Skyward Specialty Insurance Group Inc Stock Price, News & Analysis

Skyward Specialty Insurance Group (NASDAQ: SKWD) is set to announce its first-quarter 2023 earnings results post-market on May 9, 2023. The financial results will be accessible on the company’s investor website. An earnings call will follow on May 10 at 10 a.m. CST, allowing investors to hear a detailed financial review. Skyward Specialty operates across eight underwriting divisions, providing innovative commercial property and casualty insurance solutions. Its subsidiaries hold an A- (Excellent) rating from A.M. Best Company, reinforcing its market position as a rapidly growing player in the specialty insurance sector.

Skyward Specialty Insurance Group (NASDAQ: SKWD) announced key leadership changes to enhance its Captives and Programs divisions. Ryan Burke has been promoted to Vice President, Specialty Programs, bringing valuable experience from his previous roles at Swiss Re and Travelers. Amy Klatt has been elevated to Senior Vice President, Captives and Programs Claims, leveraging her extensive background with Berkshire Hathaway and Gallagher Bassett. Kirby Hill, president of Industry Solutions, emphasized that these appointments will drive innovation and bolster services for partners and customers, marking a strategic shift as the company continues to expand in the specialty insurance market.

Skyward Specialty Insurance Group (Nasdaq: SKWD) has announced its entry into the global agriculture market by appointing James Tran as Senior Vice President, Global Agriculture. Tran, who has over 20 years of experience in global agriculture underwriting, will lead the initiative to provide secondary and reinsurance solutions for various agricultural sectors, including food crops, livestock, and aquaculture. CEO Andrew Robinson expressed confidence in Tran's leadership to build a diversified agriculture portfolio. This move aims to address increasing agricultural risks due to climate change and support sustainable practices worldwide.

Skyward Specialty Insurance Group reported strong financial results for Q4 2022, achieving a net income of $20.4 million or $0.63 per diluted share, compared to $1.3 million or $0.04 per diluted share in Q4 2021. Gross written premiums rose 18.1% year-over-year, while net investment income jumped 30.6% to $5.3 million. The combined ratio improved significantly to 92.4% from 106.8% in the previous year, illustrating enhanced underwriting efficiency. CEO Andrew Robinson emphasized the company's disciplined approach and diverse portfolio, paving the way for continued growth in 2023.