Palomar raises full-year adjusted net income outlook to $270M-$280M

• Q2 gross written premium reached $630.5 million, up 27% year over year.
• Q2 adjusted net income was $63.8 million, up 31% year over year.
• Adjusted ROE was 26%.

Palomar forecast full-year adjusted net income of $270 million-$280 million, lifting its prior outlook.

• Guidance assumes $8 million-$12 million of catastrophe losses.
• Modeling points to a Q3 seasonal peak in earned premium; full-year adjusted combined ratio is expected in the mid-70s.