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Skyward Specialty Insurance Group, Inc.
NASDAQ: SKWD Financials Insurance 🔎 Screen
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$2.3B
Market Cap
12.6
P/E
0.82
PEG
18.3%
ROCE
18.9%
ROE
0.12
D/E
16.8%
OPM
-13.5%
% from 52W High
73
α RS
🔍 SKWD is showing a high-conviction setup because it matches 16 of 39 tracked screener presets, RS Rating is 73, and an ECS of 70.7 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RS Rating ECS
Sources
Conviction 16/39 · RS Rating 73 · ECS 70.7
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🌏 Global Investor Returns
Currency-adjusted total returns for SKWD including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

Skyward Specialty Insurance Group, Inc., an insurance holding company, provides commercial property and casualty insurance coverages in the United States. It offers general liability, excess liability, and professional liability, as well as cyber and media liability insurance; commercial auto, group accident and health, property, agriculture, credit, and surety and workers’ compensation; and property, agriculture, and credit specialty reinsurance. The company was formerly known as Houston International Insurance Group, Ltd. and changed its name to Skyward Specialty Insurance Group, Inc. in November 2020. Skyward Specialty Insurance Group, Inc. was incorporated in 2006 and is based in Houston, Texas.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 286.9K $12.5M 0.02% Mar 2026
Jim Simons Renaissance Technologies LLC 69.3K $3.0M 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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📊 MIXED Skyward Group Q1 2026: 20% ROE, 10% GWP growth, Apollo integration strong
Revenue & Profitability
Net income was $50 million, operating income $57 million, and diluted operating EPS of $1.25 (up 39% YoY). Underwriting income totaled $52 million with a combined ratio of 89.5 (87.7 ex-cat). Annualized operating ROE was 20.3%, and book value per share reached $27.50 (up 10% quarter-over-quarter, 31% year-over-year).
Outlook
Management sees challenging conditions in the broader P&C market, especially property and casualty, but their niche focus and cycle-resistant mix position them well. They expect double-digit earnings growth and maintained 2026 guidance. Rate environment is uneven; they are disciplined in defending margins while leaning into growth areas.
Growth Drivers
Key growth segments include Accident & Health (group captive solutions), Surety (new talent and market disruption), Credit, Agriculture, and the Apollo fee business (up 49% in managed premiums). Syndicate 1971 (autonomous vehicles) and partner syndicate services add new revenue streams. Global Property is being pulled back due to soft market.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
Combined ratio was 89.5 (87.7 ex-cat). Skyward Specialty expense ratio improved to 26.2; Apollo's expense ratio was 32.5. Management targets a sub-30% expense ratio for the group. Fee-based income is scalable with modest incremental expense. Loss ratio is expected to remain stable with no prior-year development.
Key Risks
Management flagged risks from softening property market (rate declines, competitor aggression), loss inflation in casualty lines, catastrophe losses (1.8 points in Q1), and Middle East exposure (limited and carefully underwritten). AI investments require growth to avoid expense ratio pressure.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Operating EPS rose 46% to $1.30, with strong premium growth and a 19% ROE. Expense ratios improved due to technology and AI, while capital allocation included $10M in share buybacks and a $50M debt repayment. Growth remains robust in A&H, Global Ag, and fee-based Apollo income.
Q1 2026 Q1 2026 2026-05-07
First quarter 2026 delivered strong earnings growth, with operating EPS up 39% and ROE at 20%. Over half of the portfolio is cycle-resistant, and fee-based income is a growing driver. Guidance remains unchanged, with disciplined underwriting and innovation supporting future growth.
Q4 2025 Q4 2025 2026-02-24
Fourth quarter and full-year results set new records for adjusted operating and underwriting income, with strong premium growth and improved combined ratio. The Apollo acquisition expands specialty offerings and positions the company as a leader in AV insurance, while guidance for 2026 remains unchanged.
Q3 2025 Q3 2025 2025-10-30
Record Q3 with 52% premium growth, 89.2% combined ratio, and 19.7% ROE, led by agriculture and strong A&H, Surety, and Specialty Programs. Apollo acquisition remains on track for early 2026, with continued disciplined underwriting amid rising P&C competition.
Q2 2025 Q2 2025 2025-07-31
Second quarter results set new records for underwriting income and combined ratio, with 18% premium growth and strong performance in Agriculture, Credit, A&H, and Captives. Conservative reserving, disciplined cycle management, and technology investments underpin continued outperformance.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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No Investment Recommendation:
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Information Sources:
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