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SKWD — Skyward Specialty Insurance News Story

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Skyward Specialty Q2 operating EPS rises on premium growth

Skyward Specialty Q2 operating EPS rises on premium growth


Overview

  • US specialty insurer's Q2 gross written premiums rose 13% yr/yr

  • Diluted operating EPS for Q2 increased 46% yr/yr

  • Company expanded share repurchase authorization to $100 mln and repurchased $9.7 mln in Q2


Outlook

  • Company did not provide specific guidance for the current qtr or full yr


Result Drivers

  • PREMIUM GROWTH MIX - Premium growth driven by accident & health, global agriculture, and specialty programs, offset by declines in energy solutions and captives

  • LOSS RATIO SHIFT - Higher loss ratio attributed to business mix shift from growth in accident & health and global agriculture divisions

  • EXPENSE RATIO IMPROVEMENT - Expense ratio improved due to business mix shift, operating efficiencies, and scale benefits as net earned premiums outpaced expense growth


Company press release: ID:nGNX8JW5Sk


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Gross written premiums

$740.55 mln

Q2 Combined Ratio

89.50%


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the property & casualty insurance peer group is "hold."

  • Wall Street's median 12-month price target for Skyward Specialty Insurance Group Inc is $67.00, about 10.1% above its August 3 closing price of $60.87

  • The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago


Reuters Recommended Reads

  • Aug 3 - American Family to buy remaining stake in specialty insurer Bowhead in $1.2 billion deal

  • Aug 3 - United Fire Group Q2 net income rises 45%, premiums up

  • Aug 3 - EverQuote Q2 revenue beats estimates on auto, home insurance demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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