Investor Presentaiton
SKYWARD SPECIALTY - SUMMARY BALANCE SHEETS (1)
As at
(Currency amounts in millions of US$)
December 31, 2021
December 31, 2020
50.0
78.4
$1,555.1
Adjusted stockholders' equity increased to $435.2 million or
7.6% from Q4 2020 primarily reflecting net income of $38.3
million and $7.6 million of unrealized losses on the fixed
income portfolio
With the investment portfolio actions taken over the past 12
months, the repositioning of Skyward Specialty's investment
platform is largely complete; large cash balances being
deployed following strategic changes within the investment
portfolio
Skyward Specialty's financial position remains strong, with a
debt to capitalization of 22.8% as at December 31, 2021
positioning the company for growth
Skyward Specialty engaged Ernst & Young LLP ("EY”) to
complete Skyward Specialty's independent audit for the years
ended December 31, 2020 and 2021
Investments
Cash and restricted cash
$949.4
107.3
Insurance related assets
936.5
Deferred tax asset
33.7
Goodwill and other intangible assets
91.3
Total assets
$2,118.2
$765.3
113.6
944.2
41.5
84.0
$1,948.6
Insurance related liabilities
Notes payable
Trust preferred securities
$1,563.6
$1,426.7
50.0
78.5
Total liabilities
Stockholders' equity
Stock notes receivable
$1,692.1
$435.2
$404.3
(9.1)
(10.8)
Total stockholders' equity
Total liabilities and stockholders' equity
(1)
$426.1
$2,118.2
$393.5
$1,948.6
December 31, 2020 adjusted to conform to the presentation of the current period and restatement of previously reported figures resulting in a decrease in total assets of $4.6 million, a decrease in total liabilities of $3.4 million and a decrease in total stockholders' equity of $1.2 million. For 16
further details refer to the Skyward Specialty's consolidated financial statements with independent auditor's report as of and for the years ended December 31, 2021 and 2020 filed on SEDAR by the The Westaim Corporation.View entire presentation