Skyward Specialty Insurance Group (SKWD) TD Financial Services & Fintech Summit summary

Differentiation and market strategy

• Focuses on complex, higher-acuity market segments where specialized underwriting and risk transfer expertise create a defensible competitive moat.

• Maintains a balanced, diversified portfolio across short-tail and medium-tail liabilities, allowing flexibility to accelerate or decelerate growth in different areas.

• Prioritizes people-centric culture, attracting and retaining top underwriting talent with industry-leading low voluntary attrition.

• Strategic hiring targets known, proven teams, often leveraging existing relationships and a reputation for fulfilling promises and investing in new talent.

• Differentiation is driven by portfolio construction and exceptional talent, especially given the company's size.

Business mix and growth focus

• Significant growth in transactional E&S, surety, and professional underwriting divisions, with these lines now exceeding $400 million in run-rate premium.

• Exited less profitable professional lines and built strong positions in new, higher-return segments.

• Group captives in energy and construction have been a successful alternative to guaranteed cost solutions.

• Emphasizes growth in less P&C cycle-exposed areas like surety, A&H, and agribusiness, while being more cautious in casualty due to social and loss cost inflation.

• All underwriting divisions have shown consistent double-digit growth in recent quarters.

Underwriting approach and risk management

• 56% of the book is short-tail liabilities, with 26% in property, but avoids intentional catastrophe risk and focuses on technical fire perils.

• Manages aggregate exposure carefully, resulting in consistently strong catastrophe results compared to peers.

• Policy limits are generally short, with $5 million limits typical, and large limits in global property supported by quota share partners.

• Global property business targets large multinational accounts, providing primary layers with significant capacity and stable, long-term relationships.

• Avoids the small business market, focusing on mid to large accounts where specialized expertise offers a competitive edge.