Skyward Specialty Insurance
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Skyward’s loss ratio declined 5.6 points to 63.5%, outweighing higher expenses in the quarter. -
Inside P&C’s news team runs you through the key developments from the week.
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The specialty insurer is trying to catch the end of favorable sector conditions, and macro conditions that could still support a listing if they stabilize.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Sources said that the company is not using the listing to flush out potential trade or PE bidders.
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The company disclosed its IPO intentions early Tuesday saying the number of shares to be offered and the price range for the proposed offering have not yet been determined.
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The new offerings target non-standard non-profit condominium and homeowner associations.
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Brewer will serve as commercial surety VP, while Kearney will oversee Skyward’s E&S general liability team.
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The carrier’s underlying loss ratio, excluding the effects of catastrophes and prior-year developments, improved to 63% in Q3 from 68.8% the previous year.
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Houston-based Skyward Specialty now offers D&O and E&O coverage for cannabis companies in a move to tap the growing market.
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The hires mark Skyward’s latest expansion in the line, after the carrier acquired the $30mn-premium Aegis Surety business from MGA-consolidator K2 Insurance Services in January.
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Speakers and panelists pondered the future – specifically InsurTechs, social inflation and low investment yields.
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