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, a leader in the specialty property and casualty market, announced a secondary offering of 4,400,000 shares of its common stock by The Westaim The underwritten offering includes a 30-day option to purchase an additional 660,000 shares. Skyward Specialty will not receive proceeds from the sale, with the Selling Stockholder bearing associated costs. Barclays, Keefe, Bruyette & Woods, Inc., and Jefferies are acting as joint lead book-running managers for the proposed offering.
Skyward Specialty Insurance Group, Inc. (Nasdaq: SKWD) reported a strong first quarter 2024 with net income of $36.8 million, up from $15.6 million in 2023. Highlights include gross written premiums increasing by 27.2%, underwriting income of $24.7 million, and an annualized return on equity of 21.7%. The company continues to execute its strategy successfully and expects to deliver attractive returns for shareholders in 2024.
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