Bowhead Specialty Holdings Inc.
For the period ended Dec 31, 2025. Filed Feb 24, 2026.
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FY2025 · Filed Feb 24, 2026
BOW$34.32+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income and Comprehensive Income
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| ($ in thousands, except share and per share data) | |||
| Revenues | |||
| Gross written premiums | $862,806 | $695,717 | $507,688 |
| Ceded written premiums | (304,619) | (244,295) | (173,016) |
| Net written premiums | 558,187 | 451,422 | 334,672 |
| Change in net unearned premiums | (66,510) | (66,311) | (70,770) |
| Net earned premiums | 491,677 | 385,111 | 263,902 |
| Net investment income | 57,827 | 40,121 | 19,371 |
| Net realized investment gains (losses) | 43 | (16) | — |
| Other insurance-related income | 2,042 | 444 | 125 |
| Total revenues | 551,589 | 425,660 | 283,398 |
| Expenses | |||
| Net losses and loss adjustment expenses | 328,022 | 248,099 | 166,282 |
| Net acquisition costs | 46,513 | 32,397 | 20,935 |
| Operating expenses | 102,264 | 89,112 | 63,456 |
| Non-operating expenses | 1,425 | 2,807 | 630 |
| Warrant expense | 3,142 | 1,917 | — |
| Interest expense and financing fees | 2,012 | 725 | — |
| Loss on extinguishment of credit facility | 862 | — | — |
| Foreign exchange losses (gains) | 50 | 68 | (20) |
| Total expenses | 484,290 | 375,125 | 251,283 |
| Income before income taxes | 67,299 | 50,535 | 32,115 |
| Income tax expense | (13,513) | (12,292) | (7,068) |
| Net income | $53,786 | $38,243 | $25,047 |
| Other comprehensive income | |||
| Change in unrealized gain (loss) on investments (net of income tax benefit (expense) of $(4,388), $(58) and $(1,413), respectively) | 16,508 | 218 | 5,317 |
| Total comprehensive income | $70,294 | $38,461 | $30,364 |
| Earnings per share: | |||
| Basic | $1.64 | $1.31 | $1.04 |
| Diluted | $1.59 | $1.29 | $1.04 |
| Weighted average shares outstanding: | |||
| Basic | 32,737,932 | 29,261,209 | 24,000,000 |
| Diluted | 33,735,944 | 29,677,196 | 24,000,000 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.