Company Overview - Bowhead is a growing and profitable E&S focused specialty P&C business led by industry veteran, Stephen Sills, with a strategic partnership with American Family Mutual Insurance Company, S.I[16] - The company has a strong underwriting culture and provides sustainable underwriting across market cycles[16] - Bowhead's leadership team has an average of over 30 years of experience[21] Financial Highlights - Bowhead's Last Twelve Months (LTM) Q3'25 Gross Written Premium (GWP) was $823 million[19] - The company's GWP Compound Annual Growth Rate (CAGR) from 2021 through LTM Q3'25 was 42%[19] - Bowhead's LTM September 2025 Combined Ratio was 95.6%, comprised of a 65.5% loss ratio and a 30.1% expense ratio[19,20] - The Year-To-Date (YTD) September 2025 Adjusted Return on Equity (ROE) was 13.3%[19] - Approximately 80% of the company's LTM Q3'25 GWP was written on an E&S basis[21] Market and Strategy - Bowhead focuses on profitable, growing lines in the attractive E&S market, which has been expanding with a '20-'24 DPW CAGR of 20%[11,27] - The company utilizes a fully-integrated and accountable value chain with in-house underwriting expertise[11,40] - Bowhead balances its "craft" underwriting strategy with "flow" business launched in 2024 to manage growth and profitability through underwriting cycles[57]

As filed with the U.S. Securities and Exchange Commission on May 20, 2024. Registration No. 333-278653 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 6331 87-1433334 (I.R.S. Employer Identification Number) 1411 Broadway, Suite 3800 New York, NY 10018 (212) 970-0269 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 3 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Bowhead ...