Hamilton Insurance Group, Ltd.

Investment Philosophy

The Company maintains two segregated investment portfolios: a fixed maturities and short-term investments trading portfolio and an investment in TS Hamilton Fund.

Our high quality and liquid fixed maturities and short-term investments trading portfolio is structured to focus primarily on the preservation of capital and the availability of liquidity to meet the Company’s claims obligations, to be well diversified across market sectors, and to generate relatively attractive returns on a risk-adjusted basis over time. Our investments are subject to market-wide risks and fluctuations, as well as to risks inherent in particular securities.

The Company also invests in TS Hamilton Fund, a Delaware limited liability company. Hamilton Re has agreed to use its reasonable best efforts to maintain an investment in TS Hamilton Fund in an amount not less than the lesser of (i) $1.8 billion or (ii) 60% of Hamilton Group’s net tangible assets (the "Minimum Commitment Amount"). Hamilton Re has the ability to withdraw capital from the TS Hamilton Fund under a two‑tier structure that distinguishes between amounts in excess of the Minimum Commitment Amount ("Sub‑Series A Interests") and amounts at or below that level ("Sub‑Series B Interests"). Hamilton Re may withdraw Sub‑Series A Interests on a quarterly basis with at least 55 days’ prior notice, and may withdraw Sub‑Series B Interests on a monthly basis, subject to a six‑month notice requirement and monthly limits, including a cap of one-twelfth of such interests per month.

The TS Hamilton Fund investment strategy is focused on delivering non-market correlated investment income and total return through all market cycles while maintaining appropriate portfolio liquidity and credit quality to meet the requirements of customers, rating agencies and regulators. Two Sigma, the investment manager of the TS Hamilton Fund, is an investment adviser registered with the U.S. Securities and Exchange Commission specializing in quantitative analysis.