PALOMAR HOLDINGS, INC. (NASDAQ:PLMR) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 12:00 pm ET


PALOMAR HOLDINGS, INC. (NASDAQ:PLMR) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning, and welcome to Palomar Holdings, Inc. Second Quarter 2020 Earnings Conference Call. During today's presentation all parties will be in a listen-only mode. Following the presentation the conference line will be opened for questions with instructions to follow at that time. As a reminder this conference is being recorded.

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

Chris Uchida

Thank you operator, and good morning, everyone. We appreciate your participation in our second quarter 2020 earnings call. With me here today is Mac Armstrong, our Chairman, Chief Executive Officer and Founder. 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 12, 2020.

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, including, but not limited to, risks and uncertainties related to the COVID-19 pandemic. Such risks and other factors are set forth in our quarterly report on Form 10-Q that will be filed with the Securities and Exchange Commission today, August 5, 2020. 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 US GAAP. A reconciliation of these non-GAAP measures to their most comparable GAAP measure can be found in our earnings release.

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

Mac Armstrong

Thank you, Chris, and good morning, everyone. Before I discuss our second quarter performance, on behalf of Palomar, I'd like to express my hope that all of those on this call are safe and healthy. We continue to find ourselves in uncharted waters as we navigate the COVID-19 pandemic and the ongoing civil unrest in our country.

Regarding the continuing pandemic, our number one priority remains the health and safety of our team. Our employee base remains resilient as the COVID-19 pandemic continues to impact our ability to return to the office safely. To comply with state and local mandates and support our team, we'll maintain our predominantly virtual remote workforce environment through the remainder of this year. I want to thank our entire team, who continues to work diligently during these extraordinary circumstances and maintain business-as-usual standards for our insurers and partners.

Operationally, we remain fairly insulated from the COVID-19 pandemic and continue to believe the pandemic will not have a material impact on our profitability or growth. Our specialty property focus