Skyward Specialty Insurance Group, Inc.
PE-OWNED
Acquired by Apollo Global
What PE Will Likely Do
Skyward Specialty Insurance's insurance products will likely become less comprehensive, with higher deductibles, lower coverage limits, and more exclusions
The customer service experience will likely decline, with longer wait times, less attentive agents, and slower claims processing
Skyward Specialty Insurance may begin to offer fewer specialized or tailored insurance products, focusing instead on more generic, standardized offerings
Expected Timeline
“0 to 6 months months”
Announcements about 'streamlining' and 'enhancing efficiency'
“6 to 12 months months”
First round of staff reductions and consolidation of underwriting and claims processing
“12 to 24 months months”
Noticeable changes to insurance product offerings, including reduced coverage and higher deductibles
“24 to 48 months months”
Increased customer complaints about poor service and claims issues, potential regulatory scrutiny
“48 to 60 months months”
Potential sale, restructuring, or bankruptcy if cost-cutting measures fail to improve profitability
What You Can Do
Actions
Carefully review any changes to your Skyward Specialty Insurance policies, including coverage limits, deductibles, and exclusions
Monitor customer service levels and claims processing times, and be prepared to switch insurers if service declines significantly
Stay informed about any regulatory actions or media reports regarding Skyward Specialty Insurance's financial health and operations
Alternatives
Look for family-owned or employee-owned businesses