Financial Performance - Net income for Q3 2024 was $78.3 million, or $0.74 per diluted share, representing a significant increase from $43.6 million in Q3 2023[3][7] - Year-to-date net income reached $366.5 million, with an annualized return on average equity of 22.4%[4] - Net income attributable to common shareholders was $366.5 million, compared to $131.9 million in the previous year, representing a significant increase of $234.6 million[13] - Net income attributable to common shareholders for the three months ended September 30, 2024, was $78,250 thousand, compared to $43,583 thousand in 2023, representing an increase of 79.7%[30] Premiums and Underwriting - Gross premiums written increased by 16.7% to $553.4 million compared to Q3 2023, with net premiums earned rising by 33.2% to $448.8 million[3][8] - The International Segment saw gross premiums written increase by 6.0% to $325.5 million, while the Bermuda Segment experienced a 36.5% increase to $227.9 million[10][11] - Gross premiums written increased by $361.4 million, or 23.8%, to $1.9 billion, with a 15.1% increase in the International Segment and a 34.4% increase in the Bermuda Segment[14] - Net premiums written rose by $351.1 million, or 31.4%, to $1.5 billion, with increases of 24.2% in the International Segment and 38.6% in the Bermuda Segment[14] - Net premiums earned increased by $300.5 million, or 31.5%, to $1.3 billion, with a 26.3% increase in the International Segment and a 37.4% increase in the Bermuda Segment[14] - The combined ratio for Q3 2024 was 93.6%, slightly up from 92.6% in Q3 2023, indicating continued underwriting discipline despite catastrophe losses[2][8] - The combined ratio improved to 89.9%, a decrease of 0.3 percentage points from 90.2% in the previous year[14] - Underwriting income for the three months ended September 30, 2024, was $29,094 thousand, up from $24,866 thousand in 2023, indicating a growth of 16.4%[33] Investment Income - Net investment income for Q3 2024 was $82.8 million, with a notable loss of $11.1 million from the Two Sigma Hamilton Fund[3] - Net investment income for the three months ended September 30, 2024, was $17,330 thousand, compared to $8,069 thousand in 2023, reflecting a significant increase of 114.0%[27] Expenses - Corporate expenses for the year-to-date totaled $41.8 million, including $7.5 million related to the Value Appreciation Pool[4] - Other underwriting expenses for Q3 2024 were $48,332 thousand, an increase of 4.4% from $44,357 thousand in Q3 2023[38] - Corporate expenses decreased to $14,060 thousand in Q3 2024 from $18,678 thousand in Q3 2023, reflecting a reduction of 25.5%[38] - General and administrative expenses for the nine months ended September 30, 2024, totaled $182,164 thousand, up 15.2% from $158,075 thousand in the same period of 2023[38] Assets and Equity - Book value per share increased by 22.8% to $22.82 compared to December 31, 2023[4] - Total invested assets and cash increased to $4.6 billion from $4.0 billion at the end of 2023[19] - Total shareholders' equity rose to $2.3 billion from $2.0 billion at the end of 2023[19] - Total assets increased to $7,826,547 thousand as of September 30, 2024, up from $6,671,355 thousand at December 31, 2023, representing a growth of approximately 17.3%[25] - Cash and cash equivalents rose to $957,372 thousand as of September 30, 2024, compared to $794,509 thousand at December 31, 2023, an increase of 20.6%[25] Catastrophe Losses - The company estimates losses from Hurricane Milton to be between $30 million and $70 million, which will impact Q4 2024 results[5] - Catastrophe losses totaled $38.5 million, primarily driven by Hurricane Helene, the Calgary hailstorms, and Hurricane Debby[15] Risks and Challenges - The company anticipates continued growth in its market position and profitability, although actual results may vary due to various risks and uncertainties[39] - The insurance and reinsurance business is historically cyclical, and pricing for products may decline, impacting profitability and premium growth[40] - Significant foreign operations expose the company to additional risks, including foreign currency and political risks[40] - The company faces potential challenges in accurately assessing underwriting risk and maintaining broker relationships, which could adversely affect operations[40] - The company is dependent on key executives and may face difficulties in attracting qualified personnel in competitive hiring conditions[41] - Future capital needs may arise, and there is a risk that capital may not be available on favorable terms[42] - The company may encounter operational failures or issues with information systems that could impact financial results[42]

