Skyward Specialty Insurance Group, Inc. (SKWD) FY2025 10-K Annual Report
Skyward Specialty Insurance Group, Inc. (SKWD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Mar 2, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Skyward Specialty Insurance Group, Inc. FY2025 10-K Analysis
Business Overview
- • Core insurance business focused on specialty lines with a multi-line solutions approach
- • Significant sale of almost entire equities portfolio in Q3 2025, retaining only preferred stocks
Management Discussion & Analysis
- • Revenue gross written premiums $2,166.3M, up 24.3% YoY (+$423.1M); net earned premiums $1,304.5M, up 23.4% YoY (+$247.8M)
- • Adjusted operating income $167.4M vs $126.6M; adjusted return on equity 18.6% vs 17.4%; adjusted combined ratio 91.2% in 2024 (2025 data not shown)
Risk Factors
- • Regulatory risk: potential adverse impact from enforcement of Montrose (1995) decision narrowing policy exclusions, expanding coverage and increasing insurer liabilities
- • Macroeconomic threat: inflation and recession risks could increase claims frequency, premium defaults, and reduce policy sales, hurting growth and profitability
Skyward Specialty Insurance Group, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$12M
▲ +84.7% YoY
Net Income
$170M
▲ +43.1% YoY
Net Margin
1373.3%
▼ -39946bp YoY
ROE
16.8%
▲ +188bp YoY
Total Assets
$4.8B
▲ +28.5% YoY
EPS (Diluted)
$4.07
▲ +41.8% YoY
Operating Cash Flow
$408M
▲ +33.7% YoY
Source: XBRL data from Skyward Specialty Insurance Group, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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