Skyward Specialty Insurance Group, a specialty property & casualty insurer focused on underserved markets, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Skyward Specialty offers commercial property and casualty products and solutions on a non-admitted (or excess and surplus) and admitted basis, predominantly in the US. In the first nine months of 2022, the company wrote $879 million in gross written premiums, and its largest underwriting divisions were industry solutions (multi-line coverage for the construction, energy, and specialized trucking industries), global property (E&S property-only solutions), and programs (program administrators writing multi-line coverage).
The Houston, TX-based company was founded in 2006 and booked $602 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol SKWD. Skyward Specialty Insurance Group filed confidentially on April 22, 2022. Barclays, Keefe Bruyette Woods, Piper Sandler, JMP Securities, Truist Securities, and Raymond James are the joint bookrunners on the deal. No pricing terms were disclosed.
