Underwriting income nearly doubled to $54.8M and the combined ratio improved 10.7 points to 86.9%. CEO Andrew Robinson pointed to the company's niche strategy and disciplined risk management for the gains.
Alpha Score of 40 reflects weak overall profile with moderate momentum, poor value, moderate quality, moderate sentiment.
Skyward Specialty Insurance Group posted a 26% jump in second-quarter net income, driven by stronger underwriting and a sharp improvement in its combined ratio.
The Houston-based property and casualty insurer reported net income of $49 million for the three months ended June 30, up from $38.8 million a year earlier. Net operating income hit $59.2 million, compared with $37.5 million in the same period of 2025.
The combined ratio – a measure of underwriting profitability where lower numbers are better – improved to 86.9% from 97.6% in Q2 2025. Excluding catastrophe losses, the ratio stood at 87.6%. Underwriting income rose to $54.8 million from $31.2 million.
Total gross written premiums climbed 13% to $740.5 million. Fee-generating premiums grew 29% to $318 million. Net written premiums increased to $485.6 million from $339.2 million.
Chairman and CEO Andrew Robinson credited the company's "Rule Our Niche" strategy and diversified portfolio. "Our combined ratio of 89.5%, inclusive of 1.9 points of catastrophe losses, again demonstrates the quality of our underwriting," he said in a statement. Diluted operating earnings per share rose 46% to $1.30. Annualized operating return on equity for the first half of 2026 was 20.4%.
For the first six months of the year, net income reached $98.7 million, up from $80.8 million in H1 2025. The half-year combined ratio improved to 87.0% from 88.2%.
Book value per share ended the quarter at $28.55, up from $25.68 a year ago.
Skyward focuses on niche property and casualty lines including professional liability, surety, and specialty programs. The company has grown book value per share at an average annual rate of roughly 16% since its 2023 IPO.
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