Skyward Specialty Insurance Group Inc. Common Stock Earnings Recaps
Q1 2026
May 10, 2026
Shares rose 6.5% following results that showcased better-than-expected earnings momentum and premium growth, driven by the Apollo acquisition and strong operating performance across segments.
Key takeaways
- Diluted operating EPS reached $1.25, up 39% year over year, reflecting combined company synergies and accretion from Apollo.
- Gross written premiums grew 10% on a pro forma basis, with managed premiums up 20%, including a 49% increase in fee-generating premiums to $300 million.
- Skyward Specialty’s combined ratio improved to 88.9 (86.8 ex-cat), while Apollo delivered an 85.3 combined ratio with no catastrophe losses this quarter.
- Annualized operating return on equity stood at 20.3%, underscoring robust earnings power.
- Net investment income increased by $7.5 million year over year to $27 million, supported by a $2.7 billion invested portfolio dominated by fixed income.
Q3 2025
Oct 31, 2025
Skyward Specialty reported a robust Q3 2025, achieving record operating income and a significant 52% growth in gross written premiums, underscoring the effectiveness of its diversified portfolio strategy.
Key takeaways
- Operating income reached $44 million, while net income totaled $45.9 million, resulting in adjusted EPS of $1.05.
- Achieved a combined ratio of 89.2%, highlighting strong underwriting performance amid a competitive P&C market.
- The Agricultural unit emerged as a key driver of growth, particularly in the U.S. dairy and livestock sectors.
- Net written premiums increased by 64%, with retention ratio improving to 65.1% from 62.9% year-over-year.
- Preparation for the anticipated Apollo acquisition is on track, expected to enhance specialty capabilities and underwriting talent, with closing projected in early Q1 2026.