Bowhead Specialty Holdings Inc. (BOW Proposed), a New York-based specialty property and casualty insurance company, disclosed terms for its $100 million IPO and launched the deal early today – Monday, May 13, 2024 – for pricing next week. The profitable P&C insurance company is offering 6.67 million shares at a price range of $14.00 to $16.00 to raise $100.0 million, if priced at the $15.00 mid-point. This is a New York Stock Exchange listing. (Please see our IPO Calendar for the pricing date.)
Bowhead Specialty Holdings would have a market cap of about $ 460.05 million, based on mid-point pricing at $15.00.
J.P. Morgan, Morgan Stanley and Keefe, Bruyette & Woods are the joint book-runners.
Bowhead Specialty Holdings, based in New York, N.Y., offers specialty P&C insurance, professional liability insurance and healthcare risk insurance, the prospectus says:
-
Bowhead’s Casualty Division offers liability insurance to cover risks in the construction, distribution, heavy manufacturing, real estate and hospitality segments;
-
Its Professional Liability Division provides underwriting solutions on both an admitted and an E&S (Excess & Surplus) basis to standard and nonstandard risk for publicly traded and privately held financial institutions and nonprofit organizations, and
-
Its Healthcare Division focuses exclusively on healthcare entities, providing tailored solutions for liability insurance across four major healthcare segments – hospitals, senior care providers, managed care organizations and miscellaneous medical facilities.