Skyward Specialty Insurance Group recently released its 10-Q report. Skyward Specialty Insurance Group, Inc. is an insurance holding company that writes commercial property and casualty coverage in the United States, including general liability, excess liability, professional liability, cyber and media liability, commercial auto, group accident and health, property, agriculture, credit, surety and workers’ compensation, plus specialty reinsurance in property, agriculture and credit. The company was incorporated in 2006, is based in Houston, and changed its name from Houston International Insurance Group, Ltd. in November 2020.
In Item 2, management said the company now reports under the Skyward Group brand, which combines Skyward Specialty and Apollo after Apollo’s acquisition closed on Jan. 1, 2026. The deal cost $559.1 million, consisting of $371.1 million in cash and 3,679,332 shares of common stock. Skyward said Apollo is a Lloyd’s of London specialty insurance and reinsurance business, and that the two brands continue to operate separately while being managed under one holding company structure.
The quarter showed higher premium volume and stronger operating earnings. Gross written premiums rose to $740.6 million from $584.9 million a year earlier, while net written premiums increased to $485.6 million from $339.2 million. Net earned premiums were $444.5 million, up from $295.5 million.
Underwriting income was $54.8 million, compared with $31.2 million in the prior-year quarter. Net income was $49.0 million, up from $38.8 million, and operating income was $59.2 million versus $37.5 million. For the first six months, underwriting income reached $106.4 million, net income was $98.8 million, and operating income was $116.1 million.
Loss ratios moved modestly higher. The combined ratio was 89.5% for both the quarter and the first half, compared with 89.4% in the second quarter of 2025 and 90.0% for the first half of 2025. The net loss and LAE ratio was 62.3% in the quarter, up from 61.3%, and 61.7% year to date, versus 61.9% a year earlier.
Investment income also increased. Net investment income was $30.7 million in the quarter, compared with $18.7 million a year earlier, and $57.8 million for the first half, up from $38.1 million. Interest expense jumped to $8.8 million from $1.9 million in the quarter, and amortization expense rose to $8.8 million from $0.4 million.
Capital and equity also expanded. Stockholders’ equity was $1.27 billion at June 30, 2026, up from $899.9 million a year earlier and $1.01 billion at Dec. 31, 2025. Tangible stockholders’ equity was $861.9 million, compared with $811.1 million a year earlier and $921.5 million at year-end 2025. Following these announcements, the company's shares moved -2.99%, and are now trading at a price of $63.67. If you want to know more, read the company's complete 10-Q report here.
