Bowhead Q1 GWP +24% to $216.7M, net income $16.0M; amends quota share with AFMIC

Bowhead Specialty Holdings Inc.

2026-Q1 EPS reported $0.48 revenue$155,694,000

GWP increased 24% to $216.7M; net income $16.0M ($0.48 diluted EPS), adjusted EPS also $0.48.
Loss ratio flat at 66.9%; expense ratio improved 2.0 pts to 28.4%.
Net investment income up 43.5% to $18.0M; book yield 4.6%.
Amendment: AFMIC termination threshold raised to $1.5B GWP, notice period 365 days, higher ceding commission.
Casualty GWP +20.4% to $147.3M; Baleen digital +313.9% to $11.4M.

item 1.01 item 2.02 item 5.07 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Bowhead Specialty Holdings Inc. reported first quarter ended March 31, 2026 results: net income $16.0 million, EPS $0.48 per diluted share.

Period: first quarter ended March 31, 2026
Net income: $16.0 million
EPS: $0.48 per diluted share
Result: reported results

Exact text from the filing

Bowhead Specialty Holdings Inc. (NYSE: BOW), today announced financial results for the first quarter ended March 31, 2026. (1) First Quarter 2026 Highlights • Gross written premiums increased 24.0% to $216.7 million. • Net income of $16.0 million, or $0.48 per diluted share.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Bowhead Specialty Holdings Inc. amended Amended and Restated Insurance Trust Agreement with American Family Mutual Insurance Company, S.I.; U.S. Bank National Association valued at Trust Amendment amends collateralization requirements to reflect increased collateralization require (effective 2026-05-04).

Action: amendment
Counterparty: American Family Mutual Insurance Company, S.I.; U.S. Bank National Association
Value: Trust Amendment amends collateralization requirements to reflect increased collateralization require
Effective: 2026-05-04

Exact text from the filing

On May 4, 2026, BICI, AFMIC and US Bank National Association entered into Amendment No. 1 (the “Trust Amendment”) to the Amended and Restated Insurance Trust Agreement, dated as of May 23, 2024, among BICI, AFMIC and U.S. Bank National Association, as trustee (the “Amended and Restated Trust Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Bowhead Specialty Holdings Inc. amended Amended and Restated Quota Share Reinsurance Agreement with American Family Mutual Insurance Company, S.I. valued at Amendment modifies termination threshold, notice period, ceding commission, and collateralization re (effective 2026-05-04).

Action: amendment
Counterparty: American Family Mutual Insurance Company, S.I.
Value: Amendment modifies termination threshold, notice period, ceding commission, and collateralization re
Effective: 2026-05-04

Exact text from the filing

On May 4, 2026, Bowhead Insurance Company, Inc. (“BICI”), a wholly-owned subsidiary of Bowhead Specialty Holdings Inc., (the “Company”), entered into Amendment No. 1 (the “Amendment”) to the Amended and Restated Quota Share Reinsurance Agreement, dated as of May 23, 2024, between American Family Mutual Insurance Company, S.I. (“AFMIC”), and the Company (the “Amended and Restated Quota Share Agreement”).

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bowhead Specialty Holdings Inc. shareholders approved Ratification of Appointment of PricewaterhouseCoopers LLP as Independent Registered Public Accounting Firm at the 2026-04-30 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2026-04-30

Exact text from the filing

Votes For Votes Against Abstentions Broker Non-Votes 29,863,133 839 7,398 0

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Bowhead Specialty Holdings Inc. shareholders approved Election of Class II Directors at the 2026-04-30 meeting.

Proposal: director election
Outcome: passed
Meeting: 2026-04-30

Exact text from the filing

Name For Withheld Broker Non-Votes Zhak Cohen 27,572,534 165,104 2,133,732 David Foy 27,515,222 222,416 2,133,732 David Holman 20,360,433 7,377,205 2,133,732 Price Lowenstein 27,662,600 75,038 2,133,732

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Source: SEC EDGAR

accession 0001628280-26-030113

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