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 (NASDAQ: SKWD) is set to announce its first-quarter 2023 earnings results post-market on May 9, 2023. The financial results will be accessible on the company’s investor website. An earnings call will follow on May 10 at 10 a.m. CST, allowing investors to hear a detailed financial review. Skyward Specialty operates across eight underwriting divisions, providing innovative commercial property and casualty insurance solutions. Its subsidiaries hold an A- (Excellent) rating from A.M. Best Company, reinforcing its market position as a rapidly growing player in the specialty insurance sector.
Skyward Specialty Insurance Group (NASDAQ: SKWD) announced key leadership changes to enhance its Captives and Programs divisions. Ryan Burke has been promoted to Vice President, Specialty Programs, bringing valuable experience from his previous roles at Swiss Re and Travelers. Amy Klatt has been elevated to Senior Vice President, Captives and Programs Claims, leveraging her extensive background with Berkshire Hathaway and Gallagher Bassett. Kirby Hill, president of Industry Solutions, emphasized that these appointments will drive innovation and bolster services for partners and customers, marking a strategic shift as the company continues to expand in the specialty insurance market.
Skyward Specialty Insurance Group (Nasdaq: SKWD) has announced its entry into the global agriculture market by appointing James Tran as Senior Vice President, Global Agriculture. Tran, who has over 20 years of experience in global agriculture underwriting, will lead the initiative to provide secondary and reinsurance solutions for various agricultural sectors, including food crops, livestock, and aquaculture. CEO Andrew Robinson expressed confidence in Tran's leadership to build a diversified agriculture portfolio. This move aims to address increasing agricultural risks due to climate change and support sustainable practices worldwide.
Skyward Specialty Insurance Group reported strong financial results for Q4 2022, achieving a net income of $20.4 million or $0.63 per diluted share, compared to $1.3 million or $0.04 per diluted share in Q4 2021. Gross written premiums rose 18.1% year-over-year, while net investment income jumped 30.6% to $5.3 million. The combined ratio improved significantly to 92.4% from 106.8% in the previous year, illustrating enhanced underwriting efficiency. CEO Andrew Robinson emphasized the company's disciplined approach and diverse portfolio, paving the way for continued growth in 2023.
Skyward Specialty Insurance Group (NASDAQ: SKWD) has appointed Havis Wright to lead its new inland marine underwriting unit, enhancing its industry solutions division. With nearly 20 years of underwriting experience, Wright aims to address the growing needs in niche markets such as Logistics and Construction. His addition aligns with the company’s strategy to attract top talent for specialized markets. The new inland marine solution will roll out on March 17, enhancing existing coverages within Skyward's Construction and Energy portfolios. The company operates multiple divisions and maintains a strong A- rating from A.M. Best.
Skyward Specialty Insurance Group (NASDAQ: SKWD) will release its fourth-quarter 2022 earnings results on February 28, 2023, after market close. The results will be accessible on the company’s investor website. An earnings call is scheduled for March 1, 2023, at 10 a.m. CST, where investors can participate through a live audio webcast or via conference call with prior registration. Skyward Specialty provides specialty insurance products across various sectors, operating through eight underwriting divisions. The company’s subsidiaries are rated A- (Excellent) by A.M. Best.
Skyward Specialty Insurance Group has launched a new occupational accident insurance product aimed at independent contractors in the gig economy, covering sectors such as trucking and last-mile delivery.
This innovative solution seeks to simplify traditional insurance models, enhancing driver coverage and accessibility while lowering costs linked to work injuries. The program is designed to address the growing number of independent contractors, ensuring they have immediate access to work injury benefits.
Available from February 7, this offering reflects Skyward's commitment to modernizing occupational accident insurance to meet evolving industry needs.
Skyward Specialty Insurance Group has successfully completed its upsized initial public offering, closing on 8,952,383 shares at $15.00 per share. Out of these, 4,750,000 shares were sold by the company and 4,202,383 by selling stockholders. The underwriters exercised their option for an additional 1,342,857 shares, also at $15.00 per share. The registration statement was effective as of January 12, 2023, and the stock is now listed on the Nasdaq Global Select Market under the ticker symbol SKWD. The offering was managed by major banking institutions, highlighting strong market interest.
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?
