Operator Good morning, and welcome to the Palomar Holdings, Inc. First Quarter 2021 Earnings Conference Call. [Operator Instructions] I would now like to turn this call over to Mr. Chris Uchida, Chief Financial Officer. Please go ahead, sir. Thank you. You may begin. Mac Armstrong -- Chairman, Chief Executive Officer and Founder Thank you, Chris, and good morning, everyone. Today, I'll speak to our first quarter results at a high level and then discuss ongoing efforts to expand our business and drive profitable growth. From there, I'll turn the call back to Chris to discuss our financial results in more detail. We had a strong first quarter, a quarter that generated solid financial results and a quarter that puts us in a position to reap the long-term benefits of several key initiatives. Highlights of Q1 I would like to emphasize are as follows. First, our strong growth trajectory not only continue but actually accelerated as our gross written premium increased by 45% during the quarter. We grew broadly across both new and existing offerings, including Residential and Commercial Earthquake, Hawaii Hurricane and Inland Marine. Second, Our E&S carrier, PESIC, continued to be an important driver of growth for existing products and diversification in the new lines of business. PESIC grew rapidly, approaching $100 million in annualized gross written premiums in its second full quarter of operation. Third, we continue to refine our underwriting and risk transfer strategy while benefiting from sustained attractive pricing environment and dislocation in selected specialty insurance markets. We've spoken to this in great length on previous calls, but I'd like to emphasize that we are committed to the ongoing improvement of Palomar across all dimensions of our business and believe that our actions and results this quarter reflect this commitment and capability. Fourth, we remain focused on providing visibility into our earnings base and growth. I am very pleased that the $25 million of aggregate excess of loss reinsurance limit, which we refer to as the aggregate cover, that was secured in the first quarter will protect our balance sheet.