Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), today announced the successful completion of its reinsurance renewal with Palomar Holdings, Inc. (NASDAQ: PLMR) effective July 1st. This is the fourth renewal agreement between the two companies.
Writing on both PLMR insurance entities (Palomar Specialty Insurance Company and Palomar Excess and Surplus Insurance Company) the new treaty renewed July 1st and covers a large portion of Cowbell’s US cyber portfolio and is a testament to the company’s underwriting discipline and diversified book of business. During the process, two new reinsurers were added to the panel and there was significant market interest.
Trent Cooksley, Co-Founder and Chief Operating Officer at Cowbell, shared, “Cowbell consistently delivers underwriting profitability and resilience despite market challenges and I am pleased that we were able to successfully complete our 7/1 renewal with favorable terms for all. This treaty is not just transactional – it reaffirms our trusted partnership with Palomar and aligns with our strategic objectives to continue to grow and enhance our offerings.”
Jason Sears, EVP and Head of Programs at Palomar added, “Palomar thanks our long-term reinsurers for their continued support. In this evolving class of business, Cowbell’s underwriting expertise continues to impress us. Developing this Program is part of our ongoing commitment to grow with the help of subject matter experts that produce excellent risk-adjusted results for shareholders.”
While the insurance landscape is continually evolving; strong collaborations between trusted partners will always be foundational for long-term success. The success of this placement signals Cowbell’s strong position in the market, furthering the company’s mission to provide innovative cyber solutions to small and mid-sized businesses.