Palomar Holdings Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	1,224	929.15	635.2	506.56	425.18
Investments in Equity & Preferred Securities	99.33	42.81	45.78	38.58	33.26
Other Investments	28.5	5.86	-	-	-
Total Investments	1,352	977.82	680.98	545.14	458.44
Cash & Equivalents	106.88	80.44	51.55	68.11	50.28
Reinsurance Recoverable	468.7	395.16	276.79	193.61	157.32
Other Receivables	464.45	314.16	267.25	166.64	90.74
Deferred Policy Acquisition Cost	127.72	94.88	60.99	56.74	55.95
Property, Plant & Equipment	2.55	0.43	0.37	0.6	0.53
Goodwill	-	3.76	3.76	-	-
Other Intangible Assets	61.05	27.97	24.84	20.58	18.88
Restricted Cash	0.02	0.1	0.31	0.06	0.09
Other Current Assets	110.9	-	-	-	27.7
Long-Term Deferred Tax Assets	0.76	8.77	10.12	10.62	-
Other Long-Term Assets	355.92	358.74	331.07	244.35	65.82
Total Assets	3,051	2,262	1,708	1,306	925.73
Accounts Payable	115.66	62.32	42.38	25.76	21.28
Unpaid Claims	688.23	503.38	342.28	231.42	173.37
Unearned Premiums	988.14	741.69	597.1	471.31	284.67
Reinsurance Payable	316.26	218.04	195.16	156.81	48.34
Current Portion of Leases	-	1.05	-	-	-
Current Income Taxes Payable	-	-	7.26	-	-
Long-Term Debt	-	-	52.6	36.4	-
Long-Term Leases	-	6.71	-	-	-
Long-Term Deferred Tax Liabilities	-	-	-	-	3.91
Total Liabilities	2,108	1,533	1,237	921.7	531.57
Common Stock	0	0	0	0	0
Additional Paid-In Capital	523.17	493.66	350.6	333.56	318.9
Retained Earnings	422	262.22	144.64	87.71	69.95
Comprehensive Income & Other	-2.51	-26.85	-23.99	-36.52	5.31
Shareholders' Equity	942.67	729.03	471.25	384.75	394.17
Total Liabilities & Equity	3,051	2,262	1,708	1,306	925.73
Filing Date Shares Outstanding	26.52	26.68	24.87	24.98	25.44
Total Common Shares Outstanding	26.52	26.53	24.77	25.03	25.43
Total Debt	-	7.76	52.6	36.4	-
Net Cash (Debt)	106.88	72.67	-1.05	31.71	50.28
Net Cash Growth	47.06%	-	-	-36.94%	49.93%
Net Cash Per Share	3.89	2.77	-0.04	1.23	1.93
Book Value Per Share	35.54	27.48	19.02	15.37	15.50
Tangible Book Value	881.61	697.31	442.66	364.17	375.29
Tangible Book Value Per Share	33.24	26.28	17.87	14.55	14.76
Machinery	-	1.38	1.14	1.13	0.81
Leasehold Improvements	-	0.88	0.88	0.88	0.88

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.