Overview

* Skyward Specialty Q2 net income rises to $38.8 mln, or $0.93 per share

* Gross written premiums increase 17.9% yr/yr, driven by key divisions

* Company achieves a combined ratio of 89.4%, reflecting strong underwriting

Result Drivers

* PREMIUM GROWTH - Double-digit premium growth from agriculture, credit (re)insurance, specialty programs, accident & health, and captives divisions

* UNDERWRITING PROFITABILITY - Improved combined ratio attributed to specialized underwriting and claims capabilities

* MARKET DIVERSITY - Portfolio diversity and capital deployment to attractive markets helped manage volatility

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Gross $584.90

written mln

premiums

Q2 EPS $0.93

Q2 Net $38.80

Income mln

Q2 $37.10

Adjusted mln

Operatin

g Income

Q2 89.4%

Combined

Ratio

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy"

* Wall Street's median 12-month price target for Skyward Specialty Insurance Group Inc ( SKWD ) is $65.00, about 21.7% above its July 29 closing price of $50.91

* The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)