company. Palomar is an innovative insurer that focuses on the provision of specialty insurance for residential and commercial clients. Palomar’s underwriting and analytical expertise allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, hurricane and flood insurance. Palomar’s principal insurance subsidiary, Palomar Specialty Insurance Company, is an admitted carrier in 32 states and has an A.M. Best financial strength rating of “A-” (Excellent).

To learn more, visit PLMR.com.

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CONTACT:

Media Inquiries
Sarah Flocken
1-240-630-0316
[e-mail]

Investor Relations
Shannon Devine
1-619-771-1743
[e-mail]

Forward-Looking Statements

Palomar cautions you that statements included in this news release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Palomar’s results to differ materially from historical results or those expressed or implied by such forward-looking statements. Forward-looking statements include, but are not limited to, statements about Palomar’s intention to repurchase shares of its common stock, including the amount and timing of its stock repurchase program. The following important factors, among others, could cause actual results to differ materially from those set forth in the forward looking statements: uncertainties as to the market price of Palomar’s common stock, market conditions in general and Palomar’s future operating performance. Additional factors that may affect future results are described in Palomar’s news releases and periodic filings with the Securities and Exchange Commission. Palomar’s public filings with the Securities and Exchange Commission are available at www.sec.gov. Palomar assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.