Overview

• Specialty insurance group's Q4 gross written premiums rose 21.3% yr/yr

• Adjusted EPS for Q4 beat analyst expectations

• Adjusted net income for Q4 missed analyst estimates

Outlook

• Bowhead expects 2026 GWP growth of around 20% driven by Casualty division

• Company's digital expansion aims for sustainable and profitable growth

Result Drivers

• GROSS WRITTEN PREMIUMS - Q4 gross written premiums rose 21.3%, driven by growth in Casualty division and digital model success

• EXPENSE RATIO - Improved due to scaling and prudent management, despite rise in net acquisition costs

• LOSS RATIO - Increased due to higher expected loss ratios in certain reserves and portfolio mix changes

Company press release: ID:nBw7Tzgb2a

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the property & casualty insurance peer group is "buy"

• Wall Street's median 12-month price target for Bowhead Specialty Holdings Inc is $33.00, about 33.1% above its February 23 closing price of $24.79

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.