Regulatory Authorities and Minority Shareholders Approved Skyward Specialty Acquisition of Apollo Group; Skyward Specialty Provides Guidance for 2026

About this update from Skyward Specialty Insurance Group, Inc.

[{"type":"text","content":"HOUSTON, Dec. 03, 2025 (GLOBE NEWSWIRE) -- Skyward Specialty Insurance Group, Inc. (Nasdaq: SKWD) (“Skyward Specialty” or the “Company”) today announced that it has secured the required regulatory approvals and approvals of the minority shareholders of its acquisition of Apollo Group Holdings Limited (“Apollo”). The transaction is expected to close early in the first quarter of 2026, subject to final closing conditions. Skyward Specialty also announced its financial guidance, inclusive of Apollo, for the 2026 fiscal year. This outlook reflects the Company’s commitment to delivering top quartile underwriting and sustainable earnings and shareholder growth. Skyward is providing 2026 financial guidance as a result of, and assuming the closing of, the Apollo acquisition and the anticipated impact on the Company's future results. Going forward, the Company intends to provide fiscal year guidance for future fiscal years in the first quarter of such year, consistent with its historical practice. Pro forma guidance for the year ending December 31, 2026, subject to closing: Gross written premiums between $2.65 billion and $2.8 billion and net retention of approximately 65%;Combined ratio between 90.5% and 91.5%, inclusive of 2.0 to 2.5 points of catastrophe losses;Net investment income between $115 million and $120 million;Syndicate management service fee income between $30 million and $35 million(1)Commission and fee income between $5 million and $8 million;Net income between $207 million and $216 million, or $4.50(2) and 4.70(2), respectively, per diluted share; and,Adjusted operating income(3) between $221 million and $230 million, or $4.80(2) and $5.00(2), respectively, per diluted share. (1) Syndicate management service fee income is excluded from the combined ratio. (2) Estimated weighted average diluted shares of 46,000,000 (3) See “Reconciliation of Non-GAAP Financial Measures” Skyward Specialty Chairman and CEO Andrew Robinson commented, \"We are pleased to announce that all required regulators, including the Prudential Regulatory Authority and Lloyd's of London, as well as all Apollo minority shareholders, have approved our acquisition of Apollo, key milestones in the closing process. As we move toward closing our transaction with Apollo, Skyward is operating from a position of exceptional strength and executing at a high level...

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