Welcome to our dedicated page for Skyward Specialty Insurance Group news (Ticker: SKWD), a resource for investors and traders seeking the latest updates and insights on Skyward Specialty Insurance Group stock.
Skyward Specialty Insurance Group, Inc. (Nasdaq: SKWD) generates news and disclosures that reflect its role in the specialty property and casualty insurance market and its position as part of Skyward Group. News coverage for SKWD often centers on developments in its specialty P&C operations, strategic initiatives, and corporate actions that affect its underwriting capabilities and capital structure.
Company announcements have highlighted expansions of its underwriting offerings, such as the significant expansion of its E&S Property business with the addition of excess coverage for technically complex, non-catastrophe property risks. These updates illustrate how the company applies its “Rule Our Niche” strategy and invests in areas where it sees demand for specialized capacity and layered programs.
News about Skyward Specialty also includes information on its acquisition of Apollo Group Holdings Limited and the introduction of Skyward Group as the unified holding company brand for its U.S. and Lloyd’s businesses. These items provide context on how the organization is building a broader platform across global specialty P&C markets while maintaining Skyward Specialty and Apollo as distinct market-facing brands.
Additional recurring themes in SKWD news include quarterly and annual financial results, guidance updates, credit facility arrangements, board and leadership changes, and partnerships with technology providers such as Sixfold to support AI-powered underwriting. Readers following SKWD news can use this page to review company press releases and related items that shed light on underwriting performance, strategic transactions, and the evolution of its specialty insurance offerings.
Skyward Specialty Insurance Group (NASDAQ: SKWD) has strengthened its regional Contract Surety teams with the addition of six surety specialists. The company has recruited experienced professionals to key positions:
- Gregg Callahan as regional VP in New England
- Larry Mastalski as regional VP in Texas and Midwest
- Sam Allison as assistant regional VP in Texas
- Sean Fallows as regional assistant VP in the Pacific Northwest
- Joe Waynauskas as senior underwriter in the north-central region
- Joe Michalewsky as underwriter in the Northeast region
These strategic hires bring extensive expertise and established relationships in the surety market, positioning Skyward Specialty to capitalize on market opportunities and reinforce its regional growth strategy.
Skyward Specialty Insurance Group (NASDAQ: SKWD) announced its entry into the mortgage (re)insurance market on August 13, 2024. To spearhead this new venture, the company has brought on Jean-Philippe “JP” Latour as senior vice president. Latour joined in May 2024, bringing extensive experience from Arch and Vantage Risk, where he played key roles in developing reinsurance solutions and leading market entries. Latour's background includes significant expertise in banking, capital markets, and mortgage banking.
Andrew Robinson, chairman and CEO, highlighted the positive reception from GSEs, primary insurers, and brokers. The new unit marks Skyward's second reinsurance initiative, following its entry into the Global Agriculture market in 2023. The move aligns with Skyward's strategy to diversify its portfolio and focus on less P&C cycle-exposed markets. Robinson emphasized the ongoing evaluation of niche (re)insurance opportunities to create shareholder value.
Skyward Specialty Insurance Group (SKWD) reported strong Q2 2024 results, with net income of $31.0 million ($0.75 per diluted share), up from $19.5 million in Q2 2023. Adjusted operating income reached $33.1 million ($0.80 per diluted share), compared to $16.0 million in Q2 2023. Key highlights include:
- Gross written premiums increased 17.6%
- Underwriting income of $23.9 million
- Combined ratio improved to 90.7%
- Annualized return on equity of 19.6% for H1 2024
- AM Best upgraded rating to A (Excellent) with stable outlook
The company's growth was driven by strong performance in captives, transactional E&S, and surety underwriting divisions. CEO Andrew Robinson expressed confidence in the company's position to deliver attractive returns and profitable growth.
Skyward Specialty Insurance Group (Nasdaq: SKWD) has achieved an upgraded Financial Strength Rating (FSR) of 'A' (Excellent) with a stable outlook from A.M. Best Company for its subsidiary insurance companies. This upgrade reflects Skyward Specialty's very strong balance sheet, adequate operating performance, neutral business profile, and appropriate enterprise risk management.
A.M. Best noted the company's sustained trend of improving underwriting results since 2020, following a change in executive leadership, as well as consistent investment income. The upgrade positions Skyward Specialty to profitably grow its business, meet customer and broker needs, and capitalize on new market opportunities.
Skyward Specialty Insurance Group (Nasdaq: SKWD) has made two key appointments to expand its Healthcare Solutions portfolio and broaden its Transactional Property E&S underwriting units. Julie Miglin joins as vice president to lead the new Life Sciences solutions within Healthcare Solutions. With over 15 years of experience, Miglin previously specialized in Life Sciences underwriting at Chubb and Beazley.
Steven Smith has been appointed to lead the Transactional E&S Property portfolio. Smith brings more than 30 years of underwriting expertise, including 13 years at RSUI Group, Inc. These strategic hires aim to strengthen Skyward Specialty's position in the specialty property and casualty market, particularly in healthcare-related professional and product liability solutions and E&S property solutions.
Skyward Specialty Insurance Group (NASDAQ: SKWD) will release its second quarter 2024 earnings results after the market closes on Monday, August 5, 2024. The results will be available on the company's investor website. The following day, Tuesday, August 6, 2024, at 10 a.m. EDT, Skyward Specialty will host an earnings call to review these financial results. Investors can access the live audio webcast or join via conference call by registering for dial-in information and a unique PIN. A replay of the webcast will be available two hours after the call on the same investor website.
Skyward Specialty Insurance Group (NASDAQ: SKWD) has been named one of U.S. News & World Report's Best Companies to Work For in 2024-2025. The recognition is based on publicly available information about the company's employee support and work environment. Key factors considered include quality of pay and benefits, work-life balance, job stability, and career opportunities. CEO Andrew Robinson emphasized the company's commitment to fostering a winning and compassionate culture, stating that the recognition confirms their efforts in creating a desirable workplace.
Skyward Specialty Insurance Group (NASDAQ: SKWD) announced the expansion of its Media Liability team with the recruitment of three industry veterans: Andrea Taylor, Cheech Bradford, and Emily Caron.
Taylor joins as vice president of Media Liability with 25 years of experience from ANV Media and QBE North America. Bradford, bringing over 35 years of experience from Hiscox, AXIS Capital, and QBE North America, joins as assistant vice president of Media Liability. Caron, an experienced claims attorney, joins as vice president of Media Liability Claims.
This expansion follows the company's successful entry into the media liability market as a primary carrier two months ago. Skyward Specialty aims to provide innovative solutions and strengthen its growth in the professional liability division.
The Westaim announced the closing of the secondary public offering of Skyward Specialty Insurance Group, Inc. The Offering involved the sale of 5,060,000 shares of common stock of Skyward Specialty at a price of US$36.50 per share, resulting in proceeds of approximately US$177.3 million. Westaim now holds a 4.8% interest in Skyward Specialty. Barclays, Keefe, Bruyette & Woods, Inc., A Stifel Company, and Jefferies served as joint lead book-running managers for the Offering.
Westaim announces the pricing of Skyward Specialty's secondary public offering, with the intention of selling 4,400,000 shares at a price of US$36.50 per share through its subsidiary. The offering includes an option for underwriters to purchase an additional 660,000 shares. Skyward Specialty will not receive proceeds from the sale.