NASDAQ$SKWD
Skyward Specialty Insurance Group Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported a strong finish to 2022 with double-digit premium growth and a low 90's combined ratio.
Skyward Specialty reported a strong fourth quarter with double-digit premium growth and a combined ratio in the low 90s. The company's disciplined underwriting and diversified business portfolio enabled consistent results despite market volatility. Skyward is well-positioned for continued growth and margin expansion in 2023.
- Gross written premiums increased 18.1%, with continuing business growing 21.4% compared to Q4 2021.
- The combined ratio was 92.4% compared to 106.8% for Q4 2021.
- Adjusted combined ratio was 92.8% compared to 94.8% for Q4 2021.
- Net investment income increased 30.6% to $5.3 million compared to Q4 2021.
Headline financials
Revenue & EPS history
Skyward Specialty · Revenue · Quarterly
$170M
Forward guidance
Skyward Specialty is positioned for continued growth and margin expansion in 2023, building on the momentum from 2022.
Tailwinds
- Strong pure rate in excess of expected loss cost trends.
- Double-digit growth in each of the eight underwriting divisions during 2022.
- Successful completion of the IPO on the Nasdaq stock exchange.
- Disciplined underwriting and the diversity and strength of the business portfolio.
- Continued investment in new underwriters and underwriting teams.
Headwinds
- Potential legislative changes at both the state and federal level.
- State and federal regulatory rule making promulgations and adjudications.
- Class action litigation involving the insurance industry and judicial decisions affecting claims, policy coverages and the general costs of doing business.
- The potential loss of key members of management team or key employees and our ability to attract and retain personnel.
- Inflation in the costs of the products and services insurance pays for.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q4 2022
+1.8%
Avg return
Earnings day
+3.7%
Avg return
5 days after
+7.1%
Avg return
30 days after
65%
11 / 17 earnings
Positive
+9.5%
Q1 2023
Best reaction
-4.5%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.8% | -1.5% | — | |
| Q4 2025 | -4.5% | -1.5% | -8.3% | |
| Q3 2025 | +1.5% | +1.9% | +8.8% | |
| Q1 2025 | +9.2% | +9.9% | +18.3% | |
| Q4 2024 | -0.8% | +5.3% | +2.3% | |
| Q3 2024 | -3.0% | -4.7% | +17.1% | |
| Q2 2024 | -3.6% | -8.5% | +2.0% | |
| Q1 2024 | +2.4% | +7.7% | +6.9% | |
| Q4 2023 | +0.0% | +3.5% | +7.8% | |
| Q3 2022 | -1.5% | +3.8% | +6.4% | |
| Q3 2023 | +9.3% | +9.3% | +17.4% | |
| Q2 2023 | +2.1% | +3.8% | -0.9% | |
| Q1 2022 | +2.5% | +1.2% | +0.0% | |
| Q1 2023 | +9.5% | +12.2% | +10.9% | |
| Q2 2022 | +4.1% | +8.1% | +6.6% | |
| Q4 2021 | +4.1% | +8.1% | +6.6% | |
| Q4 2022 | +1.2% | +4.9% | +11.5% | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — | |
| Q4 2020 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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