Bowhead Specialty Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
BOW$34.32+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Income and Comprehensive Income
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| ($ in thousands, except share and per share data) | ||||
| Revenues | ||||
| Gross written premiums | $196,976 | $148,919 | $510,948 | $361,367 |
| Ceded written premiums | (68,643) | (49,581) | (179,710) | (121,639) |
| Net written premiums | 128,333 | 99,338 | 331,238 | 239,728 |
| Change in net unearned premiums | (23,153) | (28,464) | (52,991) | (51,818) |
| Net earned premiums | 105,180 | 70,874 | 278,247 | 187,910 |
| Net investment income | 11,491 | 5,188 | 27,928 | 12,589 |
| Net realized investment losses | (18) | — | (16) | — |
| Other insurance-related income | 108 | 31 | 171 | 94 |
| Total revenues | 116,761 | 76,093 | 306,330 | 200,593 |
| Expenses | ||||
| Net losses and loss adjustment expenses | 67,824 | 42,796 | 181,162 | 113,664 |
| Net acquisition costs | 9,163 | 5,617 | 23,267 | 15,148 |
| Operating expenses | 22,386 | 16,376 | 65,761 | 45,456 |
| Non-operating expenses | 487 | — | 2,185 | — |
| Warrant expense | 792 | — | 1,125 | — |
| Credit facility interest expenses and fees | 252 | — | 477 | — |
| Foreign exchange losses | 37 | 40 | 67 | 21 |
| Total expenses | 100,941 | 64,829 | 274,044 | 174,289 |
| Income before income taxes | 15,820 | 11,264 | 32,286 | 26,304 |
| Income tax expense | (3,728) | (2,556) | (7,649) | (6,041) |
| Net income | $12,092 | $8,708 | $24,637 | $20,263 |
| Other comprehensive income | ||||
| Change in unrealized loss on investments (net of income tax (expense) benefit of $(2,928), $854, $(2,679), $735, respectively | 11,016 | (3,211) | 10,079 | (2,765) |
| Total comprehensive income | $23,108 | $5,497 | $34,716 | $17,498 |
| Earnings per share: | ||||
| Basic | $0.37 | $0.36 | $0.88 | $0.84 |
| Diluted | $0.36 | $0.36 | $0.87 | $0.84 |
| Weighted average shares outstanding: | ||||
| Basic | 32,658,823 | 24,000,000 | 28,119,193 | 24,000,000 |
| Diluted | 33,263,958 | 24,000,000 | 28,352,420 | 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.