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Skyward Specialty Insurance Group, Inc. - SKWD STOCK NEWS

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.

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Skyward Specialty Insurance Group, Inc. (NASDAQ: SKWD) announced changes to its Board of Directors, with the resignation of Cameron MacDonald and Robert Kittel from their positions. The successful completion of a recent offering led to their decision to leave the Board. Andrew Robinson, the CEO, will assume the position of Chairperson of the Board, and Tony Kuczinski has been named Lead Independent Director.
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Westaim Corporation (TSXV: WED) Announces the Closing of Skyward Specialty Insurance Group, Inc.™ (NASDAQ: SKWD) Upsized Follow-On Offering, Generating Approximately US$104.9 Million in Proceeds
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Westaim Corporation (TSXV: WED) announces the pricing of the Skyward Specialty Insurance Group, Inc.TM (NASDAQ: SKWD) upsized follow-on offering of 5,000,000 shares of its common stock at a price of US$30.50 per share. The offering is expected to close on November 20, 2023, and the underwriters have a 30-day option to purchase up to an additional 750,000 shares at the same price per share.
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Skyward Specialty Insurance Group Inc. (NASDAQ: SKWD) announced the pricing of its upsized follow-on offering of 5,000,000 shares of its common stock, with 2,150,000 shares offered by the company and an upsized 2,850,000 shares sold by existing stockholder, The Westaim Corporation, at $30.50 per share. The underwriters were granted a 30-day option to purchase up to an additional 750,000 shares. The offering is expected to close on November 20, 2023. The purpose of the offering is to support continued growth, capitalize on market opportunities, and increase capitalization and financial flexibility.
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Westaim Corporation (TSXV: WED) and Skyward Specialty Insurance Group, Inc.TM (NASDAQ: SKWD) have announced a follow-on offering of 2,150,000 common stock shares by Skyward Specialty and 2,350,000 shares by Westaim, with an option for the underwriters to purchase an additional 675,000 shares. The underwriting discounts and commissions for Westaim will be borne by the company. Barclays, Keefe, Bruyette & Woods, Inc., a Stifel Company, and Jefferies are the joint lead book-running managers for the Offering, while other companies are acting as joint book-running managers. This press release emphasizes that it does not constitute an offer to sell or the solicitation of an offer to buy, and it highlights the legal restrictions related to the sale of the shares.
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Skyward Specialty Insurance Group Inc. (NASDAQ: SKWD) announced a follow-on offering of 2,150,000 shares of its common stock, with an additional 2,350,000 shares offered by existing stockholder, The Westaim Corporation. The underwriters have a 30-day option to purchase up to an additional 675,000 shares. The company's primary goal for the offering is to support its growth and capitalize on market opportunities, expanding into new products and adjacencies. Skyward Specialty will not receive any proceeds from the sale of shares by Westaim. The offering is being managed by Barclays, Keefe, Bruyette & Woods, Inc., A Stifel Company, and Jefferies, among others.
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Skyward Specialty Insurance Group, Inc. reported a net income of $21.7 million for Q3 2023, compared to a net loss of $2.4 million in Q3 2022. Gross written premiums increased by 31.6% and underwriting income was $22.3 million. The combined ratio improved to 90.2% and the annualized return on equity was 16.4%.
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Skyward Specialty Insurance Group, Inc. announced additional expansion in its surety division by recruiting top talent in the industry. Scott Bailey has been appointed as vice president of Field Operations for Contract Surety, bringing nearly 40 years of experience. Chaz Cointment has joined as assistant vice president of Contract Surety to lead the expansion across Texas and surrounding states. The company also welcomed five senior underwriters to enhance opportunities in Contract Surety and Commercial Surety.
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Skyward Specialty Insurance Group expects to release its Q3 2023 earnings results on November 6 and host an earnings call on November 7.
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Skyward Specialty Insurance Group and eMaxx expand captives partnership to offer alternative energy warranty solutions.
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FAQ

What is the current stock price of Skyward Specialty Insurance Group (SKWD)?

The current stock price of Skyward Specialty Insurance Group (SKWD) is $50.8 as of December 28, 2024.

What is the market cap of Skyward Specialty Insurance Group (SKWD)?

The market cap of Skyward Specialty Insurance Group (SKWD) is approximately 2.0B.

What does Skyward Specialty Insurance Group, Inc. do?

Skyward Specialty offers a wide range of commercial property and casualty insurance products and solutions on non-admitted and admitted bases.

What types of insurance does Skyward Specialty provide?

The company provides general liability, excess liability, professional liability, commercial auto, group accident, health, property, surety, and workers' compensation insurance.

How is Skyward Specialty performing financially?

For the first quarter of 2024, Skyward Specialty reported a net income of $36.8 million, or $0.90 per diluted share, reflecting significant financial growth compared to the same period in 2023.

Who are the new leaders at Skyward Specialty?

Recent leadership appointments include Mark Boland for Transactional E&S, Rick Childs for Construction, Doug Davies for Global Property, and others.

What subsidiaries does Skyward Specialty have?

Skyward Specialty's subsidiaries include Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company.

How are Skyward Specialty's subsidiaries rated?

Skyward Specialty's subsidiaries are rated A- (Excellent) by A.M. Best Company with a positive outlook.

What recent partnerships has Skyward Specialty announced?

Skyward Specialty partnered with New Heights Insurance to offer specialized insurance coverage for crane rental operators and millwright operations.

Where can I find more information about Skyward Specialty?

For more information, visit their official website at skywardinsurance.com.

Who can I contact for media inquiries?

For media inquiries, you can contact Haley Doughty at hdoughty@skywardinsurance.com or 713-935-4944.

What is Skyward Specialty’s stock symbol?

Skyward Specialty Insurance Group, Inc. trades under the stock symbol SKWD on NASDAQ.
Skyward Specialty Insurance Group, Inc.

Nasdaq:SKWD

SKWD Rankings

SKWD Stock Data

2.04B
34.96M
12.81%
99.01%
2.11%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
Link
United States of America
HOUSTON