Skyward Specialty Insurance Group Inc
skywardinsurance.comWhat Do They Do?
Sells specialized commercial insurance to businesses and specialty reinsurance to insurers, managing general agents and other risk originators.
10-K for FY2025, filed Mar 2, 2026
How Do They Make Money?
Insureds owe premiums under policy payment terms, including installments; property, casualty and surety premiums are spread over policy terms, while accident and health premiums are billed based on census data. SUA also earns commissions and fees by placing policies with third-party insurers or reinsurers.
10-K for FY2025, filed Mar 2, 2026The Company earns and recognizes property and casualty and surety premiums on a pro-rata basis over the terms of the policies. The Company…View ↗
Premiums receivable are carried net of an allowance for credit losses. The allowance for credit losses represents the current estimate of…View ↗
Skyward Underwriters Agency, Inc. (“SUA”), a subsidiary of the Company, is a managing general insurance agent and reinsurance broker for…View ↗
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10-K for FY2025, filed Mar 2, 2026
FY2025 revenue by product or service (Total commission and fee revenue) ↗
$1.4B
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10-K for FY2025, filed Mar 2, 2026
$1.4B ↗
| Segment | Share | Revenue |
|---|---|---|
|
SUA commission revenue
|
67%
FY2022: 62%
|
SUA commission revenue, FY2025
$8.3M Sources
|
|
SUA fee revenue
|
19%
FY2022: 31%
|
SUA fee revenue, FY2025
$2.3M Sources
|
|
Other commission and fee revenue (loss)
|
14%
FY2022: 7.3%
|
Other commission and fee revenue (loss), FY2025
$1.7M Sources
|
Who Are Their Customers?
Commercial customers obtain policies through retail agents, wholesale brokers, program administrators and captive managers. Employers seeking to self-insure some health benefits are served primarily through retail brokers and wholesale broker partners.
10-K for FY2025, filed Mar 2, 2026
Do Revenues Turn Into Profits?
Yes. It kept 12 cents of every revenue dollar as net income in FY2025 and turned 28 cents into free cash flow.
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
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Aug 20, 2026
CFO Mark Haushill plans to retire; Taryn McHarg will succeed him
Haushill will serve as senior advisor after retiring; McHarg's appointment takes effect upon his retirement.
Sources
8-K, filed Aug 20, 2026
On August 17, 2026, Mark Haushill, Chief Financial Officer of Skyward Specialty Insurance Group, Inc. (the "Company"), notified the Company…View ↗
Growing. Revenue grew 2.6x in 4 years, from $550.2M in FY2021 to $1.4B in FY2025, about 27% a year.
Apollo's Lloyd's platform
Apollo brings a Lloyd’s underwriting and managing-agency business alongside Skyward’s specialty insurance divisions; it underwrites risks through syndicates and earns underwriting income, managing-agency fees and profit commissions.
10-K for FY2022, filed Mar 28, 2023 10-K for FY2025, filed Mar 2, 2026We have one reportable segment through which we offer a broad array of insurance coverages to a number of market niches. Each of our eight…View ↗
Agriculture and credit reinsurance
The latest report adds an Agriculture and Credit (Re)insurance division serving insurers, managing general agents and other risk originators with specialty risk-transfer solutions.
10-K for FY2022, filed Mar 28, 2023 10-K for FY2025, filed Mar 2, 2026We have one reportable segment through which we offer a broad array of insurance coverages to a number of market niches. Each of our eight…View ↗
Expanded surety products
The latest report adds transactional surety solutions to the contract and commercial surety offerings described in the older report.
10-K for FY2022, filed Mar 28, 2023 10-K for FY2025, filed Mar 2, 2026Surety: Our Surety underwriting division provides contract and commercial surety solutions to a range of trade and services organizations…View ↗
Surety: Our Surety underwriting division provides contract, commercial and transactional surety solutions to a range of trade and services…View ↗
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