Hamilton Insurance Group Ltd - Class B

Hamilton Insurance Group, Ltd. (NYSE: HG) is a specialty insurance and reinsurance company that underwrites risks globally through wholly owned subsidiaries. It reports two segments.

- **International:** Hamilton Global Specialty, comprising Lloyd's Syndicate 4000 and Hamilton Insurance DAC in Ireland, plus HMGA Americas and Hamilton Select. Hamilton Select is a U.S. wholesale-only carrier for small to mid-size property and casualty risks. The segment is roughly 88% insurance by 2025 gross premiums.
- **Bermuda:** Hamilton Re, which writes mainly property, casualty and specialty reinsurance from Bermuda and the U.S. The segment is roughly 91% reinsurance.

In 2025 the company wrote $2.9 billion of gross premiums, split about evenly between insurance and reinsurance. By class, the mix was 48% casualty, 28% specialty and 24% property.

Other income comes from third-party capital management through Ada Capital Management Limited and from management services to Lloyd's consortia and syndicates.

Its roughly $6.4 billion of cash and invested assets is split between two pools:
- an investment-grade fixed income portfolio of about $3.9 billion including short-term and cash;
- the Two Sigma Hamilton Fund, a dedicated fund of about $2.5 billion managed by Two Sigma under an investment management agreement.

Operating subsidiaries carry A (Stable) ratings from AM Best and KBRA and A- (Stable) from Fitch. The company has a multi-class share structure (Class A, B and C). Updated Oct 29, 2026