AM Best Affirms Palomar Holdings' Balance Sheet Strength and Ratings

AM Best affirmed the Long-Term Issuer Credit Rating of “bbb” for Palomar Holdings, which serves as the ultimate parent and insurance holding company. Concurrently, AM Best affirmed the Financial Strength Rating of A and the Long-Term ICR of “a” for Palomar Specialty Insurance Company, Palomar Excess and Surplus Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd., First Indemnity of America Insurance Company, and Palomar Casualty and Surety Company. The outlook for these ratings is stable or positive.

The ratings reflect that Palomar Holdings’ balance sheet strength is assessed as very strong, supported by the strongest level of risk-adjusted capitalization. The ratings also cite the company’s strong operating performance and appropriate enterprise risk management.