Log In

Reset Password

Palomar capital allocation strategy

The parent company of island-based Palomar Specialty Reinsurance Company Bermuda Ltd has approved a new two-year $100 million share repurchase programme.

California-based Palomar Holdings Inc said the programme replaces the previous share repurchase authorisation that had $24.2 million of the original $40 million remaining and authorises the repurchase by the company of up to $100 million of its outstanding shares of common stock over the period ending on March 31, 2024.

Mac Armstrong, chairman and chief executive officer of Palomar, said: “Today’s announcement represents Palomar’s continued confidence in our long-term strategic plan and the value it will create in the short and long term for our shareholders.

“We believe that an opportunistic capital allocation strategy can be used in concert with our ambitious growth plan to enhance our returns. Importantly, we believe that the new plan will in no way impede our ability to meaningfully grow Palomar and capitalise on the considerable investments made over the last year and a half.”

Palomar Holdings Inc is the holding company of subsidiaries Palomar Specialty Insurance Company, Palomar Specialty Reinsurance Company Bermuda Ltd, Palomar Insurance Agency Inc and Palomar Excess and Surplus Insurance Company.

Mac Armstrong, chairman and chief executive officer of Palomar

You must be Registered or to post comment or to vote.

Published January 27, 2022 at 7:57 am (Updated January 27, 2022 at 7:57 am)

Palomar capital allocation strategy

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon