INVESTOR PRESENTATION
MAY 2024
LEGAL DISCLAIMERS
Forward-Looking Statements
This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "may," "will," "intend," "expect," "anticipate," "estimate," "target," and similar expressions, or the negative thereof, among others, identify forward-looking statements. All forward-looking statements are based on assumptions, expectations and other information currently available to management. Although SKWD believes that the expectations reflected in forward-looking statements have a reasonable basis, it can give no assurance that these expectations will prove to be correct. Such forward-looking statements are subject to certain risks and uncertainties that could cause the Company's actual results to differ materially from those projected, anticipated or implied. The most significant of these risks and uncertainties are described in SKWD's most recently filed Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission, and include (but are not limited to) 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 our management team or key employees and our ability to attract and retain personnel, the impact of competition on products and pricing, inflation in the costs of the products and services insurance pays for, product development, geographic spread of risk, weather and weather-related events, other types of catastrophic events, our ability to obtain reinsurance coverage at prices and on terms that allow us to transfer risk and adequately protect our company against financial loss, and losses resulting from reinsurance counterparties failing to pay us on reinsurance claims. Except to the extent required by law, SWKD undertakes no obligation to update or revise any forward-looking statements.
Non-GAAP Financial Measures
In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation includes certain non-GAAP financial measures. These non-GAAP measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. These non-GAAP measures have limitations as analytical tools, and they should not be considered in isolation or as a substitute for analysis of other GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measures is included in the Appendix to this presentation. This presentation contains statistical data, estimates, and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation.
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SELECT MARKET INFORMATION
As of March 31, 2024 | |
Ticker Symbol | SKWD |
Exchange | NASDAQ Global Select Market |
Stock Price | $37.41 |
Market Capitalization | $1.4 billion |
Book Value (per share) | $17.44 |
Debt to Total Capitalization Ratio | 14.7% |
Full-time Employees | 528 |
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WE ARE A DISTINCTIVE SPECIALTY P&C INSURER
Skyward Specialty is a rapidly growing specialty insurance company, delivering commercial P&C products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions -Accident & Health, Captives, Global Property & Agriculture, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S. All of our insurance company subsidiaries are group rated and have a financial strength rating of "A-" (Excellent) with positive outlook from A.M. Best Company.
We approach insurance differently. Our specialty insurance experts dig deeper to customize solutions to help brokers and agents deliver impactful solutions to their clients. We operate at the complex end of the specialty market and leverage technology to bring unique, innovative insurance solutions to market.
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WE ARE MISSION & VALUES LED
OUR MISSON
to spark potential by smartly shifting risk to a safer place
OUR VISION
to be the specialty insurance company where great people want to work, the best partners and customers bring their business and top-tier performance ensues
OUR VALUES
Grow personally and professionally
We are committed to bettering ourselves and each other, and we have fun doing it.
Rise above the usual
We go farther to gain the insight it takes to find better answers and create the right solutions
Engage in inclusion
We avidly seek a rich diversity of thought, backgrounds and perspectives
Act in good faith
We are transparent, honest and accountable to ourselves and each other, no matter what
Transcend the self
We are high achieving individuals who are humble enough to know that teamwork takes us even higher
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HIGHLY EXPERIENCED LEADERSHIP TEAM
Andrew Robinson | Mark Haushill | |||||
Chief Executive Officer | Chief Financial Officer | |||||
Joined Skyward in 2020 | Joined Skyward in 2015 | |||||
30+ Years of Experience | 30+ Years of Experience | |||||
Sandip Kapadia | Tom Schmitt | |||||||