Core Viewpoint - Hamilton Insurance is anticipated to report a year-over-year increase in earnings and revenues for the quarter ended September 2024, with earnings expected to be $0.69 per share, reflecting a +68.3% change, and revenues projected at $515.96 million, up 30.2% from the previous year [1][3]. Earnings Expectations - The upcoming earnings report is scheduled for November 6, and the stock may rise if the actual results exceed expectations, while a miss could lead to a decline [2]. - The consensus EPS estimate has been revised down by 4.65% over the last 30 days, indicating a reassessment by analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Hamilton Insurance aligns with the Zacks Consensus Estimate, resulting in an Earnings ESP of 0% [10]. - The stock currently holds a Zacks Rank of 4, suggesting a challenging outlook for beating the consensus EPS estimate [10][11]. Historical Performance - In the last reported quarter, Hamilton Insurance exceeded the expected earnings of $0.91 per share by delivering $1.20, resulting in a surprise of +31.87% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Industry Comparison - Assurant, another player in the Zacks Insurance - Multi line industry, is expected to post earnings of $2.64 per share for the same quarter, indicating a year-over-year decline of -38.5%, with revenues projected at $2.91 billion, up 4.2% [17]. - Assurant's consensus EPS estimate has been revised down by 28.8% in the last 30 days, leading to an Earnings ESP of -5.30% and a Zacks Rank of 3 [18].

The latest trading session saw Hamilton Insurance (HG) ending at $18.50, denoting a -1.28% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%. Coming into today, shares of the provider of insurance and reinsurance services had gained 1.35% in the past month. In that same time, the Finance sector lost 4.31%, while the S&P 500 gained 5.36%. The investment community will be ...

Company Overview - Hamilton Insurance closed at $18.75, with a daily increase of 0.7%, underperforming the S&P 500 which gained 0.9% [1] - Over the past month, Hamilton Insurance shares have decreased by 3.67%, while the Finance sector gained 0.34% and the S&P 500 increased by 3.15% [1] Upcoming Financial Results - Hamilton Insurance is set to announce its earnings on November 6, 2024, with an expected EPS of $0.74, reflecting an increase of 80.49% from the same quarter last year [2] - The Zacks Consensus Estimate projects net sales of $519.32 million, up 31.05% from the previous year [2] Full Year Projections - For the full year, earnings are projected at $4.21 per share and revenue at $2.33 billion, indicating increases of 72.54% and 48.24% respectively from the prior year [3] Analyst Estimates and Market Sentiment - Recent changes to analyst estimates for Hamilton Insurance indicate a positive outlook, suggesting analyst optimism regarding the company's business and profitability [3] - The Zacks Rank system, which assesses these estimate changes, currently rates Hamilton Insurance as 2 (Buy) [5] Valuation Metrics - Hamilton Insurance has a Forward P/E ratio of 4.42, which is a discount compared to the industry average Forward P/E of 10.39 [6] - The Insurance - Multi line industry is part of the Finance sector and holds a Zacks Industry Rank of 65, placing it in the top 26% of over 250 industries [6]

Hamilton Insurance (HG) closed the most recent trading day at $19.80, moving -0.25% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.13%. Meanwhile, the Dow experienced a rise of 0.33%, and the technology-dominated Nasdaq saw a decrease of 0.39%. Shares of the provider of insurance and reinsurance services have appreciated by 0.76% over the course of the past month, underperforming the Finance sector's gain of 1.5% and the S&P 500's gain of 2.43%. The upcom ...

Major U.S. stock indices witnessed a notable downfall on Sep 6, reflecting investors' disappointment surrounding U.S. job data as it failed to meet market expectations. Notably, the latest report from the U.S. Labor Department reflected a lower-than-expected increase in the nation's employment in the month of August. This might dissuade an investor from spending on shares. However, a prudent investor knows that such periods of low prices are perfect for buying stocks, allowing them to earn profit in times o ...

