Skyward Specialty Insurance Group, Inc. ( (SKWD) ) has provided an update.
On January 31, 2025, Skyward Re, a subsidiary of Skyward Specialty Insurance Group, commuted its Loss Portfolio Transfer and Adverse Development and Retrocession Agreement with R&Q Re, receiving $11.7 million in cash and strengthening loss reserves by $25.3 million. The company reported strong preliminary fourth quarter 2024 results with a 20.8% increase in gross written premiums to $388.4 million and net income of $14.4 million. Looking ahead to 2025, Skyward Specialty anticipates net income between $138.0 million and $150.0 million and a combined ratio between 91.0% and 92.0%, reflecting a positive outlook for continued growth and strategic investments in its business divisions.
More about Skyward Specialty Insurance Group, Inc.
Skyward Specialty Insurance Group, Inc. is a rapidly growing specialty insurance company that offers commercial property and casualty products and solutions on both non-admitted and admitted basis. Operating through eight underwriting divisions, the company provides services in areas such as Accident & Health, Captives, Global Property & Agriculture, and more. Its subsidiary companies include Houston Specialty Insurance Company and others, all of which are rated A (Excellent) by A.M. Best Company.
YTD Price Performance: -4.69%
Average Trading Volume: 319,321
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $1.87B
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