Skyward Specialty Insurance Group, Inc., a property and casualty (P&C) specialist insurance company, has reported net income of $49.8 million for the third quarter of 2026, up approximately 8.5% from $45.9 million in the same period a year earlier.
During the quarter, gross written premiums amounted to $803.5 million, a 9% increase from $737.3 million.
Net written premiums grew 14% to $501.8 million from $441.2 million.
Managed premiums increased 12.5% to $1.32 billion from $1.17 billion a year earlier.
Total revenues stood at $421 million, up 19% from $353.7 million.
Underwriting income increased 25% to $47.9 million from $38.2 million.
The Q3’26 combined ratio was 89.9%, up slightly from 89.2% in Q3’25. This comprised a higher loss ratio of 61.7%, compared with 60.8%, and a lower expense ratio of 28.2%, versus 28.4%.
Net investment income grew 54% to $33.9 million from $22 million, driven by the addition of the Apollo portfolio, higher yields and a larger asset base.
Skyward Specialty completed its acquisition of Lloyd’s specialist Apollo Group Holdings Limited in January 2026.
Andrew Robinson, Skyward Group Chairman and CEO, commented, “The outstanding quarter and year to date performance reflects the strength of the Skyward Group Rule Our NicheTM strategy and the benefits of the diversified portfolio we have built. Through the first nine months of the year, we have delivered an annualized operating ROE of over 20% while growing managed premiums by 16%. In the quarter, gross written premiums grew 9.0%, while fee-generating gross written premiums increased 18%. The diversity of our portfolio and the complementary strength of our capital-light, fee-based platform continue to be meaningful differentiators, providing multiple avenues for profitable growth and enabling us to remain disciplined in deploying capital toward the most compelling opportunities as market conditions evolve. Across Skyward Group, we continue to execute at a high level, and we remain well positioned to continue to deliver top-quartile financial returns for our shareholders.”
