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Bowhead Specialty Holdings BOW Business Segments — IBNR

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Other financials

Income statement

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Revenue$155.7M+26.9%
Net income$16.0M+40.1%
EPS (diluted)$0.48+41.2%

Balance sheet

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Cash & equivalents$141.5M+14.6%
Total debt$146.5M
Total equity$457.9M+17.1%
Total assets$2.5B+41.4%

Cash flow

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Operating cash flow$65.5M+37.2%
CapEx$1.3M+4.5%
Free cash flow$64.2M+38.0%

Valuation

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Market cap$1.1B+8.4%
Enterprise value$1.11B
P/E18.9×-1.7×
P/S1.9×-0.2×

Profitability

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Net margin10%+0.7pp
FCF margin58.8%-6.0pp

Returns & leverage

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Return on equity13.8%
Debt / equity0.3×

Where this comes from

Reported directly by Bowhead Specialty Holdings in its filing.

Tagged under the XBRL concept us-gaap:ShortdurationInsuranceContractsIncurredButNotReportedIbnrClaimsLiabilityNet.

The source filing: Bowhead Specialty Holdings’s 10-K, filed February 24, 2026.

Filed
Feb 24, 2026, 4:13 PM EST
Fiscal year
FY2025
Accession
0001628280-26-011089
Line itemNet Losses and Loss Adjustment Expenses Incurred / For the Years Ended December 31,As of December 31, 2025
Accident Year2025IBNR
($ in thousands)
2021$$$$$17,025$5,641
202260,19837,191
202397,98370,189
2024158,184133,224
2025213,579210,786
Total incurred$546,969

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Bowhead Specialty Holdings's business segments — IBNR?
Bowhead Specialty Holdings (BOW) reported business segments — IBNR of $210.79M in Q4 2025.
What does business segments — IBNR mean?
Incurred But Not Reported (IBNR) reserves represent the estimated liability for claims that have occurred but have not yet been reported to the insurer. This metric is essential for assessing the adequacy of the division's loss reserves and long-term financial stability.

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