Skyward Specialty Launches Aviation Program in Partnership With Acceleration Aviation
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.
Skyward Specialty Insurance Group (Nasdaq: SKWD) ha stretto una collaborazione con Acceleration Aviation Underwriters per lanciare un programma completo di assicurazione aviatica. La nuova offerta copre una vasta gamma di attività legate all'aviazione, inclusi gli aerei commerciali e generali, gli operatori fissi, le scuole di volo e gli aeroporti. Questa mossa strategica mira a affrontare le sfide della capacità e della copertura nel mercato dell'assicurazione aviatica.
Kirby Hill, presidente di Captives, Programs & Alternative Risk presso Skyward Specialty, ha sottolineato come la partnership si allinei con la strategia dell'azienda di rivolgersi a mercati trascurati. Chris Jones, presidente di Acceleration Underwriters, ha espresso entusiasmo per il contributo al successo di Skyward Specialty nel mercato P&C attraverso questa collaborazione.
Skyward Specialty Insurance Group (Nasdaq: SKWD) se ha asociado con Acceleration Aviation Underwriters para lanzar un programa integral de seguros de aviación. La nueva oferta cubre una amplia gama de negocios relacionados con la aviación, incluidos aviones comerciales y generales, operadores fijos, escuelas de vuelo y aeropuertos. Este movimiento estratégico tiene como objetivo abordar los desafíos de capacidad y cobertura en el mercado de seguros de aviación.
Kirby Hill, presidente de Captives, Programs & Alternative Risk en Skyward Specialty, enfatizó la alineación de la asociación con la estrategia de la compañía para dirigirse a mercados desatendidos. Chris Jones, presidente de Acceleration Underwriters, expresó su entusiasmo por contribuir al éxito de Skyward Specialty en el mercado de P&C a través de esta colaboración.
Skyward Specialty Insurance Group (Nasdaq: SKWD)가 Acceleration Aviation Underwriters와 협력하여 포괄적인 항공 보험 프로그램을 출시했습니다. 새롭게 제공되는 프로그램은 상업 항공기와 일반 항공기, 고정 기반 운영자, 비행 학교 및 공항을 포함한 다양한 항공 관련 비즈니스를 보장합니다. 이 전략적 조치는 항공 보험 시장에서의 용량 및 보장 문제를 해결하는 것을 목표로 합니다.
Skyward Specialty의 Captives, Programs & Alternative Risk 부문 회장인 Kirby Hill은 파트너십이 회사의 전략과 어떻게 일치하는지를 강조했습니다. Acceleration Underwriters의 회장인 Chris Jones는 이번 협력을 통해 Skyward Specialty의 P&C 시장에서의 성공에 기여할 수 있게 되어 기쁘다고 전했습니다.
Skyward Specialty Insurance Group (Nasdaq: SKWD) s'est associée à Acceleration Aviation Underwriters pour lancer un programme d'assurance aéronautique complet. La nouvelle offre couvre une large gamme d'entreprises liées à l'aviation, y compris les avions commerciaux et généraux, les opérateurs fixes, les écoles de pilotage et les aéroports. Ce mouvement stratégique vise à relever les défis de capacité et de couverture sur le marché des assurances aéronautiques.
Kirby Hill, président des Captives, Programs & Alternative Risk chez Skyward Specialty, a souligné l'alignement du partenariat avec la stratégie de l'entreprise visant à cibler les marchés négligés. Chris Jones, président d'Acceleration Underwriters, a exprimé son enthousiasme à contribuer au succès de Skyward Specialty sur le marché P&C grâce à cette collaboration.
Skyward Specialty Insurance Group (Nasdaq: SKWD) hat eine Partnerschaft mit Acceleration Aviation Underwriters geschlossen, um ein umfassendes Luftfahrtversicherungsprogramm zu starten. Das neue Angebot umfasst eine breite Palette von luftfahrtbezogenen Unternehmen, einschließlich gewerblicher und allgemeiner Luftfahrzeuge, stationärer Betreiber, Flugschulen und Flughäfen. Dieser strategische Schritt zielt darauf ab, die Herausforderungen von Kapazität und Versicherungsschutz im Luftfahrtversicherungsmarkt zu bewältigen.
Kirby Hill, Präsident von Captives, Programs & Alternative Risk bei Skyward Specialty, betonte die Übereinstimmung der Partnerschaft mit der Strategie des Unternehmens, unzureichend bediente Märkte anzusprechen. Chris Jones, Präsident von Acceleration Underwriters, äußerte sich begeistert, zum Erfolg von Skyward Specialty im P&C-Markt durch diese Zusammenarbeit beitragen zu können.
- 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
- None.
Insights
The partnership between Skyward Specialty and Acceleration Aviation represents a strategic move into the underserved aviation insurance market. This expansion aligns with Skyward Specialty's growth strategy and could potentially open up new revenue streams. However, the financial impact remains uncertain without specific projections or market size data.
The aviation sector's unique risks and regulatory environment may require significant underwriting expertise and capital allocation. While this venture could diversify Skyward Specialty's portfolio, it also exposes them to new risks. Investors should monitor how this program affects the company's loss ratios and combined ratio in upcoming quarters to gauge its success and profitability.
This partnership addresses a critical gap in the aviation insurance market, potentially positioning Skyward Specialty as a key player in this niche. The comprehensive coverage offered, spanning commercial and general aviation aircraft, fixed-based operators and airports, demonstrates a thorough understanding of the sector's needs.
The collaboration with Acceleration Aviation brings specialized expertise, which is important for accurately assessing and pricing risks in the complex aviation industry. This move could enhance Skyward Specialty's competitive edge, but success will depend on their ability to balance risk exposure with profitable underwriting. The program's performance will be a key indicator of Skyward Specialty's capacity to expand successfully into specialized markets.
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
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