Skyward Specialty Insurance Group, Inc. (SKWD) Form 10-Q — Nov 6, 2026
Skyward Specialty reported Q3 2026 net income of $49.8 million ($1.12 basic EPS), up from $45.9 million a year earlier, on total revenues of $455.3 million. Gross written premiums rose 32.5% to $803.5 million, while the combined ratio was 89.9% versus 89.2%, reflecting modestly higher cat losses and business mix shift. The quarter is the first with Apollo included for the full period following the January 1, 2026 acquisition, which cost $559.1 million in cash and stock. Apollo contributed $87.9 million of revenue, $13.9 million of net income, and a 90.5% combined ratio in the quarter, plus $33.7 million of underwriting fee income and $1.14 billion of managed premiums for the nine months.
Key figures
- Eps
- 1.12
- Revenue
- 455341000
- Net Income
- 49796000
- Total Assets
- 7146446000
- Cash Position
- 187615000
- Shares Outstanding
- 44413449
- Q3 diluted eps
- 1.09
- Apollo goodwill
- 125408000
- Q3 annualized roe
- 15.7%
- Q3 combined ratio
- 89.9%
- Q3 2025 net income
- 45901000
- Q3 operating income
- 58486000
- Apollo purchase price
- $559.1 million
- Nine month net income
- 148565000
- Nine month diluted eps
- 3.26
- Q3 net earned premiums
- 406864000
- Shares repurchased ytd
- 222,635 shares for ~$9.7 million
- Underwriting income q3
- 47869000
- Net investment income q3
- 33879000
- Q3 gross written premiums
- 803485000
- Buyback authorization total
- 100000000
AI analysis
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