Quarterly ResultMay 5, 2026, 07:08 AM
Bowhead Q1 GWP +24% to $216.7M; Net Income $16.0M, EPS $0.48
AI Summary
Bowhead Specialty Holdings Inc. reported strong first-quarter 2026 financial results, with gross written premiums increasing 24.0% to $216.7 million and net income reaching $16.0 million, or $0.48 per diluted share. The company also announced an amendment to its quota share reinsurance agreement, increasing the GWP termination threshold for AFMIC from $1.0 billion to $1.5 billion and adjusting collateralization requirements. Additionally, stockholders elected Class II directors and ratified PricewaterhouseCoopers LLP as the independent auditor at the 2026 annual meeting.
Key Highlights
- Gross written premiums increased 24.0% to $216.7 million in Q1 2026.
- Net income was $16.0 million, or $0.48 per diluted share for the quarter.
- Adjusted net income was $16.0 million, or $0.48 per diluted share.
- Combined ratio improved to 95.3% in Q1 2026 from 97.3% in Q1 2025.
- Adjusted return on equity was 14.1%, up from 12.1% in the prior year period.
- Casualty division GWP grew 20.4% to $147.3 million.
- Baleen Specialty GWP surged 313.9% to $11.4 million.
- Reinsurance agreement GWP termination threshold increased from $1.0 billion to $1.5 billion.