Skyward Specialty Insurance Group, Inc., a property and casualty (P&C) specialty insurance company, has completed its acquisition of Apollo Group Holdings Limited, a Lloyd’s specialty insurance company, on previously agreed terms.
Launched in 2009, Apollo is a US-focused specialty underwriting platform operating out of Lloyd’s of London. Its product offerings span property, casualty, marine, energy and transportation, specialty, reinsurance, as well as smart tracking and digital and embedded risk programs.
On September 3, 2025, Skyward Specialty entered into a definitive agreement with Alchemy, management, employees and other strategic investors to acquire 100% of Apollo for a total consideration of $555 million.
Employees and strategic investors will receive $184 million in stock consideration, while the remaining $371 million will be paid in cash with committed debt financing in place.
In December 2025, Skyward Specialty received the required regulatory and minority shareholder approvals for the acquisition.
