Skyward Specialty completes acquisition of Apollo for $555m

Skyward Specialty Insurance Group, Inc., a property and casualty (P&C) specialist insurer, has completed its acquisition of Lloyd’s specialist Apollo Group Holdings Limited at the previously agreed terms.

Launched in 2009, Apollo is a US-focused specialty underwriting platform operating at Lloyd’s of London. It offers products across Property, Casualty, Marine, Energy & Transportation, Specialty, Reinsurance, as well as Smart Follow and digital and embedded risk programs.

On 3rd September 2025, Skyward Specialty entered into a definitive agreement to acquire 100% of Apollo for a total consideration of $555 million from Alchemy, management, employees, and other strategic investors.

Employees and strategic investors will receive $184 million in stock consideration, while the remaining $371 million will be paid in cash, with committed debt financing in place.

In December 2025, Skyward Specialty secured the required regulatory and minority shareholder approvals for the acquisition.

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