Skyward Specialty Insurance Group, Inc. (SKWD) Q4 2024 Earnings Call Transcript
Adjusted Operating Income (Quarter) $33.2 million (up 57% year-over-year) driven by outstanding underwriting and investment results.
Adjusted Operating Income (Per Diluted Share) $0.80 (up 28% year-over-year) reflecting strong performance in underwriting and investments.
Net Income (Quarter) $14.4 million or $0.35 per diluted share.
Gross Written Premiums (Quarter) 21% growth for the quarter, with contributions from surety, programs, captives, transactional E&S, and agriculture.
Gross Written Premiums (Year) 19% growth for the year, attributed to a strategic shift in the portfolio.
Net Written Premiums (Year) 23% growth for the year, indicating strong retention and growth in less P&C cycle exposed areas.
Retention Rate 64.5% (up from 62.4% year-over-year), showing improved customer retention.
Adjusted Combined Ratio (Quarter) 91.6%, including 2.2 points of cat losses from Hurricane Milton.
Adjusted Operating Combined Ratio (Year) 91.2%, slightly elevated due to a marginal increase in cat loss ratio.
Net Investment Income (Quarter) $20.7 million (up over $40 million year-over-year), driven by a larger invested asset base and improved portfolio yield.
Net Investment Income (Year) $80.7 million, reflecting a strategic shift to fixed income investments.
Embedded Yield (December 31) 5.1% (up from 4.8% year-over-year), indicating improved investment performance.
Debt to Capital Ratio 13%, indicating modest financial leverage and ample debt financing flexibility.
IBNR (Incurred But Not Reported) Reserves 69% of total reserves (up from 63% year-over-year), reflecting a strong reserve position.
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Skyward Specialty Insurance Group to Release Q4 2025 Earnings on February 23
- Earnings Release Schedule: Skyward Specialty Insurance Group is set to announce its Q4 2025 earnings after market close on February 23, 2026, with results available on the company website, ensuring timely access to critical financial information for investors.
- Earnings Call Details: The company will host an earnings call on February 24, 2026, at 8:30 a.m. EST, allowing investors to register for dial-in information and a unique PIN, enhancing engagement with management during the financial review.
- Acquisition Impact Clarification: The Q4 and year-end 2025 financial results will not include Apollo Group Holdings Ltd.'s financials due to the acquisition closing on January 1, 2026, highlighting the company's strategic planning in integrating new assets.
- Company Background Overview: Skyward Group serves as the holding company for its U.S. and Lloyd's businesses, focusing on delivering specialized insurance solutions for complex risks, aiming to drive sustainable growth and long-term shareholder value through disciplined execution and forward-looking insights.
Skyward Specialty Expands E&S Property Insurance with New Excess Coverage
- Market Expansion: Skyward Specialty Insurance Group announces the addition of Excess coverage to its E&S Property offering, reflecting its ongoing investment and leadership in the specialty property and casualty insurance market.
- Strategic Execution: This expansion aligns with the company’s “Rule Our Niche” strategy, aiming to address the complex property risk demands that traditional markets fail to meet, thereby enhancing its competitive position.
- Leadership Enhancement: The appointment of Christopher Zitzmann as president of Inland Marine and Transactional E&S aims to further advance the company’s leadership in these highly specialized markets, ensuring the delivery of tailored solutions.
- Underwriting Capacity Boost: By expanding its excess coverage capabilities, Skyward Specialty strengthens its ability to support technically complex, non-catastrophe property risks, addressing the growing needs of clients and partners.
