Palomar Holdings, Inc. (NASDAQ:PLMR) Q2 2023 Earnings Conference Call August 3, 2023 12:00 PM ET

Company Participants

Chris Uchida - Chief Financial Officer

Mac Armstrong - Chairman and CEO

Jon Christianson - President

Conference Call Participants

Tracy Benguigui - Barclays

Mark Hughes - Truist Securities

David Motemaden - Evercore ISI

Andrew Andersen - Jefferies

Pablo Singzon - JPMorgan

Operator

Good morning. And welcome to the Palomar Holdings, Inc. Second Quarter 2023 Earnings Conference Call. During today’s presentation, all parties will be in a listen-only mode. Following the presentation, the conference call will be open for questions with instructions to follow at that time. As a reminder, this conference call is being recorded.

I would now like to turn the conference call over to Mr. Chris Uchida, Chief Financial Officer. Chris, please go ahead, sir.

Chris Uchida

Thank you, Operator. Good morning, everyone. We appreciate your participation in our second quarter 2023 earnings call. With me here today is Mac Armstrong, our Chairman and Chief Executive Officer.

As a reminder, a telephonic replay of this call will be available on the Investor Relations section of our website through 11:59 p.m. Eastern Time on August 10, 2023.

Before we begin, let me remind everyone that this call may contain certain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

These include remarks about management’s future expectations, beliefs, estimates, plans and prospects. Such statements are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from those indicated or implied by such statements.

Such risks and other factors are set forth in our quarterly report on Form 10-Q filed with the Securities and Exchange Commission. We do not undertake any duty to update such forward-looking statements.

Additionally, during today’s call, we will discuss certain non-GAAP measures, which we believe are useful in evaluating our performance. The presentation of this additional information should not be considered in isolation or as a substitute for results prepared in accordance with U.S. GAAP. A reconciliation of these non-GAAP measures to the most comparable GAAP measure can be found in our earnings release.

At this point, I will turn the call over to Mac.

Mac Armstrong

Thank you, Chris, and good morning, everyone. I am very pleased with the strong results of Palomar’s second quarter. Our team successfully executed our Palomar 2X strategy of profitable growth, even in the teeth of elevated catastrophe activity and a historically hard reinsurance market that significantly impacted the insurance industry.