Skyward Specialty Insurance reports Q3 EPS 71c, consensus 65c

Reports Q3 gross written premiums of $400M an increase of 12.4% compared to the third quarter of 2023..Skyward Specialty Chairman and CEO Andrew Robinson commented, “These past weeks have proven to be a very difficult time and our thoughts continue to be with those impacted by Hurricanes Helene and Milton; I am proud of the extraordinary efforts of our claims team and partners who continue to deliver exceptional service to our customers affected by these catastrophes.””As for our third quarter, our results reflect our continued excellent execution of our “Rule our Niche” strategy, and our disciplined underwriting and our strategic risk management. Our adjusted operating income was up nearly 18% over the prior year quarter, continuing the trend of strong earnings growth we have delivered every quarter as a public company, and our 19.1% annualized return on equity year to date is outstanding. We delivered gross written premiums growth of 12.4% over the prior year quarter while continuing to increase our mix of business to areas that are less exposed to the P&C cycles. Given investments into our business, the momentum building in certain divisions, and with full consideration for the market backdrop, I am confident that we are well positioned to deliver strong growth as we look forward to the coming quarters.”