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Bowhead Specialty Holdings BOW Business Segments — Net Losses and Loss Adjustment Expenses Incurred

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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:ShortdurationInsuranceContractsIncurredClaimsAndAllocatedClaimAdjustmentExpenseNet.

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 — net losses and loss adjustment expenses incurred?
Bowhead Specialty Holdings (BOW) reported business segments — net losses and loss adjustment expenses incurred of $546.97M in Q4 2025.
How has Bowhead Specialty Holdings's business segments — net losses and loss adjustment expenses incurred changed year-over-year?
Bowhead Specialty Holdings's business segments — net losses and loss adjustment expenses incurred increased by 250.3% year-over-year, from $156.13M to $546.97M.
What does business segments — net losses and loss adjustment expenses incurred mean?
This represents the total net losses and associated costs incurred by the underwriting division during a specific period, including both paid claims and changes in loss reserves. It is a critical measure of underwriting profitability and the accuracy of initial risk pricing.

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