Skyward Specialty Q4 net income jumps

Overview

• U.S. specialty insurer's Q4 net income rose significantly yr/yr

• Adjusted operating income for Q4 increased yr/yr

• Gross written premiums in Q4 grew 13.2% yr/yr

Outlook

• Company aims to generate top quartile returns and sustainable shareholder value

• Skyward Specialty focuses on diversified portfolio amid evolving market conditions

Result Drivers

• PREMIUM GROWTH - Growth in accident & health, specialty programs, and surety divisions drove a 13.2% increase in gross written premiums

• COMBINED RATIO IMPROVEMENT - Favorable prior accident year development and reduced catastrophe losses improved the combined ratio

• INVESTMENT INCOME - Increased income from fixed income portfolio due to higher yield and larger asset base

Company press release: ID:nGNX79CsPt

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the property & casualty insurance peer group is "buy"

• Wall Street's median 12-month price target for Skyward Specialty Insurance Group Inc is $64.00, about 36.5% above its February 20 closing price of $46.88

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

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