Earnings summaries and quarterly performance for Bowhead Specialty Holdings.
Executive leadership at Bowhead Specialty Holdings.
Board of directors at Bowhead Specialty Holdings.
AB
Angela Brock-Kyle
Detailed
Director
AS
Ava Schnidman
Detailed
Director
DF
David Foy
Detailed
Director
DH
David Holman
Detailed
Director
FJ
Fabian J. Fondriest
Detailed
Director
MB
Matthew Botein
Detailed
Chair of the Board
PL
Price Lowenstein
Detailed
Director
TB
Tom Baker
Detailed
Director
TV
Troy Van Beek
Detailed
Director
ZC
Zhak Cohen
Detailed
Director
Research analysts who have asked questions during Bowhead Specialty Holdings earnings calls.
PS
Pablo Singzon
JPMorgan Chase & Co.
7 questions for BOW
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Meyer Shields
Keefe, Bruyette & Woods
6 questions for BOW
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BH
Bob Huang
Morgan Stanley
3 questions for BOW
Also covers: AIG, ALL, AON +7 more
CB
Cameron Bianchi
Piper Sandler Companies
3 questions for BOW
CM
Cave Montazeri
Deutsche Bank
3 questions for BOW
Also covers: ACGL, AHL, AJG +5 more
Matthew Carletti
Citizens JMP Securities
2 questions for BOW
Also covers: AII, AMSF, FIHL +12 more
RM
Roland Meyer
RBC Capital Markets
2 questions for BOW
Also covers: ACGL, IGIC, THG
SH
Scott Heleniak
RBC Capital Markets
2 questions for BOW
Also covers: BRO, FRFHF, GSHD +8 more
Dean Criscitiello
Keefe, Bruyette & Woods
1 question for BOW
Also covers: AJG, AON, AXS +3 more
JH
Jian Huang
Morgan Stanley
1 question for BOW
Also covers: AIZ, ALL, CB +10 more
JP
Jon Paul Newsome
Piper Sandler & Co.
1 question for BOW
Also covers: AFG, AIG, AON +15 more
Matt Carletti
Citizens JMP
1 question for BOW
Also covers: AHL, AMSF, EIG +8 more
PN
Paul Newsome
Piper Sandler Companies
1 question for BOW
Also covers: AFG, AHL, AIG +17 more
RM
Rowland Mayor
Oppenheimer & Co. Inc.
1 question for BOW
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SS
Siddharth Shah
Morgan Stanley
1 question for BOW
Recent press releases and 8-K filings for BOW.
Bowhead Specialty Reports Strong Full-Year 2025 Financial Results and Provides 2026 Outlook
BOW
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bowhead Specialty reported strong full-year 2025 results, with gross written premiums (GWP) increasing 24% to approximately $863 million and adjusted net income growing 30.2% to $55.6 million, resulting in diluted adjusted earnings per share of $1.65 and an adjusted return on equity of 13.6%.
- The company achieved a full-year 2025 expense ratio of 29.8%, which was better than expected, and a combined ratio of 96.5%. This reduction in the expense ratio was driven by the continued scaling of the business and the realization of various technology initiatives.
- Growth in 2025 was primarily driven by the casualty division, which saw GWP increase 28% to $551 million, and contributions from the digital underwriting model, Baleen, which generated over $21 million.
- For 2026, Bowhead Specialty expects GWP growth of around 20%, with the loss ratio in the mid to high 60s, the expense ratio below 30%, and a combined ratio in the mid to high 90s, targeting a mid-teens return on equity.
- In November, the company issued $150 million of 7.75% senior unsecured notes scheduled to mature on December 1, 2030, to support year-end 2026 regulatory capital requirements.
Feb 24, 2026, 1:30 PM
Bowhead Specialty Reports Strong Full-Year 2025 Results and Provides 2026 Outlook
BOW
Earnings
Guidance Update
Debt Issuance
- Bowhead Specialty reported strong full-year 2025 financial results, with adjusted net income increasing 30.2% to $55.6 million and diluted adjusted earnings per share of $1.65, achieving an adjusted return on equity of 13.6%.
