**Hamilton Insurance Group, Ltd. Reports Strong Financial Performance in 2025**
Hamilton Insurance Group, Ltd., a global specialty insurance and reinsurance company, reported gross premiums written of $2.9 billion for the year ended December 31, 2025, compared to $2.4 billion and $2.0 billion for 2024 and 2023, respectively. The company's combined ratio, a key measure of underwriting profitability, was 92.9% for 2025, compared to 91.3% and 90.1% for the prior two years. Net income attributable to common shareholders reached $576.7 million, a significant increase from $400.4 million in 2024 and $258.7 million in 2023. The company's return on average common shareholders' equity was 22.4% for 2025, up from 18.3% in 2024 and 13.9% in 2023.
The International segment, comprising Hamilton Global Specialty and Hamilton Select, contributed $1.5 billion in gross premiums written, with a combined ratio of 95.0%. This compares to $1.3 billion in gross premiums written and a 95.6% combined ratio in 2024. The Bermuda segment, consisting of Hamilton Re, generated $1.4 billion in gross premiums written and a combined ratio of 90.9%, compared to $1.1 billion in gross premiums written and an 87.0% combined ratio in 2024. The company's financial results were bolstered by net realized and unrealized gains on investments, which totaled $687.1 million in 2025, compared to $511.4 million in 2024 and $209.6 million in 2023.
A significant portion of Hamilton's investment strategy involves a unique relationship with Two Sigma, with $2.2 billion managed by Two Sigma through the TS Hamilton Fund. The TS Hamilton Fund produced returns, net of investment management fees and performance incentive allocations, of 16.0% in 2025, 16.3% in 2024, and 7.6% in 2023. The company's total cash and invested assets stood at $6.2 billion as of December 31, 2025, including $3.4 billion in fixed maturity trading portfolio and short-term investments with an average credit rating of Aa3.
Strategic developments included the company's initial public offering (IPO) in November 2023 and an AM Best "A" rating upgrade in April 2024. Effective January 1, 2026, the company will have oversight by a new Group Chief Underwriting Officer (CUO). The company also declared a special one-time cash dividend of $2.00 per common share payable on March 30, 2026, to shareholders of record on March 6, 2026. The company's proprietary technology, including the Hamilton Analytics and Risk Platform (HARP) and Timeflow, continues to support underwriting excellence and operational efficiency.
Looking ahead, Hamilton Insurance Group intends to continue its strategy of prudently managing capital, driving sustainable underwriting profitability, and pursuing disciplined growth across its underwriting platforms. The company believes that current market conditions provide attractive opportunities for its insurance and reinsurance businesses, and it remains focused on generating strong risk-adjusted returns for shareholders. The company's sustainability approach is based on being a responsible corporate and global citizen, with a four-pillar philosophy encompassing accountability, social impact, underwriting, and investments.
About Hamilton Insurance Group, Ltd.
Hamilton Insurance Group, Ltd. is a Bermuda-based global specialty insurer and reinsurer offering property, casualty, and specialty lines. Its core segments include international operations via Lloyd’s and Irish subsidiaries, and Bermuda reinsurance platforms. The company focuses on niche markets such as U.S. E&S, specialty reinsurance, and complex risks, leveraging proprietary technology, diversified risk appetite, and a strong balance sheet to deliver sustainable growth and profitability.
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