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Skyward Specialty shifts underwriting toward agriculture and A&H
In Q2 2026, global agriculture premiums nearly doubled year over year to $111.9 million as the insurer reduced property, captives, and energy solutions lines.
Skyward Specialty Insurance Group reported a 89.5% combined ratio for the second quarter of 2026 and said diluted operating earnings per share rose 46% year over year to $1.30. The quarter marked the first full quarter of Apollo consolidated inside the group after its acquisition closed on January 1, with prior-year comparisons presented on a pro forma basis, according to Insurance Business.
The insurer said total gross written premiums rose 13.3% to $740.6 million for Q2 2026 on a pro forma basis, while net written premiums increased to $485.6 million from $339.2 million, driven largely by Apollo. For the first half, managed premiums, which include fee-generating premiums from syndicates Apollo manages for third-party capital, reached $2.03 billion, up 18.5%.
On the divisional mix, Skyward Specialty grew global agriculture gross written premiums 95.8% to $111.9 million in the quarter, while accident and health rose 57.8% to $95.5 million and specialty programs expanded 29.7% to $111.4 million. In contrast, global property fell 15.3% to $71.1 million, captives declined 16.6% to $64.3 million, and energy solutions dropped 16.2% to $62.7 million.
Management described global agriculture and accident and health as cycle-resistant lines, attributing agriculture pricing and loss experience to weather and commodity trends and A&H claims trends to medical cost inflation and demographic factors. Insurance Business also reported management attributed the captives decline to a competitor writing terms it considered unsustainable and said the pullback was deliberate, with property and energy contractions tracking broader softening in E&S property rates.