Skyward Specialty Insurance (US:SKWD) GlobeNewswire·2025-09-02 21:00Core Viewpoint - Skyward Specialty Insurance Group, Inc. has announced a definitive agreement to acquire Apollo Group Holdings Limited for a total consideration of $555 million, which includes $184 million in stock and $371 million in cash, expected to enhance its position in the U.S. specialty insurance market and deliver double-digit adjusted operating EPS accretion in the first full year post-closing [1][4]. Company Overview - Skyward Specialty is a rapidly growing specialty insurance company that provides commercial property and casualty products through nine underwriting divisions [8]. - Apollo is a leading U.S. centric specialty underwriting platform operating at Lloyd's of London, known for its low volatility and high growth, with a compound annual growth rate of approximately 20% since its formation in 2010 [2][10]. Acquisition Details - The acquisition will add over $1.5 billion of managed premium to Skyward Specialty's portfolio, reinforcing its leadership in specialty markets [1]. - The transaction is expected to close in the first quarter of 2026, pending regulatory approvals [4]. Strategic Alignment - The acquisition aligns well with Skyward Specialty's strategy, bringing new specialty niches and advanced technology capabilities, enhancing innovation and market offerings [3][4]. - Apollo's Syndicate 1969 will provide access to specialty classes such as Political Violence and Product Recall, while Syndicate 1971 will enhance the portfolio with innovative solutions for new economy industries [4]. Leadership and Management - Apollo's CEO David Ibeson and his management team will join Skyward Specialty and continue to lead the Apollo business, indicating a strong cultural and strategic alignment between the two organizations [3][4]. Financial Advisory - Barclays acted as financial advisor to Skyward Specialty, providing committed financing for the transaction, while Evercore served as lead financial advisor to Apollo [5].