Bowhead Specialty Holdings Inc. officially announced its financial results for the third quarter ended September 30, 2024, confirming strong preliminary figures. The company reported gross written premiums between $193 million and $200 million, representing a 27% to 34% increase year over year.
The combined ratio for the quarter was between 93.5% and 95.5%, driven by an expected loss ratio of 64.0% to 65.0% and an expense ratio of 29.5% to 30.5%. Net income for the period was between $11.5 million and $12.5 million.
Diluted adjusted earnings per share were reported in the range of $0.36 to $0.39, exceeding analyst consensus estimates. The company's net investment income also contributed positively, reaching between $11 million and $12 million for the quarter.
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