Skyward Specialty Launches Aviation Program in Partnership With Acceleration Aviation

Rhea-AI Summary

Skyward Specialty Insurance Group (Nasdaq: SKWD) has partnered with Acceleration Aviation Underwriters to launch a comprehensive aviation insurance program. The new offering covers a wide range of aviation-related businesses, including commercial and general aviation aircraft, fixed based operators, flight schools, and airports. This strategic move aims to address the challenges of capacity and coverage in the aviation insurance market.

Kirby Hill, president of Captives, Programs & Alternative Risk at Skyward Specialty, emphasized the partnership's alignment with the company's strategy to target underserved markets. Chris Jones, president of Acceleration Underwriters, expressed enthusiasm about contributing to Skyward Specialty's success in the P&C market through this collaboration.

Positive

• Expansion into a new market segment (aviation insurance)
• Partnership with an experienced aviation insurance underwriter
• Potential for growth in an underserved market
• Diversification of insurance offerings

Negative

• None.

HOUSTON, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc.^TM (Nasdaq: SKWD) ("Skyward Specialty" or "the Company") a leader in the specialty property and casualty (P&C) market, and Acceleration Aviation Underwriters, Inc. (“Acceleration Aviation”) have partnered to bring comprehensive coverage solutions to an array of aviation-related businesses.

The partnership between Skyward Specialty and Acceleration Aviation introduces a robust program that extends coverage to commercial and general aviation aircraft, fixed based operators, flight schools, public and private airports and various other aviation enterprises.

Kirby Hill, president, Captives, Programs & Alternative Risk commented, “Joining forces with Acceleration Aviation enables us to offer comprehensive, reliable solutions to an industry where adequately addressing capacity and coverage has been a challenge. Our entry into this market demonstrates our commitment to identifying and capitalizing on growth opportunities that align with our strategy to reach underserved markets.”

Chris Jones, president of Acceleration Underwriters, states, “Our team at Acceleration Aviation is excited to bring our expertise in aviation insurance to our partnership with Skyward Specialty. We look forward to growing a profitable book of aviation insurance business to contribute to Skyward Specialty’s already impressive success in the P&C market.”

About Acceleration Aviation
Acceleration Aviation Underwriters is an agency specializing in aviation risk underwriting. Through its partnership with Skyward, Acceleration focuses on general aviation accounts including flight schools, commercial operations, personal use aircraft and airport risks. Underwriting is performed by its staff of experienced aviation specialists utilizing a nationwide network of independent agents.

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 a 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 insurance program has Skyward Specialty (SKWD) launched?

Skyward Specialty (SKWD) has launched a comprehensive aviation insurance program in partnership with Acceleration Aviation Underwriters, covering various aviation-related businesses including aircraft, operators, flight schools, and airports.

What types of businesses will be covered by Skyward Specialty's (SKWD) new aviation program?

Skyward Specialty's (SKWD) new aviation program will cover commercial and general aviation aircraft, fixed based operators, flight schools, public and private airports, and various other aviation enterprises.

Why did Skyward Specialty (SKWD) enter the aviation insurance market?

Skyward Specialty (SKWD) entered the aviation insurance market to address challenges in capacity and coverage, and to capitalize on growth opportunities in underserved markets, aligning with their strategic goals.

Who is Skyward Specialty (SKWD) partnering with for their new aviation insurance program?

Skyward Specialty (SKWD) is partnering with Acceleration Aviation Underwriters to launch and operate their new aviation insurance program.