Palomar Holdings Inc 2025年季度报告

Commission File Number:001-38873Palomar Holdings, Inc. Delaware(State or other jurisdiction of (Address of principal executive offices) (619)567-5290 Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required “emerging growth company” in Rule 12b-2 of the Exchange Act.Large accelerated filer☒Acceleratedfiler☐ Emerging growth company☐ with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Condensed Consolidated Balance Sheets at March 31, 2025(Unaudited) and December31, 2024Condensed Consolidated Statements of Incomeand Comprehensive Income (Loss) (Unaudited) for the ThreeMonths Ended March 31, 2025and 2024 Notesto Condensed Consolidated Financial Statements (Unaudited) Item 5.Other InformationItem6.Exhibits Signatures2 Net cash provided by operating activitiesInvesting activities Purchases of fixed maturity securities Sales of equity securitiesChange in securities receivable or payable, net Investments in limited partnershipsAcquisitions, net of cash acquired Net cash used in investing activities(51,944)Financing activitiesNet (payments on) proceeds from line of credit—Offering costs (related to prior year offering)(131)Proceeds from common stock issued via employee stock purchase plan526Proceeds from common stock issued via stock option exercises2,377Policy holder contribution to surplus777 Cash paid for income taxesCash paid for interest The following table summarizes our cash and cash equivalents and restricted cash and cash equivalents within the condensedconsolidated balance sheets (in thousands):March 31,December 31,20252024 7 1.Summary of Operations and Basis of Presentation 2014.The Company has several wholly owned subsidiaries including an Oregon domiciled insurance company, Palomar SpecialtyInsurance Company (“PSIC”), a Bermuda based reinsurance company, Palomar Specialty Reinsurance Company Bermuda Ltd.(“PSRE”), an Arizona domiciled surplus lines insurance company, Palomar Excess and Surplus Insurance Company (“PESIC”), aCalifornia domiciled property and casualty insurance agency, Palomar Insurance Agency, Inc., DBA Palomar General Insurance Segment Reporting The Company has a single operating segment, the property and casualty insurance business. The Company's chief operating decision maker ("CODM") is the Chief Executive Officer.The significant segment expenses provided to the CODM areconsistent with the categories shown in the Company's Condensed Consolidated Statements of Income and Comprehensive Income reported under U.S. generally accepted accounting principles (“GAAP”), which is the primary measure of segment profit or loss.The CODM reviews these measures, comparing them to prior periods and expectations, and makesresource allocation decisions based on the analysis.While the Company’s CODM also reviews the revenue streams attributable to individual products,operations are managed, resources are allocated, and financial performance is evaluated on a consolidated basis. Basis of PresentationThe accompanying condensed consolidated financial statements have been prepared in accordance with GAAPfor interim financial information and include the accounts of the Company and its wholly‑owned subsidiaries. The condensed consolidatedfinancial statements also include the accounts of Laulima, as Laulima is a variable interest entity ("VIE") for which the Companyis the primary beneficiary. complete consolidated financial statements. For a more complete description of the Company’s business and accounting policies,these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form10-K for the year endedDecember 31, 2024, filed with the SEC onFebruary25, 2025(the“2024Annual Report on Form10-K”). In the opinion of management, all adjustments necessary for a fairpresentation of the condensed consolidated financial statements have been included. Such adjustments consist only of normalrecurring items. All intercompany balances and transactions have been eliminated in consolidation. Interim results arenot estimates and assumptions could change in the future as more information becomes known, which could impact the amountsreported and disclosed herein. All revisions to accounting estimates are recognized in the period in which the estimates are revised. r