- Gross written premiums (GWP) grew 24% to $862.8 million for the full year 2025, primarily driven by the Casualty division and the Baleen digital platform, which generated over $21 million.
- The company achieved a full-year 2025 expense ratio of 29.8%, a 1.6-point decrease from 2024, resulting in a combined ratio of 96.5%.
- For 2026, Bowhead anticipates GWP growth of around 20%, with a loss ratio in the mid to high 60s, an expense ratio below 30%, and a combined ratio in the mid to high 90s, targeting a mid-teens return on equity.
- In November 2025, Bowhead issued $150 million of 7.75% senior unsecured notes due December 2030, to meet regulatory capital requirements.
Feb 24, 2026, 1:30 PM
Bowhead Specialty Holdings Reports Strong FY 2025 Results and Provides Positive 2026 Outlook
BOW
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bowhead Specialty Holdings reported strong financial results for full-year 2025, with gross written premiums (GWP) increasing 24% to $863 million, adjusted net income growing 30.2% to $55.6 million, and diluted adjusted earnings per share of $1.65. The company achieved an adjusted return on equity of 13.6% and an improved expense ratio of 29.8%.
- Growth was driven by all divisions, with Casualty GWP increasing 28% to $551 million for the full year, and the digital underwriting platform, Baleen, generating over $21 million.
- For 2026, Bowhead anticipates continued profitable premium growth of around 20%, primarily led by the Casualty division and digital capabilities, with an expected expense ratio below 30%, a combined ratio in the mid to high 90s, and return on equity in the mid-teens.
Feb 24, 2026, 1:30 PM
Bowhead Specialty Reports Strong Full-Year 2025 Results and Provides 2026 Outlook
BOW
Earnings
Guidance Update
Debt Issuance
- Bowhead Specialty delivered full-year 2025 gross written premiums (GWP) of $863 million, a 24% increase year-over-year, exceeding its 20% expectation, and saw adjusted net income grow 30.2% to $55.6 million.
- For the full year 2025, the company achieved a diluted adjusted earnings per share of $1.65 and an adjusted return on equity of 13.6%. Its expense ratio improved to 29.8%, contributing to a combined ratio of 96.5%.
- Looking ahead to 2026, Bowhead projects GWP growth of approximately 20%, an expense ratio below 30%, a combined ratio in the mid to high 90s, and return on equity in the mid-teens.
- In November, the company issued $150 million of 7.75% senior unsecured notes due December 1, 2030, to meet year-end 2026 regulatory capital requirements.
Feb 24, 2026, 1:30 PM
Bowhead Specialty Reports Strong Q4 and Full-Year 2025 Results with Positive 2026 Outlook
BOW
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bowhead Specialty reported strong full-year 2025 results, with gross written premiums (GWP) increasing 24% to approximately $863 million, adjusted net income growing over 30%, and diluted adjusted earnings per share reaching $1.65.
- The company achieved a full-year 2025 combined ratio of 96.5%, driven by a 66.7% loss ratio and a 29.8% expense ratio, which was below their initial expectation.
- For 2026, Bowhead anticipates continued profitable premium growth of around 20%, primarily led by its casualty division and expanding digital underwriting capabilities, with an expected combined ratio in the mid to high 90s and return on equity in the mid-teens.
- Total equity reached $449 million by year-end 2025, leading to a diluted book value per share of $13.45, an increase of 22% from year-end 2024.
Feb 24, 2026, 1:30 PM
Bowhead Specialty Holdings Inc. Reports Strong Q4 and Full Year 2025 Results
BOW
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Bowhead Specialty Holdings Inc. reported full-year 2025 gross written premiums of $862.8 million, a 24.0% increase from the previous year, with net income of $53.8 million and adjusted net income of $55.6 million.
