Is PLMR halal?
Palomar Holdings, Inc.
Not halal
Palomar Holdings, Inc. did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
139.59
Day
+1.44%
Market cap
$3.53B
Industry
Insurance - Property & Casualty
Sector
Financial Services
What the company does
Palomar is an insurer specializing in catastrophe risks such as earthquake, hurricane and flood, mainly in California and the southern states. Money comes from premiums; it passes much of the risk to reinsurers.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Insurance - Property & Casualty
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $295.77M ÷ 36-month average market cap $2.87B = 10.3%
10.3%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $815.65M ÷ 36-month average market cap $2.87B = 28.4%
28.4%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $57.03M ÷ annual revenue $875.97M (2025) = 6.5%
6.5%
Fail
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $3.53B.
For information (AAOIFI 3/1 note): cash + receivables are 51.9% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.