American Family to acquire Bowhead Specialty Holdings in deal worth $1.2 billion

American Family Mutual Insurance Company agreed to acquire all outstanding shares of Bowhead Specialty Holdings Inc. that it does not currently own for $34 per share in cash, valuing the transaction at approximately $1.2 billion. Bowhead provides casualty, professional liability, and healthcare liability insurance products through traditional underwriting and digital distribution. The company reported second-quarter 2026 gross written premiums of $297.9 million, up 28.2% year-over-year, with net income of $16.1 million.