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Midas Edge

Hamilton Insurance Group Ltd

For the period ended Dec 31, 2023. Filed Mar 7, 2024.

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About 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 exhibits
Contents

Item 8. Consolidated Statements of Cash Flows

Years Ended · Month Ended · Year Ended
December 31, · December 31, · November 30,
($ in thousands)2023202220212021
Operating activities
Net income (loss)$280,287$(29,935)$(35,890)$249,839
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization12,41014,99496113,898
Share compensation expense44,37810,7841,0438,883
Net realized (gains) losses on investments(84,302)(251,662)(11,302)(278,691)
Change in net unrealized (gains) losses on investments(125,097)165,30544,828(73,502)
Impairment of goodwill—24,082—936
Net gain on sale of equity method investment(211)(6,991)—(54,557)
Other items(6,529)12,494(110)7,103
Change in:
Premiums receivable(135,693)(60,397)8,723(13,394)
Paid losses recoverable(54,547)(11,408)(3,170)(47,976)
Deferred acquisition costs(41,748)(16,323)(2,739)(40,735)
Prepaid reinsurance(29,993)(11,764)(603)8,593
Unpaid losses and loss adjustment expenses recoverable16,786(65,320)5,730(42,210)
Other assets(42,669)(41,894)(21,457)(14,855)
Reserve for losses and loss adjustment expenses173,762440,78436,464324,399
Unearned premiums193,03496,733461141,465
Reinsurance balances payable27,990(42,476)(27,483)(23,813)
Accounts payable and accrued expenses and other55,297(36,079)(29,369)61,146
Net cash provided by (used in) operating activities283,155190,927(33,913)226,529
Investing activities
Proceeds from redemptions from Two Sigma Funds2,591,7052,592,289184,4802,113,989
Contributions to Two Sigma Funds(2,554,888)(2,464,902)(137,453)(1,870,057)
Net proceeds from sale of equity method investment———57,428
Purchases of fixed maturity investments(1,221,576)(705,144)(54,445)(655,693)
Proceeds from sales, redemptions and maturity of fixed maturity investments688,978420,70251,370347,418
Purchases of short-term investments(1,506,241)(1,551,834)(357,857)(2,035,529)
Proceeds from sales of short-term investments1,389,4091,843,007413,0542,163,920
Change in receivables for investments sold(42,048)(345)58,41220,178
Change in payables for investments purchased18,51112,920(114,041)11,814
Other(15,938)(13,591)(432)(15,644)
Net cash provided by (used in) investing activities(652,088)133,10243,088137,824
Financing activities
Issuance of common shares737—5
Repurchases of common shares and options(2,435)(1,518)—(7,380)
Contribution of additional paid-in capital82,924308—1,008
Term loan, net of issuance costs—(345)——
Withdrawal of non-controlling interest(21,546)(68,069)(23)(61,629)
Net cash provided by (used in) financing activities59,016(69,617)(23)(67,996)
Effect of exchange rate changes on cash and cash equivalents3,574(11,335)46(1,508)
Net increase (decrease) in cash and cash equivalents(306,343)243,0779,198294,849
Cash and cash equivalents and restricted cash and cash equivalents, beginning of period1,207,203964,126954,928660,079
Cash and cash equivalents and restricted cash and cash equivalents, end of period$900,860$1,207,203$964,126$954,928
Net income taxes paid$4,211$9,971$170$12,344
Interest paid$21,608$15,655$475$11,803
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.