Hamilton Insurance Group Reports 16.7% Revenue Growth in Q1 2025

Hamilton Insurance Group, Ltd. reported its financial results for the first quarter of 2025, revealing a total revenue of $768.8 million, a 16.7% increase from $658.6 million in the same period last year. The growth was primarily driven by a rise in net premiums earned, which reached $498.9 million, up from $385.3 million in the prior year. However, the company experienced a decline in net income, reporting $181.3 million compared to $277.3 million in the first quarter of 2024. This resulted in a diluted earnings per share of $0.77, down from $1.38 a year earlier.

The company's gross premiums written increased significantly to $843.3 million, a 15% rise from $721.9 million in the previous year. This growth was attributed to strong performance in casualty and property reinsurance classes, although there was a noted decrease in specialty reinsurance. The combined ratio, a key measure of underwriting profitability, deteriorated to 111.6% from 91.5% in the prior year, primarily due to an increase in catastrophe losses, particularly related to the California wildfires.

In terms of strategic developments, Hamilton Insurance Group has continued to expand its investment in the Two Sigma Hamilton Fund, with total investments in the fund increasing to $1.34 billion as of March 31, 2025, up from $939.4 million at the end of 2024. The company also reported a total asset value of $8.34 billion, reflecting a 7% increase from $7.80 billion at the end of the previous fiscal year. The firm’s employee headcount has grown to over 600, supporting its expanding operations across various geographic markets, including the U.S., Bermuda, London, and Dublin.

The filing also highlighted the company's proactive approach to managing its capital and liquidity. As of March 31, 2025, Hamilton Insurance Group had total cash and cash equivalents of $913.1 million, down from $1.1 billion at the end of 2024. The company remains committed to maintaining a strong balance sheet and has sufficient liquidity to meet its operational needs, with a focus on optimizing its investment portfolio in response to market conditions. Looking ahead, Hamilton Insurance Group anticipates continued growth opportunities in both the insurance and reinsurance markets, driven by favorable market conditions and its strategic initiatives.