Skyward Specialty Insurance Group Inc (SKWD) News & EventsSKWDSkyward Specialty Insurance Group Inc

Skyward Group Q1 Revenue $475.87M Beats Expectations

Reports Q1 revenue $475.87M, consensus $406.4M. Skyward Group Chairman and CEO Andrew Robinson commented, "We are off to an excellent start to the year as we report our first quarter consolidated results for Skyward Specialty and Apollo under the Skyward Group brand. Diluted operating EPS of $1.25 increased 39% year over year, driven by strong underlying earnings growth and the accretive consolidation of Apollo. Our annualized operating return on equity of 20% reflects the strength and quality of our performance. We delivered an outstanding combined ratio of 89.5%, inclusive of 1.8 points of catastrophe losses. Pro forma gross written premiums growth of 10% was solid, while total managed premiums grew 20%, including 49% growth in fee generating gross written premiums, an encouraging early indicator of the fee based earnings growth we expect over time. Most importantly, the continued diversification of our portfolio, particularly in lines with lower exposure to P&C underwriting cycles, positions us to deliver strong top-line and bottom-line results in a disciplined manner, consistent with our commitment to top-quartile performance across the market cycle."

Skyward Group Q4 Revenue $385.59M Beats Expectations

Reports Q4 revenue $385.59M, consensus $380.86M. Reports Q4 tangible book value per share $21.79. Skyward Group chairman and CEO Andrew Robinson commented, "The fourth quarter was another excellent quarter and capped off a truly transformational year for the Company. Similar to the previous three quarters, we delivered Company bests in adjusted operating income, underwriting income and the combined ratio of 88.5%. Our gross written premiums growth in the quarter of 13% culminated a year of 24% growth, and our return on equity and return on tangible equity of 18.9% and 20.9%(1) respectively for the full year are simply outstanding."