Bowhead Q3 profit beats estimates on divisional premium growth
BOW•Bowhead Specialty’s third-quarter adjusted EPS was $0.54, above the $0.51 estimate, while adjusted net income of $18.37 million topped the $17.23 million estimate. Gross written premiums rose 10.8%, including 155% growth in Baleen Specialty.
1. Earnings and premiums
Bowhead Specialty reported third-quarter adjusted EPS of $0.54 and adjusted net income of $18.37 million, beating analyst estimates of $0.51 and $17.23 million, respectively. Gross written premiums increased 10.8%, led by 155% growth in Baleen Specialty, with gains across all divisions.
2. Other results
The loss ratio increased due to lower ceded loss activity and changes in portfolio mix. Digital underwriting models contributed nearly 9% of gross written premiums, while higher investment balances helped lift net investment income 37%. The company did not provide specific financial guidance for future quarters or the full year.
