Global property fell 15.3% to $71.1 million, Captives dropped 16.6% to $64.3 million, while energy solutions declined 16.2% to $62.7 million. On the Q1 2026 earnings call, management attributed the captives decline to a competitor writing terms it considered unsustainable and said the pullback was deliberate. The property and energy contractions track the broader softening of E&S property rates. For brokers and MGAs with property or captive submissions currently pending with Skyward, the practical takeaway is to expect continued selective underwriting rather than broad-based capacity expansion in those two lines specifically, at least while the carrier is deliberately walking away from terms it views as unsustainable. Agriculture and A&H submissions, by contrast, are likely to find a more receptive appetite given the deliberate build-out underway in both.
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