LA JOLLA, Calif., July 28, 2020 (GLOBE NEWSWIRE) — Palomar Holdings, Inc. (NASDAQ: PLMR) (the “Company”) today confirmed that AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Palomar Excess and Surplus Insurance Company (PESIC) (Arizona). The outlook assigned to these Credit Ratings (ratings) is stable.
Mac Armstrong, Palomar’s Chairman and Chief Executive Officer commented, “The receipt of an A- Financial Strength Rating from A.M. Best allows PESIC to go to market with a strong balance sheet and a well-vetted strategic plan. The pooled resources of Palomar Specialty Insurance Company and PESIC now provide our distribution partners with innovative specialty property insurance products from well-capitalized admitted and E&S insurance vehicles. PESIC’s third quarter launch will further enable Palomar to respond even more