Skyward Specialty Insurance Group plans to go public, the Houston-based insurer said Tuesday.
Skyward said it has filed a draft registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common stock.
The number of shares to be offered and the proposed offering’s price range have not yet been determined, the insurer said in a statement. It said the registration statement is expected to become effective after the SEC completes its review process, subject to market and other conditions.
The company had nearly $1 billion in gross written premiums for its most recent fiscal year. It has eight underwriting divisions: accident and health; captives; global property; industry solutions; professional lines; programs; surety; and transactional excess and surplus.
Skyward’s subsidiaries are Houston Specialty Insurance Co., Imperium Insurance Co., Great Midwest Insurance Co. and Oklahoma Specialty Insurance Co.
A Skyward spokeswoman said in an email the insurer’s largest shareholder is Calgary, Alberta-based investment holding company Westaim Corp. but that it does not provide further information on its ownership.
Skyward changed its name from Houston International Insurance Group in November 2020, after raising $100 million in new capital earlier that year.
The holding company of American International Group Inc.’s life and retirement business, SAFG Retirement Services Inc., filed for an IPO last month.