Skyward Specialty Expands Renewable Energy Coverage Solutions

Rhea-AI Summary

Skyward Specialty Insurance Group (Nasdaq: SKWD) has expanded its renewable energy coverage solutions to meet the growing demand in the specialty property and casualty market. The company now offers casualty coverage options for various renewable energy classes, including solar, wind, hydroelectric, biomass, and geothermal sectors.

Rob Roberts, president of Energy at Skyward Specialty, emphasized the rising demand for renewable energy and the need for specialized risk management solutions. He highlighted the company's team of industry experts who are equipped to develop strategies and apply best-in-class underwriting to address the needs of this dynamic market opportunity.

This expansion aligns with Skyward Specialty's strategy to deliver innovative, customized solutions to specialized markets and further diversifies their energy portfolio.

Positive

• Expansion into growing renewable energy market
• Diversification of energy portfolio
• Tailored solutions for underserved risks in renewable energy sector

Negative

• None.

HOUSTON, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.™ (Nasdaq: SKWD) ("Skyward Specialty" or "the Company"), a leader in the specialty property and casualty (P&C) market, announced the expansion of its renewable energy solutions.

As the renewable energy market continues to experience unprecedented growth, the need for specialized risk management solutions becomes increasingly important. However, many of these risks remain underserved by conventional coverage options.

"The rising demand for renewable energy creates new opportunities for the specialty market to respond," said Rob Roberts, president of Energy at Skyward Specialty. "Our team of industry experts bring deep industry knowledge and are well-equipped to develop strategies and apply best-in-class underwriting to tackle the needs of this dynamic market opportunity."

Skyward Specialty's expanded renewable energy offering now includes casualty coverage options targeting various renewable energy classes, including solar, wind, hydroelectric, biomass, and geothermal, providing tailored solutions for businesses in these sectors.

Roberts continued, "Today, we serve this market in different capacities across several of our underwriting units, so we are excited to expand the Company's renewable energy offering, further diversifying our energy portfolio and aligning with our strategy to deliver innovative, customized solutions to the most specialized markets."

About Skyward Specialty
Skyward Specialty is a rapidly growing and innovative specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions -- Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.

Skyward Specialty's subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A (Excellent) with stable outlook by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.

Media Contact
Haley Doughty
Skyward Specialty Insurance Group
713-935-4944
hdoughty@skywardinsurance.com

Investor Contact
Natalie Schoolcraft
Skyward Specialty Insurance Group
614-494-4988
nschoolcraft@skywardinsurance.com

FAQ

What new coverage options has Skyward Specialty (SKWD) introduced for renewable energy?

Skyward Specialty has expanded its renewable energy offering to include casualty coverage options for various renewable energy classes, such as solar, wind, hydroelectric, biomass, and geothermal sectors.

How does the expansion of renewable energy solutions align with Skyward Specialty's (SKWD) strategy?

The expansion aligns with Skyward Specialty's strategy to deliver innovative, customized solutions to specialized markets and further diversifies their energy portfolio.

What market opportunity is Skyward Specialty (SKWD) addressing with its expanded renewable energy coverage?

Skyward Specialty is addressing the rising demand for specialized risk management solutions in the rapidly growing renewable energy market, which remains underserved by conventional coverage options.