Dan's questions to Skyward Specialty Insurance Group Inc (SKWD) leadership • Q4 2024
Question
Dan, on behalf of Michael Zaremski at BMO, asked for an explanation of the reserve accounting change from policy year to accident year and for details on the annual ground-up reserve review.
Answer
CEO Andrew Robinson and CFO Mark Haushill clarified the change to accident year reserving was a planned project to improve data fidelity and align with U.S. industry norms. Regarding the annual review, Robinson stated that reserves are in their 'best position they've ever been in,' highlighted by IBNR increasing to 69% of total reserves.