Record-Breaking Growth
Skyward Specialty achieved $44 million in operating income, $38 million in underwriting income, and a combined ratio of 89.2%. Gross written premiums grew by 52%, with earnings growing over 40% and an annualized return on equity of 19.7%.
Agriculture Unit Performance
The Agriculture unit significantly contributed to growth, particularly in the U.S. dairy and livestock industry, with gross written premiums growing over 25% in 5 of 9 divisions.
Successful Financial Strategy
Skyward Specialty's financial leverage is modest, with a debt-to-capital ratio under 11%. The company completed the monetization of its equity portfolio, realized gains of $16.3 million, and redeployed proceeds into fixed income securities.
Innovation and Technology Advancement
Skyward Specialty emphasized the use of technology like SkyView to enhance underwriting capabilities and maintain a competitive edge.