Skyward Specialty Insurance Group Reports Strong 2024 Results

Skyward Specialty Insurance Group, Inc. ( (SKWD) ) has released its Q4 earnings. Here is a breakdown of the information Skyward Specialty Insurance Group, Inc. presented to its investors.

Skyward Specialty Insurance Group, Inc. is a specialty insurance company offering commercial property and casualty products through various underwriting divisions, operating in both non-admitted and admitted markets. The company recently reported its fourth quarter 2024 financial results, highlighting a net income of $14.4 million, a decrease from $29.3 million in the same period of 2023, but an increase in annual net income to $118.8 million from $86.0 million in 2023. Key financial metrics for the quarter included a 20.8% increase in gross written premiums to $388.4 million and an adjusted combined ratio of 91.6%. The company also reported a return on equity of 16.3% for the year, up from 15.9% in 2023, and a book value per share increase of 18% to $19.79. Skyward Specialty’s strategic initiatives in 2024 included diversifying its product portfolio with new units in Media Liability, Life Sciences, Mortgage and Credit, and Renewable Energy. Looking ahead, the company remains confident in its strategic direction and foundation for continued growth in 2025 and beyond.