Bowhead Specialty Q1 adjusted EPS beats estimates, premiums up 24%

Bowhead Specialty Holdings

05/05/2026 12:07

Overview

US specialty insurer's Q1 gross written premiums rose 24% yr/yr, driven by Casualty and digital growth

Adjusted EPS and adjusted net income for Q1 beat analyst expectations

Expense ratio improved to 28.4% from 30.4% due to scaling and expense management

Outlook

Bowhead Specialty says it remains focused on balanced portfolio growth across market cycles

Result Drivers

CASUALTY AND DIGITAL GROWTH - Co said Q1 premium growth was led by its Casualty portfolio and strong execution in the Baleen digital underwriting platform

EXPENSE RATIO IMPROVEMENT - Scaling of business and expense management lowered operating expense ratio, partially offset by higher broker commissions and ceding fees

HIGHER INVESTMENT INCOME - Net investment income rose 43.5% due to a higher balance of investments

Company press release: ID:nBwb41Vf5a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$0.48
$0.42 (7 Analysts)
Q1 EPS
$0.48
Q1 Adjusted Net Income
Beat
$16.03 mln
$13.82 mln (5 Analysts)
Q1 Net Income
$16.01 mln
Q1 Pretax Profit
$20.57 mln
Q1 ROE
14.10%


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 "hold."

Wall Street's median 12-month price target for Bowhead Specialty Holdings Inc is $30.50, about 31% above its May 4 closing price of $23.28

The stock recently traded at 11 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.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)