Skyward Specialty Insurance Reports 50.4% Increase in Net Earned Premiums for Q2 2026

Skyward Specialty Insurance Group, Inc. reported significant financial growth in its latest quarterly results, driven by a combination of increased premiums and the recent acquisition of Apollo Group Holdings Limited. For the second quarter of 2026, the company recorded net earned premiums of $444.5 million, a 50.4% increase from $295.5 million in the same period last year. The total revenues for the quarter reached $489.5 million, up from $319.9 million in the prior year, reflecting a 53% year-over-year growth. Net income for the quarter was $49.0 million, compared to $38.8 million in the second quarter of 2025, marking a 26.5% increase.

The company’s financial performance was bolstered by the Apollo acquisition, which closed on January 1, 2026. The acquisition, valued at approximately $559.1 million, included $371.1 million in cash and the issuance of 3.68 million shares of common stock. This strategic move is expected to enhance Skyward's specialty insurance platform and expand its market presence. The Apollo segment contributed $72.8 million in gross written premiums for the second quarter, marking a new revenue stream for the company.

Operationally, Skyward Specialty saw a notable increase in its customer base and engagement metrics. The total gross written premiums for the Skyward Specialty segment reached $740.6 million in the second quarter, a 26.6% increase from $584.9 million in the same quarter of 2025. The company reported a combined ratio of 89.5%, indicating effective cost management and underwriting performance. The increase in premiums was primarily driven by growth in the global agriculture, accident & health, and specialty programs divisions, although some divisions, such as energy solutions, experienced declines due to non-renewals.

Skyward Specialty's total assets increased significantly to $6.78 billion as of June 30, 2026, up from $4.79 billion at the end of 2025. This growth was largely attributed to the acquisition of Apollo and an increase in investments, which totaled $2.74 billion, compared to $2.30 billion at the end of the previous fiscal year. The company also reported a rise in liabilities, which reached $5.51 billion, up from $3.78 billion, primarily due to increased reserves for losses and loss adjustment expenses.

Looking ahead, Skyward Specialty remains optimistic about its growth trajectory, particularly with the integration of Apollo's operations and the expansion of its product offerings. The company anticipates continued revenue growth driven by its diversified portfolio and strategic focus on underserved markets. Management emphasized the importance of maintaining strong underwriting discipline and operational efficiency to navigate potential market challenges while capitalizing on emerging opportunities in the specialty insurance sector.