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) is a dynamic specialty insurance company that delivers a wide range of commercial property and casualty products on both non-admitted and admitted bases. The company operates through eight underwriting divisions, including Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety, and Transactional E&S. This diversified structure allows Skyward Specialty to offer customized insurance solutions across various market niches, including general liability, excess liability, professional liability, commercial auto, group accident, health, property, surety, and workers' compensation.
Founded with the goal of addressing the unique needs of specialized industries, Skyward Specialty has expanded significantly over the years. The company's subsidiary insurance entities include Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These subsidiaries are rated A- (Excellent) by A.M. Best Company with a positive outlook, reflecting their strong financial stability and operational performance.
Skyward Specialty's commitment to innovation and excellence is evident in its recent achievements. The company reported a robust first-quarter 2024 net income of $36.8 million, or $0.90 per diluted share, compared to $15.6 million, or $0.42 per diluted share, for the same period in 2023. Such impressive financial results underscore the effectiveness of its strategic initiatives and operational efficiencies.
The company has also made notable leadership appointments to strengthen its market position. For instance, Mark Boland now leads the Transactional E&S segment, Rick Childs heads the Construction division, and Doug Davies oversees Global Property. These leadership changes are designed to leverage the specialized expertise of each executive, further driving the company's growth and market penetration.
Skyward Specialty also places a strong emphasis on partnerships to extend its reach and capabilities. A recent collaboration with New Heights Insurance allows both entities to offer specialized insurance coverage to crane rental operators and millwright operations. This partnership combines deep industry knowledge with advanced technology to deliver superior risk management solutions.
For more information, please visit skywardinsurance.com or contact their media representative, Haley Doughty, at hdoughty@skywardinsurance.com or 713-935-4944.
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.
Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) announced the pricing of its secondary offering of 4,400,000 shares at $36.50 per share by The Westaim The offering includes an option for underwriters to purchase an additional 660,000 shares. The Selling Stockholder will hold between 4.80% and 6.45% in Skyward Specialty. The Company will not receive proceeds from the offering, and underwriters will bear associated costs. Multiple entities are acting as managers for the offering, made under an effective shelf registration statement.
The Westaim announces the sale of 4,400,000 shares of common stock of Skyward Specialty Insurance Group, Inc. through an underwritten secondary public offering. The Offering includes a 30-day option for the underwriters to purchase an additional 660,000 shares. Skyward Specialty will not receive any proceeds from the sale, with the Selling Stockholder bearing the underwriting discounts and commissions.
FAQ
What is the current stock price of Skyward Specialty Insurance Group (SKWD)?
What is the market cap of Skyward Specialty Insurance Group (SKWD)?
What does Skyward Specialty Insurance Group, Inc. do?
What types of insurance does Skyward Specialty provide?
How is Skyward Specialty performing financially?
Who are the new leaders at Skyward Specialty?
What subsidiaries does Skyward Specialty have?
How are Skyward Specialty's subsidiaries rated?
What recent partnerships has Skyward Specialty announced?
Where can I find more information about Skyward Specialty?
Who can I contact for media inquiries?
What is Skyward Specialty’s stock symbol?
