Bowhead Specialty Q2 2026 Results and $1.2B Acquisition

New York, New York. Bowhead Specialty Holdings Inc. (NYSE: BOW) has announced its financial results for the second quarter ended June 30, 2026, alongside the major development that it has entered into a definitive merger agreement. Under this agreement, American Family will acquire Bowhead in an all-cash transaction valued at approximately $1.2 billion, or $34.00 per share.

Reflecting on the acquisition, Bowhead CEO Stephen Sills highlighted the strong partnership and shared values between the two organizations, noting that the combination creates significant value for stockholders while maintaining a commitment to disciplined underwriting.

Financial Highlights

• Gross written premiums increased 28.2% to $297.9 million.
• Net income reached $16.1 million, or $0.48 per diluted share.
• Adjusted net income was reported at $16.1 million, or $0.48 per diluted share.
• Return on equity stood at 13.8%.
• Net investment income rose 37.6% to $18.8 million.

The company also noted that due to the acquisition announcement, it has cancelled its previously scheduled earnings conference call. The growth in the second quarter was driven by significant increases in the Casualty and Baleen Specialty divisions, alongside improved operational efficiency as evidenced by a lower expense ratio of 28.6% compared to 30.6% in the same period of 2025.