Strong Growth in Gross Written Premiums
Bowhead reported a 17.5% year-over-year increase in gross written premiums, amounting to approximately $232 million for the third quarter.
Significant Increase in Adjusted Net Income
Adjusted net income rose by 25.5%, reflecting the company's effective management strategies and operational efficiencies.
Improved Expense Ratio
The company achieved an expense ratio of 29.5%, a decrease of 40 basis points year-over-year, driven by technology and operational efficiencies.
Baleen's Impressive Growth
Baleen generated $6.2 million in premium during the quarter, marking an 83% growth from Q2 and exceeding the total premiums written in the first half of 2025.
Increase in Net Investment Income
Net investment income increased by 31% year-over-year to $15 million, reflecting a higher balance of investments and higher yields.