Skyward Specialty Insurance

Dairy and livestock products within the agricultural unit were main growth drivers in Q3.

The Insurance Insider US news team runs you through the earnings results for the day.

The executive joins from MSIG USA.

Andrew Robinson returns to Lloyd’s after his previous involvement via The Hanover’s Chaucer deal.

Apollo executives David Ibeson and James Slaughter are committed to the future as a combined entity.

The US specialty carrier announced Tuesday that it was buying the Lloyd's business for $555mn.

In June, this publication revealed that Apollo had appointed Evercore and Howden to run a process.

In liability, the carrier is steering away from where inflation has been volatile.

The Insurance Insider US news team runs you through the earnings results for the day.

The acquisition follows a strategic partnership the two struck last August.

The latest E&S player planning to IPO remains a “show me” story.

The former leader, Kirby Hill, will assume the role of chairman, captives and specialty programs.

The CEO spoke after Chubb chief executive Evan Greenberg’s call to action at RIMS.

The Insurance Insider US news team runs you through the earnings results for the day.

Sills’ background, a strong backing, and laser-sharp E&S focus make Bowhead stand out.

The unfunded commitment related to the investment was $24.4mn in 2024.

Approximately 12% to 13% of Skyward’s premium was in commercial auto in Q4.

The Insurance Insider US news team runs you through the earnings results for the day.

The specialty carrier expects to report a 91.6% Q4 CoR and GWP growth of 20.8% to $388.4mn.

In the quarter, the company reported a CoR of 92.3%, up two points YOY.

The Insurance Insider US news team runs you through the earnings results for the day.

Westaim reported roughly $79mn in net proceeds from the sale.

The executive noted that limits on sourcing funds alone won’t have a material effect.

The Insurance Insider US news team runs you through the earnings results for the day.

The upgrade cited improved underwriting performance.

A quick round-up of today’s need-to-know news, including Ryan Specialty and Skyward Specialty.

In an interview with Insurance Insider US, Robinson spoke about life after the IPO, talent, litigation financing and cat.

His experience includes HPR engineering, facultative reinsurance and E&S underwriting.

The specialty insurer reported 27.2% Q1 top-line growth and a lower CoR of 89.6%.

The Insurance Insider US news team runs you through the earnings results for the day.

The firm’s Q4 GWP grew over 21% fueled by surety, transactional E&S and captives.

The Insurance Insider US news team runs you through the earnings results for the day.

It is understood that the cyber InsurTech has ~$100mn of excess delegated authority capacity and around 20 backers.

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.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

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.

The Inside P&C news team runs you through the earnings results for the day.

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.

Skyward saw 15%-20% risk-adjusted rate increases during its property cat renewals as its attachment point rose to $12mn from $10mn the year before.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The Inside P&C news team runs you through the earnings results for the day.

Before working at ICS, Robert Nizzi spent over six years at Enterprise Risk Strategies, where he was president until 2017.

The Canadian investment company sold 3.85 million shares of common stock, priced at $23 per share.

Need to Know

Skyward Specialty Insurance completed its initial public offering at the beginning of the year.

Inside P&C’s news team runs you through the key highlights of the week.

Anthony Kuczinski spent 34 years at Munich Re, serving as president and CEO for 15 years of Munich Reinsurance US Holdings until December 2022.

Strong results reflect tailwinds in the E&S space, but social inflation will be a trend to watch.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Skyward’s surety book grew over 50% in Q1 after the company invested in a new surety platform with industry analytics.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The specialist’s ex-cat LR improved 2.4 points to 61.1% benefitted by the continued run-off of exited lines and the shift in the mix of business.

The Fidelis IPO has no clear precedent, but there is an appetite for investment in the specialty space, as seen earlier this year with the Skyward public listing.

Tran also previously held various leadership roles at Tokyo Marine Kiln, XL Catlin, and Catlin Group.

Those two lines, along with transactional E&S and captives, generated gross written premium growth of over 35% in the fourth quarter of 2022.

The carrier’s Q4 underwriting results benefited from a shift in the mix of its portfolio, continued run-off of some exited businesses and lower catastrophe losses.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Skyward shares shot up over 27% this morning to $19.15 per share, a development which will likely be closely watched by some carriers with IPO aspirations.

The flotation is expected to close around 18 January.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

A total of 9.775 million shares will be offered, priced between $14 and $16.

Skyward Specialty has indicated its intent to IPO at a time when investors may be looking for good entry points, though the window of opportunity may be closing.

The specialty insurer said the number of shares to be offered and the price range for the proposed offering have not yet been determined.

The two new members have served senior executive roles across insurance and finance industries, bringing more than 50 years of industry experience. 

Logue was most recently at ProAssurance as assistant vice president of miscellaneous medical.

The specialty line carrier’s combined ratio improved by 2.4 points to 91.8% during the quarter.

Skyward’s loss ratio declined 5.6 points to 63.5%, outweighing higher expenses in the quarter.

Inside P&C’s news team runs you through the key developments from the week.

The specialty insurer is trying to catch the end of favorable sector conditions, and macro conditions that could still support a listing if they stabilize.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Sources said that the company is not using the listing to flush out potential trade or PE bidders.

The company disclosed its IPO intentions early Tuesday saying the number of shares to be offered and the price range for the proposed offering have not yet been determined.

The new offerings target non-standard non-profit condominium and homeowner associations.

Brewer will serve as commercial surety VP, while Kearney will oversee Skyward’s E&S general liability team.

The carrier’s underlying loss ratio, excluding the effects of catastrophes and prior-year developments, improved to 63% in Q3 from 68.8% the previous year.

Houston-based Skyward Specialty now offers D&O and E&O coverage for cannabis companies in a move to tap the growing market.

The hires mark Skyward’s latest expansion in the line, after the carrier acquired the $30mn-premium Aegis Surety business from MGA-consolidator K2 Insurance Services in January.

Speakers and panelists pondered the future – specifically InsurTechs, social inflation and low investment yields.

Skyward Specialty has formed a partnership with flood MGA reThought to provide up to $20mn of per risk primary and excess capacity for a broad range of classes, the companies announced on Tuesday.

Skyward Specialty Insurance Group has hired a pair of healthcare professional liability underwriters, in a move that follows that arrival of QBE executive John Burkhart as specialty lines president in January.