- For the fourth quarter of 2025, gross written premiums increased 21.3% to $224.1 million, and diluted adjusted earnings per share were $0.47.
- The company achieved a full-year 2025 expense ratio of 29.8% and a combined ratio of 96.5%, alongside an adjusted return on equity of 13.6%.
- The digital underwriting model, Baleen, generated over $21 million in premiums in its first full year, validating the company's digital strategy.
- Bowhead anticipates gross written premium growth of around 20% in 2026, primarily driven by its Casualty division.
Feb 24, 2026, 12:04 PM
Bowhead Specialty Holdings Inc. secures $35 million revolving credit facility
BOW
Debt Issuance
New Projects/Investments
- Bowhead Specialty Holdings Inc. entered into a senior revolving credit agreement on November 26, 2025, establishing a $35 million senior secured revolving credit facility with PNC Bank, National Association as the administrative agent.
- The facility is intended to finance general corporate purposes, including future growth, working capital, capital expenditures, and debt refinancing, and is secured by a first-priority lien on substantially all of the company's assets.
- The revolving credit facility matures on the earlier of November 26, 2027, or 91 days prior to the termination of any MGA Agreement.
- Key financial covenants include a limit on maximum total debt equal to 35% of the company's total capitalization and a minimum Consolidated Net Worth starting at $319,115,000 plus certain additions.
Dec 1, 2025, 9:57 PM
Bowhead Specialty Holdings Inc. Issues $150 Million Senior Notes
BOW
Debt Issuance
New Projects/Investments
- Bowhead Specialty Holdings Inc. completed a public offering of $150,000,000 aggregate principal amount of its 7.750% Senior Notes due 2030 on November 25, 2025.
- The Notes will bear interest at 7.750% per year, payable semi-annually on June 1 and December 1, commencing June 1, 2026, and will mature on December 1, 2030.
- The company intends to use the net proceeds, which totaled $147,000,000 before expenses, to make capital contributions to its insurance company subsidiary to grow its business and for other general corporate purposes.
- A key covenant for the Notes is that the Consolidated Indebtedness to GAAP Capitalization Ratio must not exceed 40%.
Nov 25, 2025, 10:12 PM
Bowhead Specialty Reports Strong Q3 2025 Financial Results and Capital Strategy
BOW
Earnings
Debt Issuance
Revenue Acceleration/Inflection
- Bowhead Specialty delivered strong Q3 2025 financial results, with gross written premiums increasing 17.5% year over year to approximately $232 million and diluted adjusted earnings per share (EPS) rising 23.7% to $0.47. Adjusted net income increased 25.5%.
- The company achieved an expense ratio of 29.5% for the quarter, a 40 basis point decrease year over year, driven by technology investments and operational efficiencies. This contributed to a combined ratio of 95.4%.
- Growth was primarily driven by the casualty division, which grew 20% to $145 million, and Baleen, which generated $6.2 million in premiums, an 83% increase from Q2. Net investment income also increased 31% year over year to $15 million.
- Bowhead plans to access capital through resources other than equity markets by the end of the year, leveraging available debt capacity to support faster-than-anticipated growth, and will not raise equity.
Nov 4, 2025, 1:30 PM
Bowhead Specialty Holdings Inc. Reports Third Quarter 2025 Results
BOW
Earnings
Revenue Acceleration/Inflection
- Bowhead Specialty Holdings Inc. announced strong financial results for the third quarter ended September 30, 2025.
- Gross written premiums increased 17.5% to $231.5 million in Q3 2025.
- The company reported net income of $15.2 million, or $0.45 per diluted share, and adjusted net income of $15.8 million, or $0.47 per diluted share for the quarter.
- Net investment income rose 30.9% to $15.0 million in Q3 2025, contributing to a combined ratio of 95.4%.
Nov 4, 2025, 12:00 PM
Quarterly earnings call transcripts for Bowhead Specialty Holdings.
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