Bowhead Specialty rises after Q4 profit beats expectations

Bowhead Specialty Holdings

25/02/2025 15:42

** Shares of insurer Bowhead Specialty BOW.N rise as much as 11.3%; last up 9.1% at $34.32

** BOW posts Q4 adjusted EPS of 42 cents/shr, beating Wall Street expectations of 33 cents, according to data compiled by LSEG

** Q4 net written premiums jumped 26.6% to $120.2 million, largely driven by growth in its casualty business

** Meanwhile, net investment income vaulted 79.8% to $12.2 million in the quarter, driven by an increase in its investment portfolio and higher yields on assets

** BOW, whose name is inspired by bowhead whales - the longest living mammals on earth, went public in New York in May after upsized 7.5 million share IPO was priced at $17

** J.P. Morgan analyst Pablo Singzon says the timing of BOW's entry into the property and casualty market and its clean balance sheet position it well against insurers struggling with legacy reserves

** As of last close, BOW stock down 11.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))