Loading...
•
Dec 31, 2022
Skyward Specialty Q4 2022 Earnings Report
Reported a strong finish to 2022 with double-digit premium growth and a low 90's combined ratio.
Key Takeaways
Skyward Specialty reported a strong fourth quarter with double-digit premium growth and a combined ratio in the low 90s. The company's disciplined underwriting and diversified business portfolio enabled consistent results despite market volatility. Skyward is well-positioned for continued growth and margin expansion in 2023.
Gross written premiums increased 18.1%, with continuing business growing 21.4% compared to Q4 2021.
The combined ratio was 92.4% compared to 106.8% for Q4 2021.
Adjusted combined ratio was 92.8% compared to 94.8% for Q4 2021.
Net investment income increased 30.6% to $5.3 million compared to Q4 2021.
Forward Guidance
Skyward Specialty is positioned for continued growth and margin expansion in 2023, building on the momentum from 2022.
Positive Outlook
- Strong pure rate in excess of expected loss cost trends.
- Double-digit growth in each of the eight underwriting divisions during 2022.
- Successful completion of the IPO on the Nasdaq stock exchange.
- Disciplined underwriting and the diversity and strength of the business portfolio.
- Continued investment in new underwriters and underwriting teams.
Challenges Ahead
- Potential legislative changes at both the state and federal level.
- State and federal regulatory rule making promulgations and adjudications.
- Class action litigation involving the insurance industry and judicial decisions affecting claims, policy coverages and the general costs of doing business.
- The potential loss of key members of management team or key employees and our ability to attract and retain personnel.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...