Hamilton Insurance Group Ltd
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 7, 2024
HG$38.82+3.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Financial Information of Registrant
CONDENSED FINANCIAL INFORMATION OF REGISTRANT(1)
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
| ($ in thousands) | December 31, 2023 | December 31, 2022 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $24,898 | $10,608 |
| Investment in subsidiaries | 2,077,926 | 1,693,442 |
| Intercompany loan receivable | 113,423 | 106,500 |
| Interest receivable on intercompany loan | 5,555 | 5,181 |
| Other assets | 4,821 | 4,676 |
| Total assets | $2,226,623 | $1,820,407 |
| Liabilities and Shareholders' Equity | ||
| Liabilities | ||
| Due to subsidiaries | $25,201 | $6,509 |
| Term loan payable | 149,830 | 149,715 |
| Accounts payable and accrued liabilities | 3,742 | — |
| Total liabilities | 178,773 | 156,224 |
| Shareholders' Equity | ||
| Common shares | ||
| Class A | 286 | 305 |
| Class B | 560 | 420 |
| Class C | 255 | 305 |
| Additional paid-in capital | 1,249,817 | 1,120,242 |
| Accumulated other comprehensive loss | (4,441) | (4,441) |
| Retained earnings | 801,373 | 547,352 |
| Total shareholders' equity | 2,047,850 | 1,664,183 |
| Total liabilities and shareholders' equity | $2,226,623 | $1,820,407 |
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED(1)
CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
| Years Ended · Month Ended · Year Ended | ||||
|---|---|---|---|---|
| ($ in thousands) | December 31, 2023 | December 31, 2022 | December 2021 | November 30, 2021 |
| Revenues | ||||
| Intercompany loan interest | $7,296 | $6,784 | $552 | $6,526 |
| Net foreign exchange gains (losses) | 24 | (131) | 17 | 20 |
| Other income (loss) | 626 | 65 | (7) | (66) |
| Total revenues | 7,946 | 6,718 | 562 | 6,480 |
| Expenses | ||||
| General and administrative expenses | 52,280 | 20,524 | 1,475 | 21,743 |
| Interest expense | 15,500 | 9,858 | 580 | 8,315 |
| Total expenses | 67,780 | 30,382 | 2,055 | 30,058 |
| Net income (loss) before equity in earnings of subsidiaries | (59,834) | (23,664) | (1,493) | (23,578) |
| Equity in earnings of subsidiaries | 274,538 | (211,335) | (34,394) | 181,757 |
| Dividend income | 44,023 | 137,000 | — | 30,000 |
| Net income (loss) attributable to common shareholders | $258,727 | $(97,999) | $(35,887) | $188,179 |
CONDENSED FINANCIAL INFORMATION OF REGISTRANT – CONTINUED(1)
CONDENSED STATEMENTS OF CASH FLOWS
| Years Ended · Month Ended · Year Ended | ||||
|---|---|---|---|---|
| ($ in thousands) | December 31, 2023 | December 31, 2022 | December 31, 2021 | November 30, 2021 |
| Cash flows provided by (used in) operating activities | ||||
| Net income (loss) attributable to common shareholders | $258,727 | $(97,999) | $(35,887) | $188,179 |
| Less: dividend income and equity in earnings of subsidiaries | (318,561) | 74,335 | 34,394 | (211,757) |
| Net income (loss) before equity in earnings of subsidiaries | (59,834) | (23,664) | (1,493) | (23,578) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | ||||
| Net realized and unrealized (gains) losses on investments | — | — | — | — |
| Other operating inflows (outflows) | 63,035 | 7,033 | 1,509 | (9,294) |
| Net cash provided by (used) in operating activities | 3,201 | (16,631) | 16 | (32,872) |
| Cash flows provided by (used in) investing activities | ||||
| Other investing inflows (outflows) | (146) | (706) | — | (1,371) |
| Dividends from subsidiaries | 44,023 | 137,000 | — | 30,000 |
| Capital contributions to subsidiaries | (113,350) | (118,839) | — | (6,673) |
| Net cash provided by (used in) investing activities | (69,473) | 17,455 | — | 21,956 |
| Cash flows provided by (used in) financing activities | ||||
| Other financing inflows (outflows) | — | (345) | — | — |
| Repurchase of common shares | (2,435) | (1,518) | — | (7,380) |
| Issuance of common shares | 82,997 | 315 | — | 1,012 |
| Net cash provided by (used in) financing activities | 80,562 | (1,548) | — | (6,368) |
| Net increase (decrease) in cash and cash equivalents | 14,290 | (724) | 16 | (17,284) |
| Cash and cash equivalents, beginning of period | 10,608 | 11,332 | 11,316 | 28,600 |
| Cash and cash equivalents, end of period | $24,898 | $10,608 | $11,332 | $11,316 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.