Houston International Insurance Group’s new CEO Andrew Robinson has taking a big step: Changing the company’s name.
Going forward, HIIG is now Skyward Specialty Insurance Group, or Skyward Specialty for short. Robinson, who became CEO of the specialty insurer in May, said the new name is part of a number of strategic actions designed to help the insurer standout from the competition and capitalize on changing market conditions.
“The name ‘Skyward Specialty Insurance’ more clearly describes who we are today, better reflects our strategy, and conveys the company’s promise to our clients and distribution partners,” Robinson said in prepared remarks. “The word ‘Skyward’ is about the power to see farther and have a broader perspective, while ‘Specialty’ reinforces the company’s self-identification with products and solutions that are tailored to our clients’ unique and special needs.”
Robinson added that the rebranding effort also reflects a culture and market shift within the company and the industry itself.
“Recognizing the challenges our clients face, Skyward Specialty aims to create lasting impact at a time of dramatic change,” Robinson said. “The level of risk today is different and has never been greater; Skyward Specialty is about an adjustment of perspective and the capabilities needed to better address those challenges and risks to achieve success beyond convention.”
The Houston, Texas-based company has taken a number of steps this year to position itself for new growth. There was a $100 million capital raise earlier in 2020, the company noted, adding that it has also hired “several high-profile professionals” and expanded its product offerings. Within that last few months, that has included the launch of a new business focused on serving the E&S wholesale brokerage channel for their liability and property needs; the expansion of its private company and launch of an excess public Directors & Officers (D&O) offering capability, and the expansion of its offerings in large commercial property.
Skyward Specialty is a property and casualty insurance holding company formed in 2007 with nearly $1 billion in premium and $2 billion in assets. Its specialty lines businesses include management and professional liability, medical stop loss, surety, E&S property and liability, and large commercial property, as well as multi-line solutions for the energy, trucking and construction industries.
Skyward Specialty’s subsidiary insurance companies consist of Houston Specialty Insurance Company; Imperium Insurance Company; Great Midwest Insurance Company; Oklahoma Specialty Insurance Company; and Boston Indemnity Company, Inc.
Source: Skyward Specialty