Financial Data and Key Metrics Changes - The company reported net income of $131 million for Q2 2024, equating to an annualized return on average equity of 23.6%, compared to $37 million and 8.5% in Q2 2023 [3][15] - The combined ratio improved to an all-time low of 84.4% from 89.5% in the same quarter last year [3][17] - Net investment income was strong at $95.7 million, significantly up from $22 million in Q2 2023 [3][23] Business Line Data and Key Metrics Changes - The International segment reported a combined ratio of 91% and a 12.2% growth in top line, while the Bermuda segment achieved a combined ratio of 77.4% with a 28.4% increase in top line [4][5][21] - Gross premiums written for the International segment grew to $632 million, a 20% increase year-over-year, while Bermuda gross premiums written rose to $693 million, a 34% increase [18][20] Market Data and Key Metrics Changes - The rate environment remains strong, particularly in property catastrophe and casualty reinsurance, with favorable pricing and terms expected to continue into 2025 [8][9] - The company noted approximately $60 billion of insured natural catastrophes in the first half of 2024, with severe convective storms being the largest contributor [4][5] Company Strategy and Development Direction - The company is focused on underwriting profitability and strategic growth, with a commitment to deploying IPO proceeds effectively and expanding core business lines [6][7] - The management emphasized the importance of maintaining strong relationships with clients and brokers to ensure a steady flow of attractive business opportunities [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating market cycles, citing a culture of execution and a strong balance sheet as key advantages [10][14] - The company anticipates continued favorable market conditions driven by macro factors such as climate change and inflation [11][12] Other Important Information - The company announced a new share repurchase authorization of $150 million, following a previous buyback transaction [24][25] - Total assets increased to $7.6 billion, up 13% from year-end 2023, with shareholders' equity rising to $2.2 billion, a 9% increase [25] Q&A Session Summary Question: Thoughts on the pace of buybacks with the new $150 million authorization - Management indicated that the buyback authorization reflects the company's ability to repurchase undervalued shares, with potential activity this quarter depending on market conditions [26][27] Question: Future leverage strategy post AM Best upgrade - Management confirmed the new Fitch rating allows for potential debt issuance, but the current focus remains on organic growth using available capital [28][29] Question: Casualty development on recent year vintages - Management reported no significant casualty development in the current quarter, with minor prior period development noted [31][32] Question: Growth trajectory for the International segment - Management expects the International segment to grow between 15% to 20% for the full year, following strong double-digit growth [37] Question: Comments on the lack of catastrophe losses in the quarter - Management attributed the absence of catastrophe losses to higher attachment points and strategic decisions to exit certain business lines [41][42]

Investor Presentation Hamilton Insurance Group, Ltd. June 30, 2024 Special Note Regarding Forward-Looking Statements This information includes "forward looking statements" pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of terms such as "believes," "expects," "may," "will," "target," "should," "could," "would," "seeks," "intends," "plans," "contemplates," "estimates," or "anticipates," or similar exp ...

