Skyward Specialty Insurance Q3 loss ratio rose on growth in accident & health divisions
SKWD•Skyward Specialty Insurance’s third-quarter gross written premiums rose 9% year over year to $803.49 million, while diluted EPS was $1.09, down slightly from a year earlier. Its loss ratio rose as business shifted toward accident and health and agriculture.
1. Third-quarter results
Skyward Specialty Insurance reported third-quarter net income of $49.80 million and diluted EPS of $1.09. Gross written premiums increased 9% year over year to $803.49 million.
2. Business mix and expenses
The company attributed higher loss ratios to growth in its accident and health and global agriculture divisions. Lower expense ratios reflected business mix, operating efficiencies and scale.
3. Company outlook
The company said it remains well positioned for continued top-quartile financial returns and expects portfolio diversity and its fee-based platform to support profitable growth.
