Hamilton Insurance (US:HG)2025-11-05 14:00Financial Performance - Hamilton's Gross Premiums Written (GPW) reached $2.4 billion in FY 2024 [12], and $2.3 billion for the first nine months of 2025 [12] - The company's underwriting income was $149 million in FY 2024 [12], but decreased to $73 million for the first nine months of 2025 [12] - Hamilton's combined ratio was 91.3% in FY 2024 [12], but increased to 95.2% for the first nine months of 2025 [12] - Net income was $400 million in FY 2024 [12], and $405 million for the first nine months of 2025 [12] - As of September 30, 2025, Hamilton had $5.7 billion in cash and invested assets [12], and $2.7 billion in shareholders' equity [12] Business Segments - In 2024, the International segment's GPW was $1.3 billion [29], with Hamilton Select contributing $117 million, or 9% [29] - The International segment's business mix in 2024 consisted of 43% Specialty, 42% Casualty, and 15% Property [29] - The Bermuda segment's GPW was $1.1 billion in 2024 [42] - The Bermuda segment's business mix in 2024 consisted of 47% Casualty, 38% Property, and 15% Specialty [42] Investment Strategy - As of September 30, 2025, Hamilton's investment portfolio totaled $5.7 billion [52] - 62.6% or $3.6 billion of the investment portfolio was allocated to Fixed Income, Short-Term and Cash [53] - 37.4% or $2.1 billion of the investment portfolio was allocated to the Two Sigma Hamilton Fund (TSHF) [53] - The fixed income portfolio, valued at $3.0 billion, had an average rating of Aa3 and a duration of 3.3 years [54]