HIGHOutside partyCounterparty
100%
AmFam
“10-K Item 1A: 'AmFam cedes 100.0% of this risk, along with the premiums to BICI and receives a ceding fee that is 2.75% on net premiums assumed.'”
BOW · Concentration risk · 10-K extracted
Bowhead Specialty Holdings (BOW) concentration risks
Updated
The most significant concentration Bowhead Specialty Holdings discloses is AmFam at 100%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Bowhead Specialty Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH3
MEDIUM0
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHOutside partyCustomer
70.3%
four brokers
“10-K Item 1A: '70.3%, or $606.6 million, of our gross written premiums were distributed through four of our approximately 67 brokers'”
HIGHBuilt-inProduct / Revenue mix
63.8%
Casualty
“10-K Item 1: 'Casualty| $| 550,666 | | | 63.8 | %'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-26Bowhead Specialty's concentration exposures are all high-share, spanning reinsurance, distribution, and product mix. AmFam cedes 100.0% of certain risk, along with premiums, to BICI in exchange for a 2.75% ceding fee on net premiums assumed — a complete, high-share dependency on that specific counterparty arrangement. On the distribution side, 70.3%, or $606.6 million, of gross written premiums were distributed through just four of the company's approximately 67 brokers — a high-share dependency concentrated in a small handful of broker relationships relative to the size of the overall broker network. On the product side, the Casualty line accounted for 63.8% of business, also a high-share concentration, but one that is structural — a reflection of the company's line-of-business mix rather than a counterparty relationship. Together, these exposures point to a business whose near-term economics hinge less on any single named client and more on a small number of pivotal relationships: the AmFam/BICI ceding arrangement and the concentrated four-broker distribution channel, both dependency-type exposures that could disrupt a large share of premium flow if interrupted, layered on top of a product mix still weighted heavily toward Casualty as a structural feature of the underwriting book.
For the engine’s reasoning on BOW’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Insurance - Property & Casualty
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| BOW● | Bowhead Specialty Holdings Inc. | 3 | 0 | 0 | 3 |
| ASIC | Ategrity Specialty Insurance Co | 2 | 1 | 1 | 4 |
| AIZ | Assurant, Inc. | 1 | 2 | 0 | 3 |
| ALL | Allstate Corporation (The) | 1 | 0 | 0 | 1 |
| AFG | American Financial Group, Inc. | 0 | 0 | 2 | 2 |
| ACIC | American Coastal Insurance Corp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.