Skyward Specialty Insurance

Intact Insurance’s Regina Williams and Sandi McIntosh joined the new team in December.

The Aspen IPO provides an opportunity to benefit from the specialty market without commensurate prior-year reserve risks due to an LPT cover.

Over a 40-year career, the executive has held numerous high-level positions in the insurance and investment industries.

In addition, Westaim COO Robert Kittel also resigned from Skyward’s board while Tony Kuczinski was named lead independent director.

The offering sold 3.6mn shares priced at $30.50 apiece and brought in approximately $104.9mn.

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With the fundraising, Skyward will capitalize on market opportunities within existing lines of business, but also continue to expand into new products.

CEO Robinson said Skyward continues to see “strong submission activity” as business flow rose over 20% year-on-year.

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The carrier has appointed Scott Bailey as vice president of field operations for contract surety, among seven recent hires.

The alternative energy warranty captive solutions will be available throughout the United States and Canada.

The upgrade follows a period of underwriting volatility, with management instituting several initiatives to refine underwriting focus and risk selections as a specialty lines writer.