Hamilton Insurance Group, Ltd. (NYSE: HG)

Hamilton Insurance Group, Ltd. is a global specialty insurance and reinsurance company founded in Bermuda in 2013. The company operates through underwriting platforms in London, Dublin, Bermuda, and across the United States. It generates revenue by writing specialty and casualty insurance and reinsurance policies for commercial clients worldwide, supported by proprietary technology and a unique investment management relationship with Two Sigma. The company focuses on creating shareholder value through disciplined underwriting, balanced capital management, and sustainable profitability across market cycles.

Hamilton Insurance Group, Ltd. generates revenue primarily through gross premiums written from its insurance and reinsurance underwriting activities. The company earns premiums by providing coverage across property, casualty, and specialty lines, including excess of loss and proportional reinsurance treaties, as well as direct insurance products. Revenue is derived from policyholders, cedants, and distribution partners who purchase these risk transfer solutions, with premium levels influenced by market conditions, risk selection, and underwriting discipline.

The company operates through the following segments: International and Bermuda.

• International: This segment consists of business written out of the Lloyd’s syndicate and subsidiaries based in the United Kingdom, Ireland, and the United States, and includes the Hamilton Global Specialty and Hamilton Select underwriting platforms. Hamilton Global Specialty focuses on commercial specialty and casualty insurance for medium to large-sized accounts and specialty reinsurance products. Hamilton Select is a U. S. domestic excess and surplus carrier that writes casualty insurance for small to mid-sized clients in the hard-to-place niche of the U. S. excess and surplus market. For the year ended December 31, 2025, the International segment accounted for 52% of gross premiums written, with $1.5 billion in premiums and a combined ratio of 95.0%.

• Bermuda: This segment consists of the Hamilton Re platform, comprising Hamilton Re and Hamilton Re US. Hamilton Re writes property, casualty, and specialty reinsurance on a global basis and offers high excess Bermuda market specialty insurance products for large U. S. commercial risks. Hamilton Re US writes casualty and specialty reinsurance globally. For the year ended December 31, 2025, the Bermuda segment accounted for 48% of gross premiums written, with $1.4 billion in premiums and a combined ratio of 90.9%.

Hamilton Insurance Group, Ltd. holds a strong position in the global specialty insurance and reinsurance industry, competing with established players such as Arch Capital Group Ltd, AXIS Capital Holdings Limited, Beazley plc, Everest Group Ltd, Hiscox Ltd, Lancashire Holdings Limited, Markel Group Inc, RenaissanceRe Holdings Ltd, RLI Corp, and W. R. Berkley Corporation. The company differentiates itself through its scaled and diversified underwriting platforms, disciplined data-driven underwriting approach, proprietary technology infrastructure including the Hamilton Analytics and Risk Platform (HARP) and Timeflow, and its unique investment management relationship with Two Sigma via the TS Hamilton Fund, which provides low-correlated absolute returns and enhances overall portfolio performance.

The company serves a global customer base that includes commercial insurers, reinsurers, brokers, managing general agents, cedants, and large U. S.-based commercial clients. Key distribution partners include Marsh McLennan, Aon, and Arthur J Gallagher, which collectively account for a significant portion of broker-sourced premiums. Hamilton Insurance Group, Ltd. also works with financial institutions, energy companies, healthcare providers, and other corporate entities seeking specialty and casualty risk solutions across multiple lines of business.