Gray Casualty & Surety Company Acquired by Palomar Insurance Holdings | Financial Services M&A Deal

Palomar Insurance Holdings has completed the acquisition of Gray Casualty & Surety Company, a insurance brokerage business in California, for $300 million. Gray Casualty & Surety Company provides commercial insurance and surety products, supporting Palomar Insurance Holdings acquisitions in financial services M&A and CA acquisitions. Palomar Insurance Holdings acquisitions add underwriting and distribution capabilities that strengthen strategic acquisition coverage for customers across California. The add on acquisition closed on January 31, 2026, as a strategic acquisition by a direct wholly owned subsidiary of Palomar Holdings, Inc., with a purchase price subject to customary adjustments.