Categories Finance, IPO

Everything you need to know about Skyward Specialty Insurance’s upcoming IPO

Skyward Specialty Insurance Group intends to offer a total of 8.5 million shares at an estimated price of $14 per share to $16 per share

Last year’s lackluster IPO activity, after record-high stock exchange debuts in 2021, has made the market speculative about the stock listings trends this year. Skyward Specialty Insurance Group, Inc. is among the first few companies that launched initial public offering this year.

The company is a provider of various property and casualty insurance services in the U.S. The admitted and non-admitted business insurance solutions are offered to cover an array of risks like healthcare professional liability, specialty property & liability, and medical stop-loss.

8.5Mln Shares

In a regulatory filing, Houston-based IBM last week revealed plans to offer around 8.5 million shares, comprising 4.75 million shares of the company and about 3.75 million shares of existing stockholders. The shares are expected to fetch between $14.00 and $16.00 per share, at the mid-point of which the offering would generate about $128 million in proceeds. Pursuant to the initial public offering, the company’s shares would trade on the Nasdaq Global Select Market under the ticker symbol SKWD.

All you need to know about Vietnamese EV maker VinFast Auto’s US IPO

Most of the proceeds from the offering will be deployed for enhancing capitalization and financial flexibility, while a part of the fund will be used for making capital contributions to the company’s subsidiaries as well as for general corporate purposes. The combined lead book-running managers for the offering are Barclays Capital Inc. and Keefe, Bruyette & Woods, Inc.

ipo news

A few months ago, the company’s board ratified a 4-for-1 reverse stock split that will be effected before to the completion of the initial public offering.

The Company

Incorporated as Houston International Insurance Group, Ltd. in January 2006, the company was re-branded as Skyward Specialty Insurance Group in November 2020. It is led by Andrew Robinson who joined as the chief executive officer more than two years ago.  It operates through the eight divisions of accident & health, captives, global property, industry solutions, professional lines, programs, surety, and transactional E&S.

Nava Health to go public with a $12Mln IPO. Here’s all you need to know

The management bets on this diversified structure to beat the competition and grow in scale. In the rapidly evolving insurance space, the company looks to leverage the stable growth in the demand for specialized insurance solutions due to rising risks and their complexity. New health risks like COVID-19 have added to the importance of health insurance. The primary challenges facing the company are its heavy reliance on retail/wholesale distribution agents, stiff competition, and the cyclical nature of the insurance business.


The company wrote $879.1 million in gross written premiums in the nine months that ended September 30, 2022. The combined ratio and adjusted combined ratios were 94.7% and 92.6%, respectively, during that period. It generated a net income of $19.0 million and an adjusted operating income of $46.9 million in the first three quarters of the fiscal year, down 47% and up 65% respectively.

COVID-19 puts insurers in tricky situation; risks range from litigation to insolvency

Ravaging almost every part of the world and crippling economic activity, the coronavirus pandemic has not spared any business. When it comes to the insurance industry, the nature of impact is complex and there is no doubt the companies will struggle with their underwriting decisions once the damage is fully assessed.

Check out our analysis 

Most Popular

V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results

Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew

Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results

Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter

McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings

Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings

Add Comment
Viewing Highlight