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Mar 31, 2025
Skyward Specialty Q1 2025 Earnings Report
Reported First Quarter 2025 Results
Key Takeaways
Skyward Specialty Insurance Group reported strong first quarter 2025 results with significant increases in net income, adjusted operating income, and gross written premiums. The company achieved its best-ever adjusted operating income and a strong annualized return on equity.
Net income for Q1 2025 was $42.1 million, an increase from $36.8 million in Q1 2024.
Adjusted operating income reached a record high of $37.3 million in Q1 2025, up from $31.0 million in the prior year period.
Gross written premiums grew by 16.7% to $535.3 million, driven by strong performance in agriculture and credit (re)insurance and accident & health divisions.
The combined ratio was 90.5%, with the ex-cat combined ratio at 88.3%.
Revenue by Segment
Forward Guidance
The company remains confident in its ability to deliver strong financial results for the remainder of the year based on its diversified business portfolio, Rule Our Niche strategy, investments in technology and talent, and track record of execution.
Positive Outlook
- Strength of the diversified business portfolio is expected to continue contributing to strong results.
- The 'Rule Our Niche' strategy is anticipated to drive future performance.
- Investments in technology and talent are expected to support continued growth.
- Track record of consistent execution provides confidence in future results.
- Global agriculture and accident & health divisions are highlighted as areas for continued growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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