Hamilton Insurance Group, Ltd.
For the period ended Jun 30, 2026. Filed Aug 7, 2026.
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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.
Jun 30, 2026 · Filed Aug 7, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Results of Operations - Year to Date
Consolidated Results of Operations
The following is a comparison of selected data for our consolidated results of operations:
| For the Six Months Ended | ||
|---|---|---|
| June 30, | ||
| ($ in thousands, except per share amounts) | 2026 | 2025 |
| Gross premiums written | $1,771,152 | $1,555,332 |
| Net premiums written | $1,275,355 | $1,160,189 |
| Net premiums earned | $1,156,522 | $1,010,091 |
| Third party fee income(1) | 10,655 | 9,676 |
| Claims and Expenses | ||
| Losses and loss adjustment expenses | 686,274 | 665,163 |
| Acquisition costs | 289,929 | 239,696 |
| Other underwriting expenses(2) | 104,279 | 105,709 |
| Underwriting income (loss)(3) | 86,695 | 9,199 |
| Net realized and unrealized gains (losses) on investments | 378,933 | 456,828 |
| Net investment income (loss)(4) | 50,469 | 39,994 |
| Total net realized and unrealized gains (losses) on investments and net investment income (loss) | 429,402 | 496,822 |
| Net foreign exchange gains (losses) | 1,905 | (7,039) |
| Corporate expenses(2) | 24,116 | 25,821 |
| Amortization of intangible assets | 7,720 | 7,895 |
| Interest expense | 9,538 | 10,331 |
| Income tax expense (benefit) | 4,793 | 5,882 |
| Net income (loss) | 471,835 | 449,053 |
| Net income (loss) attributable to non-controlling interest(5) | 194,515 | 180,765 |
| Net income (loss) attributable to common shareholders | $277,320 | $268,288 |
| Diluted income (loss) per share attributable to common shareholders | $2.73 | $2.56 |
| Key Ratios | ||
| Attritional loss ratio - current year | 53.9% | 52.5% |
| Attritional loss ratio - prior year development | 1.1% | (1.7)% |
| Catastrophe loss ratio - current year | 4.0% | 16.8% |
| Catastrophe loss ratio - prior year development | 0.3% | (1.7)% |
| Loss and loss adjustment expense ratio | 59.3% | 65.9% |
| Acquisition cost ratio | 25.1% | 23.7% |
| Other underwriting expense ratio | 8.1% | 9.5% |
| Combined ratio | 92.5% | 99.1% |
| Return on average common shareholders' equity | 9.8% | 11.0% |
The following table summarizes book value per share and balance sheet data:
| ($ in thousands, except per share amounts) | As at | |
|---|---|---|
| Book Value | June 30,2026 | December 31,2025 |
| Tangible book value per common share | $28.07 | $27.62 |
| Accumulated dividends | $2.00 | $— |
| Tangible book value per common share plus accumulated dividends | $30.07 | $27.62 |
| Change in tangible book value per common share plus accumulated dividends | 8.9% | |
| Book value per common share | $28.91 | $28.50 |
| Accumulated dividends | $2.00 | $— |
| Book value per common share plus accumulated dividends | $30.91 | $28.50 |
| Change in book value per common share plus accumulated dividends | 8.5% | |
| Balance Sheet Data | ||
| Total assets | $10,263,899 | $9,571,613 |
| Total shareholders' equity | $2,850,836 | $2,822,099 |
(1) Third party fee income is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. Refer to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Measures' for further details.
(2) Other underwriting expenses is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. The reconciliation to general and administrative expenses, the most directly comparable GAAP financial measure, also included corporate expenses of $24.1 million and $25.8 million for the six months ended June 30, 2026 and 2025, respectively. Refer to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Measures' for further details.
(3) Underwriting income (loss) is a non-GAAP financial measure as defined in Item 10(e) of SEC Regulation S-K. Refer to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Measures' for further details.
(4) Net investment income (loss) is presented net of investment management fees.
(5) Refer to 'Management’s Discussion and Analysis of Financial Condition and Results of Operations—Consolidated Results of Operations—Corporate and Other' for further details.
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