Hamilton Insurance Group Ltd
For the period ended Sep 30, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 7, 2024
HG$38.82+3.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2024 and 2023
| Nine Months Ended | ||
|---|---|---|
| ($ in thousands) | September 30,2024 | September 30,2023 |
| Operating activities | ||
| Net income (loss) | $538,749 | $146,938 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 13,081 | 8,990 |
| Share compensation expense | 22,264 | 10,095 |
| Net realized (gains) losses on investments | (382,646) | (32,363) |
| Change in net unrealized (gains) losses on investments | (72,205) | (69,518) |
| Other items | (11,786) | 1,330 |
| Change in: | ||
| Premiums receivable | (227,381) | (166,372) |
| Paid losses recoverable | (806) | (47,659) |
| Deferred acquisition costs | (49,058) | (36,167) |
| Prepaid reinsurance | (65,868) | (67,898) |
| Unpaid losses and loss adjustment expenses recoverable | (29,388) | 20,740 |
| Other assets | 17,111 | 3,253 |
| Reserve for losses and loss adjustment expenses | 404,763 | 92,547 |
| Unearned premiums | 280,849 | 233,408 |
| Reinsurance balances payable | 62,201 | 123,634 |
| Accounts payable and accrued expenses and other | (24,667) | 26,711 |
| Net cash provided by (used in) operating activities | 475,213 | 247,669 |
| Investing activities | ||
| Proceeds from redemptions from Two Sigma Funds | 2,129,185 | 1,821,046 |
| Contributions to Two Sigma Funds | (1,836,664) | (1,954,119) |
| Purchases of fixed maturity investments | (1,466,805) | (809,646) |
| Proceeds from sales, redemptions and maturity of fixed maturity investments | 1,032,664 | 418,677 |
| Purchases of short-term investments | (1,335,003) | (1,078,631) |
| Proceeds from sales of short-term investments | 1,288,278 | 1,032,091 |
| Change in receivables for investments sold | 3,340 | (18,673) |
| Change in payables for investments purchased | 106,299 | 69,741 |
| Other | (16,570) | (11,425) |
| Net cash provided by (used in) investing activities | (95,276) | (530,939) |
| Financing activities | ||
| Issuance of common shares | 11 | 8 |
| Repurchases of common shares | (123,394) | (2,247) |
| Contribution of additional paid-in capital | 386 | (8) |
| Withdrawal of non-controlling interest | (112,313) | (15,066) |
| Net cash provided by (used in) financing activities | (235,310) | (17,313) |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents | 5,768 | (3,093) |
| Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents | 150,395 | (303,676) |
| Cash and cash equivalents and restricted cash and cash equivalents, beginning of period | 900,860 | 1,207,203 |
| Cash and cash equivalents and restricted cash and cash equivalents, end of period | $1,051,255 | $903,527 |
See accompanying notes to theunaudited condensed consolidated financial statements.
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