Palomar Holdings, Inc. Announces New Partnership with Omaha National Group, Inc.
Palomar Holdings, Inc. Announces New Partnership with Omaha National Group, Inc. Palomar’s partnership provides a key entry point through its admitted subsidiary, (“PSIC”), acting as the insurer in , supporting Omaha National’s workers compensation product in California’s admitted market. operates with a significant competitive advantage and is a key resource in permitting non-licensed insurance companies and reinsurers to access primary insurance market. This new partnership with Omaha National allows us to not only extend the franchise but to partner with a market leader in the workers compensation space.” “We’re pleased to be teaming up with as we continue to grow our presence on the and provide great service to the small and midsize businesses that keep running,” said Omaha National President and Chief Executive Officer . Palomar’s underwriting and analytical expertise allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, hurricane and flood insurance.
Published : 3 years ago by MarketScreener in Finance Markets
- Expands PLMR-FRONT to Consist of Four Program Partners Since Formation in the Third Quarter 2021 -
, (GLOBE NEWSWIRE) -- (NASDAQ:PLMR) (“Palomar” or the “Company”) today announced it has entered into a two-year arrangement with new partner (“Omaha National”), a leading tech-enabled provider of workers’ compensation insurance.
Palomar’s partnership provides a key entry point through its admitted subsidiary, (“PSIC”), acting as the insurer in , supporting Omaha National’s workers compensation product in California’s admitted market. Omaha National, through its managing general agent, Omaha National Underwriters, will be overseeing the insurance operations including underwriting, risk management and claims. This partnership represents further progress towards Palomar’s strategic growth initiatives in PLMR-FRONT. operates with a significant competitive advantage and is a key resource in permitting non-licensed insurance companies and reinsurers to access primary insurance market.
, Chairman & Chief Executive Officer of , commented, “Palomar is keenly focused on the strategic initiatives conveyed at the outset of the year, namely, building a best-in-class franchise through PLMR-FRONT. This new partnership with Omaha National allows us to not only extend the franchise but to partner with a market leader in the workers compensation space.”
“We’re pleased to be teaming up with as we continue to grow our presence on the and provide great service to the small and midsize businesses that keep running,” said Omaha National President and Chief Executive Officer . “Palomar is a highly respected company that is filled with exceptionally talented professionals, and we’ve formed a great partnership.”
“We are thrilled to partner with Omaha National which provides a renowned tech enabled service and subject expertise in the workers compensation business line,” said , Executive Vice President and Head of Programs at . “Omaha National’s management team has developed an outstanding reputation and a proven track record within the workers compensation market.”
About
is the holding company of subsidiaries (“PSIC”), , and (“PESIC”). is an innovative insurer that focuses on the provision of specialty insurance for residential and commercial clients. Palomar’s underwriting and analytical expertise allow it to concentrate on certain markets that it believes are underserved by other insurance companies, such as the markets for earthquake, hurricane and flood insurance. Palomar’s insurance subsidiaries, , , and , have a financial strength rating of “A-” (Excellent) from .
About Omaha National
Omaha National serves the businesses that build America and keep it running; small to mid-size companies where people work with their hands and have a greater risk of being injured. Our proprietary software enhances our operations to better serve our customers and their injured workers. Omaha National offers AM Best A- (Excellent) rated workers’ compensation coverage through more than 2,500 agencies. Since our launch in 2016, the company has grown to more than 200 employees and more than of in-force premiums.
Safe Harbor Statement
cautions you that statements contained in this press release may regard matters that are not historical facts but are forward-looking statements. These statements are based on the company’s current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation by that any of its plans will be achieved. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in the Company’s business. The forward-looking statements are typically, but not always, identified through use of the words "believe," "expect," "enable," "may," "will," "could," "intends," "estimate," "anticipate," "plan," "predict," "probable," "potential," "possible," "should," "continue," and other words of similar meaning. Actual results could differ materially from the expectations contained in forward-looking statements as a result of several factors, including unexpected expenditures and costs, unexpected results or delays in development and regulatory review, regulatory approval requirements, the frequency and severity of adverse events and competitive conditions. These and other factors that may result in differences are discussed in greater detail in the Company's filings with the . You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Topics: Nebraska, Omaha