Bowhead Specialty (BOW) Registration Filing summary

Company overview and business model

• Founded in September 2020, backed by private equity and a strategic insurance partner to address unmet demand for specialized insurance solutions in complex lines of business.

• Offers commercial specialty property and casualty insurance, focusing on casualty, professional liability, and healthcare liability risks.

• Policies are issued through a wholly-owned managing general agency and reinsured 100% to a wholly-owned insurance company subsidiary, leveraging a partnership with a major insurer for efficient capital deployment.

• Operates as a remote-friendly organization, attracting top underwriting talent and emphasizing operational excellence and service.

Use of proceeds and capital allocation

• Net proceeds from the sale of securities will be used for general corporate purposes unless otherwise specified in a prospectus supplement.

• No proceeds will be received from sales by selling securityholders.

Risk factors and disclosures

• Risks include underwriting risk, competition, reliance on strategic partners, distribution channel risks, adequacy of reserves, reinsurance recoverability, regulatory compliance, cyber threats, and key personnel retention.

• Additional risks are detailed in the company's annual and quarterly reports incorporated by reference.