Overview

* Skyward Specialty Q3 net income rises to $45.9 mln, up from $36.7 mln in 2024

* Gross written premiums increase 51.6% yr/yr, driven by agriculture and credit (re)insurance

* Company achieves Q3 combined ratio of 89.2%, indicating improved underwriting performance

Outlook

* Company expects Apollo acquisition to close early next year

* Skyward Specialty confident in outlook for remainder of year

Result Drivers

* PREMIUM GROWTH - Gross written premiums rose 51.6%, driven by agriculture and credit (re)insurance division

* COMBINED RATIO IMPROVEMENT - Achieved a Company-best combined ratio of 89.2%, reflecting improved underwriting performance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Gross $606.50

written mln

premiums

Q3 EPS $1.10

Q3 Net $45.90

Income mln

Q3 $44 mln

Adjusted

Operatin

g Income

Q3 89.20%

Combined

Ratio

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "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 $62.00, about 27.2% above its October 28 closing price of $45.14

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

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(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.)