Welcome to our dedicated page for Hamilton Insurance Group, Ltd. Class B Common Shares news (Ticker: HG), a resource for investors and traders seeking the latest updates and insights on Hamilton Insurance Group, Ltd. Class B Common Shares stock.
Hamilton Insurance Group, Ltd. (symbol: HG) is a leading specialty insurance and reinsurance company that operates on a global scale. With underwriting operations in key locations such as Lloyd's of London, Ireland, Bermuda, and the United States, Hamilton Insurance Group stands out by providing expert risk management and financial protection solutions. The company is structured into three principal underwriting platforms - Hamilton Global Specialty, Hamilton Select, and Hamilton Re - which fall under two key reporting segments: International and Bermuda.
Hamilton Global Specialty focuses on complex and unique risks, leveraging a wealth of industry expertise to offer tailored insurance products. Hamilton Select targets a broad range of specialty lines, providing comprehensive coverage and exceptional service to its clients. Hamilton Re, the reinsurance arm, supports global insurance companies with robust and reliable reinsurance solutions.
Recent achievements for Hamilton Insurance Group include strategic partnerships and innovative product launches that reinforce its position as a market leader. Financially, the company maintains a strong balance sheet, reflecting its prudent risk management and investment strategies. Notable current projects involve expansion into new markets and the integration of advanced analytics to enhance underwriting performance.
Hamilton Insurance Group, (NYSE: HG) reported strong financial results for the first quarter of 2024, with a net income of $157.2 million, marking the sixth consecutive quarter of underwriting profitability. The company saw significant growth in gross premiums written, net premiums earned, and underwriting income. The return on average equity was 29.5%, with an annualized gross premiums written increase of 34.1% compared to the same period in 2023. Hamilton's financial performance was bolstered by an AM Best ratings upgrade, enhancing market opportunities.
Hamilton Insurance Group, (NYSE: HG) announced that AM Best upgraded the Financial Strength Rating of its subsidiaries, Hamilton Re, and Hamilton Insurance DAC, to 'A' (Excellent) from 'A-' (Excellent). The Long-Term Issuer Credit Ratings also improved to 'a' (Excellent). AM Best highlighted Hamilton's strong balance sheet, adequate operating performance, and improving underwriting results over the past five years. The upgrade reflects the company's dedication to building a global specialty insurance and reinsurance company.
Hamilton Insurance Group, (NYSE: HG) announced the appointment of Athena Tolosa as Chief Financial Officer at Hamilton Re, replacing Chad Cundliffe. Tolosa will report to Hamilton Re Chief Executive Officer Megan Thomas and Group Chief Accounting Officer Brian Deegan. With an 18+ year career in the (re)insurance industry, Tolosa brings significant experience from roles at RenaissanceRe and Tokio Millenium Re. Her appointment is seen as a valuable addition to the finance team.
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