Skyward Specialty

Skyward Specialty partners with New Heights, expanding crane and millwright offerings

Skyward Specialty Insurance Group and New Heights Insurance Solutions, a division of Specialty Program Group LLC, have partnered to enhance crane and millwright capabilities for both entities.

Skyward Specialty promotes six business line presidents

Skyward Specialty Insurance Group has handed six of its business leaders – Mark Boland, Rick Childs, Doug Davies, Jim Mormile, Matthew Semeraro and Rob Roberts – elevated titles to reflect their contributions.

Skyward’s Robinson calls ’23 “truly defining year” as strong submission flow continues

Skyward CEO Andrew Robinson called 2023 “truly a defining year” for the insurer as it posted double-digit growth in seven of its underwriting divisions in the fourth quarter and continued to generate rate increases in excess of loss cost trends.

Skyward in narrow Q4 earnings beat as CR improves 170bps to 90.7%

Skyward Specialty Insurance Group eked out a narrow Q4 2023 earnings beat as its combined ratio improved 1.7 points to 90.7 percent on the back of lower catastrophe and non-catastrophe loss ratios.

Aspen pivot to potential SiriusPoint deal a possible bellwether for other 2024 IPOs

Specialty businesses eyeing public listings in 2024 have been keen observers of Aspen’s proposed IPO, so news of reverse merger talks with SiriusPoint – and underwhelming flotations by Fidelis and Hamilton in 2023 – could signal a chill on the IPO market this year.

Skyward Specialty launches media liability offering led by Intact’s Williams

Skyward Specialty has recruited Regina Williams and Sandi McIntosh from Intact Specialty Solutions to launch a new media liability offering focused on multimedia, film and ad agency businesses.

Mike Morrissey added to Skyward Specialty board of directors

Skyward Specialty Insurance Group has appointed former International Insurance Society CEO Mike Morrissey to its board of directors.

Skyward names Robinson board chair and Kuczinski lead independent director

Skyward Specialty has appointed CEO Andrew Robinson to the additional role of board chair and named former Munich Re US CEO Tony Kuczinski lead independent director, with the current chair and Westaim Corporation CEO Cameron MacDonald stepping down.

Skyward upsizes follow-on offering 32% amid strong investor demand

Skyward Specialty has upsized its secondary offering 32 percent amid heavy investor demand as it set the price at $30.50 per share, a modest 2.3 percent discount to the stock’s pre-announcement closing price.

Skyward doubles down on specialty hard market with ~$65mn equity raise

Skyward Specialty has launched a capital raise through the public offering of 4.5mn of its common shares as it looks to target further growth opportunities including in the E&S sector during the prolonged hard market phase of the cycle.

Skyward CEO Robinson says submission activity up 20%, hails “outstanding” quarter

Skyward Specialty’s Andrew Robinson said the firm’s 90.2 percent Q3 CR was its best ever, highlighting aggregate price increases in the “mid-teens” and revealing that submission flow at the carrier is up 20 percent from last year.

Skyward Specialty shares close up 10% following Q3 earnings beat

Shares in Skyward Specialty closed up 10.2 percent on Tuesday, following the Houston-based specialty carrier’s third quarter earnings report which included a 9.6 point improvement in combined ratio to 90.2 percent.

Skyward Specialty Q3 CR improves 9.6 pts to 90.2% with GWP up 32%

Skyward Specialty has reported a third quarter earnings beat including a 9.6 point improvement in the combined ratio to 90.2 percent, and 31.6 percent growth in gross written premiums to $355.7mn.

Skyward and eMaxx expand captives partnership to alternative energy warranty products

Skyward Specialty is to provide strategic support and additional capacity for eMaxx’s variable alternative energy warranty products captive solutions.

Core Specialty considering joining the ranks of specialty P&C IPOs

If Core Specialty decides later this year to go forward with a public listing – which could value the firm at more than $2bn – it will be another test of investor sentiment towards the group of start-ups and recapitalised companies that emerged in recent years to target hard market conditions.

Skyward Specialty launches E&S solution for individual healthcare providers

Skyward Specialty Insurance Group has brought a new healthcare E&S liability solution targeted at individual providers, including physicians, to market, in a bid to fill what the expansive carrier described as “a significant gap”.

AM Best goes positive on Skyward’s A- rating after improved performance under Robinson

AM Best has revised the outlooks to positive from stable for the subsidiaries of Skyward Specialty’s A- (Excellent) financial strength ratings in response to improving underwriting results since 2020 following a change in executive leadership.

Robinson: Skyward sees Q2 double-digit rate increases with “big step up” in property

Andrew Robinson has reported that Skyward Specialty achieved double-digit pure rate increases in Q2, with all divisions consistent or above the prior quarter and global property seeing a significant increase – but the CEO noted that the insurer has not increased its cat writing significantly.

Skyward Specialty grows Q2 GWP 29% as underlying CR improves 3.1pts to 88.7%

Skyward Specialty grew second quarter underwriting income 29 percent to $16mn, shaving 2.1pts off its core loss ratio and cutting its expense ratio while growing gross written premiums in the quarter by 29 percent, beating analysts’ estimates.

Skyward Specialty hires Nizzi to lead captives unit

Skyward Specialty Insurance Group has hired Robert Nizzi as senior vice president to lead the captives division.

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