Bowhead Acquired by American Family for $1.2B, $34.00/Share Cash

Bowhead Specialty Holdings Inc. announced it has entered into a definitive merger agreement to be acquired by American Family Mutual Insurance Company, S.I. for $34.00 per share in cash. The all-cash transaction values Bowhead at approximately $1.2 billion, representing an 11% premium to its closing share price on July 31, 2026. The company also reported strong second-quarter 2026 financial results, with gross written premiums increasing 28.2% to $297.9 million and net income reaching $16.1 million, or $0.48 per diluted share. The previously scheduled Q2 earnings conference call has been cancelled due to the merger announcement.