Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
Palomar Holdings's Claims Ratio % for the quarter that ended in Mar. 2024 was 24.90%
, which is higher than
19.10% for the pervious quarter ended in Dec. 2023.
Palomar Holdings's Claims Ratio % for the annual that ended in Dec. 2023 was 21.00%
, which is lower than
24.90% for the pervious year ended in Dec. 2022.
The historical rank and industry rank for Palomar Holdings's Claims Ratio % or its related term are showing as below:
PLMR's Claims Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Claims Ratio % only.
Palomar Holdings Claims Ratio % Historical Data
The historical data trend for Palomar Holdings's Claims Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Palomar Holdings's Claims Ratio %
For the Insurance - Property & Casualty subindustry, Palomar Holdings's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Palomar Holdings (NAS:PLMR) Claims Ratio % Calculation
Claims Ratio % is calculated as
Claims Ratio %
=
Total Claims
/
Total Premiums Earned
*
100%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Palomar Holdings (NAS:PLMR) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
Palomar Holdings Claims Ratio % Related Terms
Thank you for viewing the detailed overview of Palomar Holdings's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Palomar Holdings (Palomar Holdings) Business Description
Palomar Holdings Inc is a United States-based company focused on the provision of specialty property insurance earthquake, wind, and flood insurance products. The company's core focus is on the residential and commercial earthquake markets in earthquake-exposed states such as California, Oregon, Washington, and states with exposure to the New Madrid Seismic Zone. It offers specialty property insurance products in the target markets to both individuals and businesses through multiple channels, including retail agents, program administrators, wholesale brokers, and in partnership with other insurance companies. Its products include Residential Earthquake, Commercial Earthquake, Specialty Homeowners, Inland Marine, Commercial All Risk, Hawaii Hurricane, Residential Flood and others.
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