Bowhead Specialty Holdings Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
BOW$34.32+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income and Comprehensive Income (Loss)
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| ($ in thousands, except share and per share data) | |||
| Revenues | |||
| Gross written premiums | $695,717 | $507,688 | $356,948 |
| Ceded written premiums | (244,295) | (173,016) | (111,834) |
| Net written premiums | 451,422 | 334,672 | 245,114 |
| Change in net unearned premiums | (66,311) | (70,770) | (62,251) |
| Net earned premiums | 385,111 | 263,902 | 182,863 |
| Net investment income | 40,121 | 19,371 | 4,725 |
| Net realized investment losses | (16) | — | — |
| Other insurance-related income | 444 | 125 | 14 |
| Total revenues | 425,660 | 283,398 | 187,602 |
| Expenses | |||
| Net losses and loss adjustment expenses | 248,099 | 166,282 | 111,761 |
| Net acquisition costs | 32,397 | 20,935 | 15,194 |
| Operating expenses | 89,112 | 63,456 | 45,986 |
| Non-operating expenses | 2,807 | 630 | — |
| Warrant expense | 1,917 | — | — |
| Credit facility interest expenses and fees | 725 | — | — |
| Foreign exchange losses (gains) | 68 | (20) | — |
| Total expenses | 375,125 | 251,283 | 172,941 |
| Income before income taxes | 50,535 | 32,115 | 14,661 |
| Income tax expense | (12,292) | (7,068) | (3,405) |
| Net income | $38,243 | $25,047 | $11,256 |
| Other comprehensive income (loss) | |||
| Change in unrealized loss on investments (net of income tax (expense) of $(58), $(1,413) and $4,247, respectively) | 218 | 5,317 | (15,975) |
| Total comprehensive income (loss) | $38,461 | $30,364 | $(4,719) |
| Earnings per share: | |||
| Basic | $1.31 | $1.04 | $0.47 |
| Diluted | $1.29 | $1.04 | $0.47 |
| Weighted average shares outstanding: | |||
| Basic | 29,261,209 | 24,000,000 | 24,000,000 |
| Diluted | 29,677,196 | 24,000,000 | 24,000,000 |
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