Financial Performance - Total revenues for Q2 2024 were $587.94 million, compared to $357.24 million in Q2 2023, reflecting a 64.5% year-over-year growth[16]. - Net income for Q2 2024 was $200.38 million, significantly higher than $41.29 million in Q2 2023, marking a 385.5% increase[16]. - Basic income per share attributable to common shareholders for Q2 2024 was $1.24, compared to $0.35 in Q2 2023, representing a 254.3% increase[16]. - Net income for 2024 reached $477,714, a significant increase from $94,290 in 2023, representing a growth of approximately 406%[21]. - Net income attributable to common shareholders for Q2 2024 was $131.085 million, significantly higher than $36.787 million in Q2 2023, marking a 256.5% increase[89]. - For the six months ended June 30, 2024, net income attributable to common shareholders was $288.3 million, compared to $88.3 million in the same period of 2023, an increase of 226%[113]. Assets and Investments - Total assets increased to $7,623,103 thousand as of June 30, 2024, compared to $6,671,355 thousand at December 31, 2023, reflecting a growth of approximately 14.2%[14]. - Total investments rose to $3,456,154 thousand in Q2 2024, up from $3,111,616 thousand in Q4 2023, marking an increase of about 11.1%[14]. - Cash and cash equivalents increased to $1,016,573 thousand from $794,509 thousand, representing a growth of approximately 27.9%[14]. - The company’s investments in Two Sigma Funds had a fair value of $923,682 as of June 30, 2024, with unrealized gains of $212,446[40]. - Total fixed maturities amounted to $2,119,739 with gross unrealized losses of $55,791, resulting in a fair value of $2,068,930[36]. Premiums and Underwriting - Gross premiums written for Q2 2024 reached $603.3 million, a 19.5% increase from $504.96 million in Q2 2023[16]. - Net premiums written for the first half of 2024 totaled $989.95 million, up 35.1% from $733.21 million in the same period of 2023[16]. - The attritional loss ratio for the current year in Q2 2024 was 51.6%, slightly improved from 51.0% in Q2 2023[89]. - The combined ratio for Q2 2024 improved to 84.4% from 89.5% in Q2 2023, indicating better overall underwriting performance[89]. - Net premiums earned increased to $418.764 million in Q2 2024 from $331.460 million in Q2 2023, a growth of 26.3%[89]. Expenses and Losses - Total expenses for the first half of 2024 were $765.78 million, up from $580.81 million in the same period of 2023, indicating a 31.8% increase[16]. - Losses and loss adjustment expenses totaled $214.494 million in Q2 2024, compared to $179.416 million in Q2 2023, reflecting a 19.5% increase[89]. - The Company recorded net losses and loss adjustment expenses incurred of $446.8 million for the six months ended June 30, 2024, compared to $328.0 million for the same period in 2023, an increase of 36.1%[77]. Shareholder Equity and Stock Performance - Shareholders' equity increased to $2,238,547 thousand as of June 30, 2024, up from $2,047,850 thousand, representing an increase of about 9.3%[14]. - The total share capital decreased from $1,101 million as of December 31, 2023, to $1,019 million as of June 30, 2024[105]. - The company repurchased 9,124,729 Class A common shares at $12.00 per share, totaling $109.5 million[109]. - Basic earnings per share for the six months ended June 30, 2024, was $2.66, up from $0.85 in the same period of 2023, a growth of 213%[113]. Risks and Challenges - The company faces risks related to macroeconomic conditions, including inflation and geopolitical events, which could impact future performance[8]. - The company is dependent on key executives and may face challenges in attracting qualified personnel due to competitive hiring conditions[8]. - The company remains exposed to market risks including interest rate risk, credit spread risk, equity price risk, and foreign currency risk, with no material changes reported since the last disclosure[294]. Cash Flow and Financing - Net cash provided by operating activities increased to $314,638 in 2024 from $75,911 in 2023, marking a rise of about 314%[21]. - The company reported a net cash used in financing activities of $(225,301) in 2024, compared to $(8,252) in 2023, indicating a significant increase in cash outflow[21]. - As of June 30, 2024, the company had $995 million in available letter of credit and revolving loan facilities, with $731.472 million in use[103]. Investment Performance - The company reported net realized and unrealized gains on investments of $406.62 million for the first half of 2024, compared to $54.54 million in the same period of 2023[16]. - The total net investment income for the six months ended June 30, 2024, was $26,338, compared to $9,650 for the same period in 2023, reflecting improved performance[47]. - The company reported net foreign exchange losses of $1.782 million in Q2 2024, compared to losses of $3.341 million in Q2 2023, indicating an improvement in currency exposure[89].

The latest trading session saw Hamilton Insurance (HG) ending at $16.75, denoting a -0.77% adjustment from its last day's close. This change lagged the S&P 500's 0.71% loss on the day. Elsewhere, the Dow saw a downswing of 0.93%, while the tech-heavy Nasdaq depreciated by 0.81%. The the stock of provider of insurance and reinsurance services has risen by 5.24% in the past month, leading the Finance sector's loss of 2.01% and the S&P 500's gain of 1.08%. For the annual period, the Zacks Consensus Estimates a ...