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Dec 31, 2024
Skyward Specialty Q4 2024 Earnings Report
Skyward Specialty reported its fourth quarter and full-year 2024 financial results, showing increased net income and gross written premiums.
Key Takeaways
Skyward Specialty reported a net income of $14.4 million for Q4 2024, with gross written premiums increasing by 20.8% to $388.4 million. The company achieved an adjusted combined ratio of 91.6% and a book value per share of $19.79, up 18% from the previous year.
Gross written premiums increased by 20.8% to $388.4 million in Q4 2024 compared to Q4 2023.
Net income for Q4 2024 was $14.4 million, or $0.35 per diluted share.
Adjusted operating income for Q4 2024 was $33.2 million, or $0.80 per diluted share.
The adjusted combined ratio for Q4 2024 was 91.6%, including catastrophe losses of 2.2 points.
Revenue by Segment
Forward Guidance
The company did not provide specific forward-looking guidance in this release, but expressed confidence in its foundation for 2025 and beyond.
Positive Outlook
- Continued thoughtful diversification of product portfolio.
- Strategic launch of new units including Media Liability, Life Sciences, Mortgage and Credit, and Renewable Energy.
- Focus on disciplined execution of the 'Rule Our Niche' strategy.
- Confidence in the foundation built to propel growth in 2025 and beyond.
- Strong underwriting results and premium growth expected to continue.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- Potential impact of legislative changes at state and federal levels.
- Regulatory rule making promulgations and adjudications could affect operations.
- Class action litigation involving the insurance industry and judicial decisions affecting claims.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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