PALOMAR RENEWS 300M IN REINSURANCE AND ADDS $145M IN LIMIT

California-based catastrophe insurer Palomar Insurance Holdings has renewed around $300m of its core reinsurance programme and purchased $145m of incremental limit to support future growth. Palomar agreed to the purchases with its panel of more than 85 reinsurers, all who have posted collateral or are rated A- (excellent) or better by AM Best. With the added limit, Palomar’s reinsurance programme now provides up to $1.2bn in cover for earthquake events and enables the company to a maintain a cushion above the 1-in-250-years peak zone probable maximum loss.