EVP, Chief Actuary & | Chief Administrative Officer | |||||||
Analytics Officer | & Chief People Officer | |||||||
Joined Skyward in 2020 | Joined Skyward in 2020 | |||||||
20+ Years of Experience | 30+ Years of Experience | |||||||
John Burkhart | Kirby Hill | Sean Duffy | ||
President, Specialty Lines | President, Industry Solutions, | Chief Claims Officer | ||
Programs & Captives | ||||
Joined Skyward in 2021 | Joined Skyward in 2010 | Joined Skyward in 2019 | ||
30+ Years of Experience | 30+ Years of Experience | 25+ Years of Experience | ||
Dan Bodnar | Doug Davies | Leslie Shaunty | |
Chief Information & | Senior Vice President, | General Counsel | |
Technology Officer | Global Property Division | ||
Joined Skyward in 2017 | Joined Skyward in 2013 | Joined Skyward in 2013 | |
20+ Years of Experience | 20+ Years of Experience | 25+ Years of Experience |
insureCIO
Experienced and entrepreneurial leadership with proven track record to build and lead top-tier organizations
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RULE OUR NICHE STRATEGY
Focused on creating a competitive moat, winning in chosen niches, and delivering top quartile performance
Target Business
- Underserved "Niche" Markets with Insufficient Coverage
- Complex Risks
Differentiating Factors
- Customized Products & Solutions
- Exceptional Underwriting & Claims Talent
• Advanced Technology & Analytics
- Responsiveness to Market Opportunities and Dislocation
Outcome
- Top Quartile Performance
- Strong Defensible Market Position
• Competitive Moat
- Low Underwriting Volatility
Target
Business
Differentiating
Factors
Outcome
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OUR UNDERWRITING SUCCESS
EIGHT UNDERWRITING DIVISIONS(1)
We operate through eight underwriting divisions, each of which are now producing more than $100 million. Each division is now at a scale that can sustainably contribute to the Company's earnings.
Industry Solutions
Global Property & Agriculture | 20% | ||
7% | |||
Programs | 9% | ||
Captive | |||
3/31/24 GWP: | 19% | ||
Professional Lines | 10% | $1,558M | |
Accident & Health | |||
Transactional E&S | 11% | 12% | |
Surety | 12% | ||
(1) Data for continuing business for the twelve months ended March 31, 2024.
BALANCED BUSINESS MIX(1)
Our balanced portfolio strengthens our market position and stabilizes our revenue streams, demonstrating our commitment to sustainable, long-term growth within the industry.
BY 46%
54% DURATION
SHORT-TAIL | MEDIUM-TAIL |
44% BY
MARKET 56%
NON-ADMITTED | ADMITTED | 8 |
WE ARE TECHNOLOGY POWERED
Technology and Analytics
Core Operating Platform
Flexible platform designed to accelerate speed to
market and enhance scalability in a
cost-efficient manner
Superior Business Intelligence Platform
Foundation for reporting, business intelligence,
analytics and advanced data capabilities
Predictive Analytics
Use of predictive analytics including artificial
intelligence for superior risk selection, pricing and
claims handling
SkyBI Provides Us with Real Time Intelligence
Overview | • Single, comprehensive enterprise-wide repository that provides real- |
time intelligence in an easy to consume visualized format | |
Overview | |
• | Powered by multiple data sources: production data, pricing / | |
retention metrics, claims data, actuarial and select third-party data | ||
Behind SkyBI | • | Data can be filtered by distributor, customer segment, LOB, industry, |
underwriting segmentation and specific-risk feature among others |
• Enables high level business review and in-depth analyses | ||
Impact on | • | Daily and monthly updates allow for a quicker response time |
• | Better risk selection, improved pricing and stronger claims outcomes | |
Decision Making |
Advanced technology and data analytics amplify our underwriting and claims capabilities
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INDUSTRY RECOGNITION OF OUR TALENT & TECHNOLOGY LEADERSHIP
ORBIE Awards
Houston CIO - Large Corporate
Business Insurance
Best Places to Work in Insurance 2023
Elite 50 Internships 2022 Winner
Elite 50 Internships 2023 Winner
5- Star Winner 2023 - Professional Liability Provider by Insurance Business America
Datos Insights, formerly AiteNovarica,
Impact Award winner 2023
SkyVUE Underwriting Workbench
Insurance Marketing and Communications Assoc. Showcase Winner 2023 - Silver Award
Captive Review
Professional of the Year 2022 Nominee
Professional of the Year 2023 Nominee
2021 Property Casualty 360
Insurance Innovator
SkyDrive Technology
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Disclaimer
Skyward Specialty Insurance Group Inc. published this content on 03 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 May 2024 22:26:09 UTC.