Skyward Specialty Insurance reports Q1 adjusted EPS 90c, consensus 77c

Reports Q1 revenue $328.53M, consensus $310.94M. Reports Q1 book value per share of $21.06. Skyward Specialty chairman and CEO Andrew Robinson commented, “We delivered outstanding first quarter results, including adjusted operating income which increased over 20% to $37.3 million, which is the best in Company history, and we achieved annualized return on equity of 20.5%. We continued our consistent and strong record of growth in underwriting performance as gross written premiums increased by approximately 17%, and we delivered a 90.5% combined ratio inclusive of 2.2 points of catastrophe losses. Our strong growth this quarter highlights the strength of our diversified business portfolio, with our global agriculture unit and our accident & health division each having a breakout quarter; we have highlighted these two areas as part of our intentional strategy to grow in areas less exposed to the P&C market.”