American Family to acquire Bowhead Specialty for $34/share in $1.2B all-cash deal

Bowhead Specialty Holdings Inc.

• Stockholders receive $34.00 per share, an 11% premium to July 31, 2026 close.
• Transaction valued at ~$1.2B; expected close by April 2, 2027, subject to regulatory and stockholder approvals.
• Q2 2026 gross written premiums up 28.2% to $297.9M; net income $16.1M ($0.48 diluted EPS).
• Adjusted net income $16.1M ($0.48 diluted EPS); book value per share $14.39.
• Earnings conference call cancelled due to pending merger.