Palomar Specialty Insurance Company, established in February 2014 as a specialty catastrophe insurer, is now licensed to write residential and commercial insurance in 14 states.

Palomar Specialty has initially focused on writing residential earthquake insurance, commercial earthquake insurance and difference in conditions (DIC) in earthquake-exposed states including California, Oregon and Washington.

In recent months, the company has expanded its licensure and is an admitted carrier in the following states: California, Oregon, Washington, Texas, Oklahoma, Missouri, Arizona, Nevada, Utah, Kentucky, Kansas, Indiana, Tennessee and Alaska.

"Palomar Specialty is swiftly responding to a market need by successfully broadening its geographic presence to serve both residential and commercial customers in earthquake-exposed regions throughout the United States," said Chief Executive Officer Mac Armstrong.

As Palomar Specialty expands into new geographies, the company will continue to leverage its expertise to provide a committed and stable presence in the catastrophe insurance marketplace.

Palomar Specialty was funded with $75m of equity capital from private equity firm Genstar Capital Management, LLC and the management team.