05:36 PM EDT, 09/02/2025 (MT Newswires) -- Skyward Specialty Insurance Group ( SKWD ) said late Tuesday it has agreed to acquire Apollo Group Holdings for $555 million from Alchemy, management, employees, and other investors.

Under the deal, $184 million will be paid in stock to employees and investors, while $371 million will be paid in cash, backed by committed debt financing, the specialty insurance company said.

Skyward estimates double-digit adjusted operating earnings per share accretion in the first year after closing the deal and more than $1.5 billion in managed premium.

The deal is set to close in Q1 next year, pending regulatory approvals, the company said.