Apollo Underwriting
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Apollo Underwriting - overview
Established
2009
Location
London, -, UK
Primary Industry
Insurance
About
Based in London, UK, and founded in 2009, Apollo Underwriting Ltd. operates as a provider of insurance and reinsurance services to homeowners and small commercial businesses to large multinational entities. In September 2025, Skyward Specialty Insurance Group agreed to fully acquire Apollo Underwriting Ltd. from Alchemy Partners for USD 555 million.
The transaction was closed in January 2026. The acquisition enables Skyward Specialty Insurance Group to bring new specialty niches, a distinctive new economy offering, accelerating innovation, and adding Apollo’s advanced technology capabilities.
Current Investors
Alchemy Partners
Primary Industry
Insurance
Sub Industries
Reinsurance, Insurance Intermediaries, Commercial Insurance, Claims Administration & Processing
Website
www.apollounderwriting.com/
Verticals
InsureTech
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
Apollo Underwriting - timeline of key events
Apollo Underwriting - financials
| Fiscal Year Ended | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 939,694 | 3,894,488 | 3,021,779 | 3,059,920 | 4,451,177 | 4,171,533 | 7,000,368 | - | - | - |
| % Revenue Growth (YoY) | - | 314.4% | (22.4%) | 1.3% | 45.5% | (6.3%) | 67.8% | - | - | - |
| EBITDA (USD) | 64,713 | 175,890 | 286,282 | 379,552 | 642,559 | 602,397 | 723,412 | - | - | - |
| Operating Income (USD) | 64,713 | 175,890 | 286,282 | 379,552 | 642,559 | 602,397 | 723,412 | - | - | - |
| Operating Margin | 6.9% | 4.5% | 9.5% | 12.4% | 14.4% | 14.4% | 10.3% | - | - | - |
| % EBITDA Margin | 6.9% | 4.5% | 9.5% | 12.4% | 14.4% | 14.4% | 10.3% | - | - | - |
| NET Income (USD) | 52,312 | 142,123 | 231,418 | 309,106 | 523,837 | 489,916 | 586,156 | - | - | - |
| % Net Margin | 5.6% | 3.6% | 7.7% | 10.1% | 11.8% | 11.7% | 8.4% | - | - | - |
Apollo Underwriting - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Trade Sale | Completed | Apollo Underwriting | - | ||||||||
| Growth | Completed | Apollo Underwriting | - |
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Apollo Underwriting - employee data
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