Bowhead Specialty (BOW) Registration Filing summary

Company overview and business model

• Founded in September 2020 to address unmet demand for specialized insurance solutions in complex lines of business, focusing on commercial specialty property and casualty insurance, including casualty, professional liability, and healthcare liability risks.

• Operates through a mutually beneficial partnership with American Family Mutual Insurance Company (AmFam), issuing policies on AmFam paper and reinsuring 100% to its own insurance subsidiary.

• Utilizes a remote-friendly, nationwide talent model and is led by an experienced underwriting team with a disciplined approach.

Financial performance and metrics

• As of June 2, 2025, 32,781,565 shares of common stock were outstanding.

• The last reported sale price of common stock on June 6, 2025, was $36.02 per share on the NYSE.

Use of proceeds and capital allocation

• Will not receive any proceeds from the sale of shares by selling stockholders; all proceeds go to the selling stockholders.

• Will bear all offering expenses except for underwriting fees, discounts, commissions, and certain transfer taxes, which are paid by the selling stockholders.