Skyward Specialty Insurance

Skyward’s loss ratio declined 5.6 points to 63.5%, outweighing higher expenses in the quarter.

Inside P&C’s news team runs you through the key developments from the week.

The specialty insurer is trying to catch the end of favorable sector conditions, and macro conditions that could still support a listing if they stabilize.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Sources said that the company is not using the listing to flush out potential trade or PE bidders.

The company disclosed its IPO intentions early Tuesday saying the number of shares to be offered and the price range for the proposed offering have not yet been determined.

The new offerings target non-standard non-profit condominium and homeowner associations.

Brewer will serve as commercial surety VP, while Kearney will oversee Skyward’s E&S general liability team.

The carrier’s underlying loss ratio, excluding the effects of catastrophes and prior-year developments, improved to 63% in Q3 from 68.8% the previous year.

Houston-based Skyward Specialty now offers D&O and E&O coverage for cannabis companies in a move to tap the growing market.

The hires mark Skyward’s latest expansion in the line, after the carrier acquired the $30mn-premium Aegis Surety business from MGA-consolidator K2 Insurance Services in January.

Speakers and panelists pondered the future – specifically InsurTechs, social inflation and low investment yields.