Breaking News
Palomar Holdings, Inc. Secures $25 Million of Aggregate Reinsurance Protection
Palomar Holdings, Inc today announced that it has renewed $25.0 million of aggregate excess of loss reinsurance limit (“Aggregate Cover”). The Aggregate Cover incepts April 1, 2022, has an attachment point of $30.0 million and maintains coverage for qualifying events within its per occurrence retention. This coverage applies across all perils including but not limited to earthquakes, hurricanes, convective storms, and floods above a qualifying level of $2.0 million in ultimate gross loss.
Mac Armstrong, Chairman and Chief Executive Officer of Palomar, commented, “We are very pleased to successfully complete the placement of our Aggregate Cover. The Aggregate Cover is a demonstrable example of how we proactively safeguard our business, balance sheet and operating results. The reinsurance facility not only protects our business from losses generated by multiple severe catastrophic events, but also establishes a floor on our adjusted return on equity. Assuming the full utilization of the Aggregate Cover and the mid-point of our previously announced adjusted net income range of $80 – $85 million, our 2022 adjusted return on equity has a floor of 14%.”
People In This Post
Companies In This Post
- The 4th Financial Innovation Forum – Payments & RegTech Arrives in London Read more
- Double UK eCommerce Award Shortlisting for Ecommpay Read more
- Candescent Appoints Donald Chesnut as Chief Design Officer to Drive Digital Innovation Read more
- Meanwhile Sees Unprecedented Demand for BTC Life Insurance, Offers Policy With 0.25 BTC Minimum Read more
- Global Payments Announces the Launch of its Genius™ for Enterprise POS Solution Read more
Meanwhile Sees Unprecedented Demand for BTC Life Insurance, Offers Policy With 0.25 BTC Minimum
Meanwhile announced an update to its flagship Ten-Pay Whole Life policy, lowering the minimum from 1.0 BTC to 0.25 BTC
Kalepa To Partner with Canopius To Power Underwriting Excellence
Kalepa is pleased to announce that Canopius, a leading global specialty (re)insurer, has licensed its award-winning underwriting AI platform to accelerate growth and innovation across its lines of business in the US.
InsureMO and Appian Unite to Deliver Enterprise-Grade Underwriting Innovation for US E&S Specialty Insurance
InsureMO, the global leader in insurance middleware, today announced a strategic partnership with Appian (Nasdaq: APPN), a leader in process orchestration, to launch a unified underwriting solution tailored for the US Excess & Surplus (E&S) specialty insurance market. This collaboration brings together InsureMO’s enterprise-grade Excel Rater platform and robust API ecosystem with Appian’s advanced, AI-powered Connected Underwriting Workbench, setting a new benchmark for speed, flexibility, and operational excellence in E&S insurance.
Encova Insurance Leverages Sapiens to Streamline Testing and Improve Software Quality
Sapiens International Corporation, (NASDAQ: SPNS) (TASE: SPNS), a leading global provider of software solutions for the insurance industry, today announced the first implementation of Sapiens' Automated Testing Services (ATS).
Weather Protection at Agents’ Fingertips: Vortex Partners with First Connect
Vortex Weather Insurance is partnering with First Connect to make accessing Vortex's parametric weather policies easier than ever
Gradient AI Launches Risk Management Life Cycle Solution for Group Health
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, today announced the release of its enhanced group health AI-powered Risk Management Life Cycle solution. The platform integrates Gradient AI’s SAIL™ for new business underwriting with its Renewal Analytics for existing clients, creating a unified, full-cycle underwriting and risk management solution for group health insurers.
BOXX Insurance and Millennial Shift Technologies Announce Strategic Partnership to Expand Access to Cyber and Professional Liability Insurance Coverage
BOXX Insurance announced a new partnership with Millennial Shift Technologies to enhance broker access to Cyberboxx® Business,
The 4th Financial Innovation Forum – Payments & RegTech Arrives in London
The 4th Financial Innovation Forum – Payments & RegTech is one of the best Payments, RegTech and compliance events in the UK, bringing together leading experts in payments, compliance, and financial services innovation.
Double UK eCommerce Award Shortlisting for Ecommpay
Ecommpay, has been shortlisted in two categories of the UK eCommerce Awards that celebrates outstanding platforms
Candescent Appoints Donald Chesnut as Chief Design Officer to Drive Digital Innovation
Candescent announced that Donald Chesnut has been named Chief Design Officer to develop exceptional digital experiences and innovation
Meanwhile Sees Unprecedented Demand for BTC Life Insurance, Offers Policy With 0.25 BTC Minimum
Meanwhile announced an update to its flagship Ten-Pay Whole Life policy, lowering the minimum from 1.0 BTC to 0.25 BTC
Global Payments Announces the Launch of its Genius™ for Enterprise POS Solution
Global Payments announced that its Genius solution for enterprise customers is available in the U.S.
Upbound Group Announces Appointment of Chief Growth Officer
Upbound appointed Ms. Rebecca Wooters to the newly created role of Chief Growth Officer
UPS and American Express Announce Collaboration at the Intersection of Logistics and Payments
UPS and American Express announced an expanded agreement to help small businesses grow and drive commerce in their communities