Skyward Specialty Insurance Group, a property and casualty (P&C) specialty insurance company, reported first-quarter 2026 net income of $49.7 million, an 18.2% increase from $42.1 million in the same period a year earlier.
In the first quarter of ’26, operating income reached US$56.8 million, an increase of 51.2% from US$37.6 million in the first quarter of ’25.
Total premiums were US$667.7 million, an increase of 9.9% from US$607.7 million.
Net written premiums increased 26.1% to $432.9 million from $343.3 million, while net premiums earned increased 44.5% to $434 million from $300.4 million.
Total revenue for the quarter was US$475.9 million, an increase of 44.8% from US$328.5 million.
Underwriting revenue increased 81.2% from $28.5 million to $51.6 million.
Skyward Group’s combined ratio improved to 89.5% from 90.5% as the loss ratio fell to 61.1% from 62.4%, while the expense ratio increased slightly to 28.4% from 28.1%.
Net investment income totaled $27.1 million, an increase of 39.3% from $19.4 million, due to the addition of Apollo’s portfolio, higher yields and a larger asset base.
Andrew Robinson, chairman and chief executive officer of Skyward Group, said: “We got the year off to a strong start when we reported first quarter combined results for Skyward Specialty and Apollo under the Skyward Group brand. Diluted operating earnings per share were $1.25, up 39% year over year, driven by strong underlying earnings growth and the accretive integration of Apollo. Our 20% Our annualized operating return on equity reflects the strength and quality of our performance, and we achieved an outstanding combined ratio of 89.5%, including 1.8. catastrophe losses of 10%, with gross premiums under management growing 20%, with gross premiums generated from fees up 49%, an encouraging early indicator of our expected fee-based earnings growth, particularly as our portfolio continues to be diversified with lower risk in the property and casualty underwriting cycle, positioning us to deliver strong top and bottom line performance over the coming period. A disciplined approach consistent with our commitment to deliver top-quarter performance throughout the market cycle.”
