Insurer Bowhead Specialty Seeks About $491M Valuation in IPO
Insurer Bowhead Specialty is targeting a valuation of about $491 million in its initial public offering in the United States, as it joins a slew of companies preparing to list amid a rebound in the capital markets.
After a two-year dry spell, the U.S. IPO market is on the road to recovery in 2024, helped by firming bets of a soft landing for the world’s largest economy and increasing investor appetite for new listings, although the revival has been uneven so far.
Bowhead was founded in 2020 and has presence across U.S. specialty and casualty insurance markets. It is an affiliate of business and personal insurer American Family Insurance.
Bowhead will list its common stock on the New York Stock Exchange under the symbol “BOW.”
J.P. Morgan, Morgan Stanley and Keefe, Bruyette & Woods are the lead underwriters of the offering.
Related:
Insurer Bowhead Specialty’s IPO Filing Shows Profit More Than Doubled in 2023
- Chubb Q3 Net Income Down Slightly on More Catastrophe Losses
- Florida AG Says His Office Investigating ‘Anti-Public Adjuster’ Endorsements in Policies
- How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage
- Adjuster Created Law Firm and Fake Claim to Defraud Insurer of $1M, Officials Charge