Skyward Specialty Insurance Group, Inc. reported significant financial growth in its first quarter of 2026, driven by the recent acquisition of Apollo Group Holdings Limited. The company recorded net earned premiums of $434.0 million, a 44.5% increase from $300.4 million in the same period last year. Total revenues reached $475.9 million, up from $328.5 million, reflecting a 44.9% year-over-year growth. The net income for the quarter was $49.7 million, compared to $42.1 million in the prior year, resulting in basic earnings per share of $1.12, up from $1.05.
The acquisition of Apollo, completed on January 1, 2026, was a pivotal strategic move for Skyward, expanding its specialty insurance offerings and enhancing its market position. The total consideration for the acquisition was approximately $559.1 million, which included $371.1 million in cash and the issuance of 3.7 million shares of common stock. This acquisition is expected to broaden Skyward's specialty insurance platform and improve its innovation and technology capabilities.
Operationally, Skyward's total assets increased to $6.5 billion as of March 31, 2026, up from $4.8 billion at the end of 2025. The company’s investment portfolio also grew significantly, with total investments reaching $2.7 billion, compared to $2.3 billion in the previous quarter. The company reported a loss and loss adjustment expense ratio of 61.1%, slightly improved from 62.4% in the prior year, indicating effective management of claims relative to earned premiums.
Skyward's customer base and engagement metrics also showed positive trends, with gross written premiums increasing to $667.7 million, a 24.7% rise from $535.3 million in the first quarter of 2025. The company’s underwriting income improved to $51.6 million, compared to $28.5 million in the same quarter last year. The Apollo segment contributed $70.1 million in net earned premiums, marking a strong entry into the Lloyd’s of London market.
Looking ahead, Skyward Specialty Insurance Group remains optimistic about its growth trajectory, bolstered by the Apollo acquisition and its strategic focus on niche markets. The company anticipates continued revenue growth and improved profitability as it integrates Apollo's operations and leverages its expanded capabilities in specialty insurance.
About Skyward Specialty Insurance Group, Inc.
Skyward Specialty Insurance Group, Inc. is a specialty insurer providing tailored property and casualty solutions across diverse niche markets in the U.S. It offers multiple lines, including general liability, professional liability, property, and surety, through admitted and non-admitted channels. Focused on underserved markets, it leverages experienced underwriters, advanced analytics, and technology to deliver differentiated, profitable insurance products and strong risk-adjusted returns.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.