Hamilton Insurance Group, Ltd. Class B (HG) AI Stock Analysis

• Market Cap: $2.33B
• Dividend Yield: N/A
• Average Volume (3M): 481.77K
• Price to Earnings (P/E): 6.2
• Beta (1Y): 0.23
• Revenue Growth: 28.86%
• EPS Growth: -11.22%
• Country: US
• Employees: 600
• Sector: Financial
• Sector Strength: 71
• Industry: Insurance - Reinsurance
• EPS (TTM): 1.55
• Shares Outstanding: 65,606,760
• 10 Day Avg. Volume: 620,479
• 30 Day Avg. Volume: 481,775
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 1.11
• Enterprise Value/Gross Profit: 0.89
• Enterprise Value/Ebitda: 3.76
• 1Y Price Target: $25.43
• Price Target Upside: 8.40% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7

• Rating: 82 Outperform
• Price Target: $28.00 ▲(19.35% Upside)

Hamilton Insurance Group's strong financial performance, attractive valuation, and positive earnings call sentiment are the primary drivers of its high stock score. The bullish technical indicators further support the positive outlook, although caution is advised due to potential overbought conditions. The company's strategic initiatives and leadership changes reinforce its robust position in the industry.

Positive Factors

Book Value Growth

Hamilton continues to grow book value through a combination of accretive share repurchases below book value and superior investment returns.

Investment Performance

HG's investment portfolio returns have materially outperformed most peers with a higher-than-peer average allocation to Two Sigma.

Negative Factors

Pricing Power

The competitive pricing-power environment within the large-account marketplace where HG has a meaningful presence continues to show signs of soft pricing power pressures.

Profit Margins

Deteriorating profit margins as pricing turns negative in HG's sectors are driving downwards EPS revisions.

Valuation Concerns

There is no longer as much confidence in valuation multiple expansion in the face of continued soft pricing-power pressures in lines of insurance affecting more than 50% of HG’s premium volumes.

Hamilton Insurance Group, Ltd. Class B Business Overview & Revenue Model

Company Description

Hamilton Insurance Group, Ltd. Class B (HG) is a global specialty insurance and reinsurance provider headquartered in Bermuda. The company operates in various sectors, including property and casualty, specialty insurance, and reinsurance markets. Hamilton Insurance Group offers a range of products and services designed to meet the diverse needs of its clients, focusing on risk management solutions and leveraging data analytics to enhance underwriting capabilities.

How the Company Makes Money

Hamilton Insurance Group makes money primarily through the collection of premiums from its insurance and reinsurance products. The company earns revenue by underwriting policies for property and casualty insurance, as well as offering specialty insurance products tailored to specific industries or risks. Additionally, Hamilton generates income by investing the premiums it collects in a diversified investment portfolio. Key revenue streams include direct insurance premiums, reinsurance premiums, and returns on investment. Hamilton may also engage in significant partnerships with other insurance entities to expand its market reach and product offerings, contributing to its overall earnings.

Hamilton Insurance Group, Ltd. Class B Financial Statement Overview

Summary

Hamilton Insurance Group demonstrates robust financial performance with strong revenue growth, improved profitability margins, low leverage, and effective cash flow management. The company is financially well-positioned in the insurance reinsurance industry.

Income Statement

Hamilton Insurance Group shows a strong financial performance with a consistent increase in total revenue over the years, with a notable growth of 26.91% from 2024 to the TTM period. The company maintains a robust gross profit margin of 71.54% in the TTM, showcasing effective cost management. The net profit margin improved significantly to 21.28% in the TTM, indicating enhanced profitability. The EBIT and EBITDA margins also reflect strong operational efficiency.

Balance Sheet

The balance sheet of Hamilton Insurance Group indicates solid financial health with a low debt-to-equity ratio of 0.06, highlighting minimal leverage risk. The return on equity stands at 17.69% in the TTM, evidencing effective use of shareholder capital. The equity ratio is stable at 28.76%, suggesting a balanced asset structure. Overall, the balance sheet reflects stability and low financial risk.

Cash Flow

The cash flow analysis reveals a strong free cash flow position with no capital expenditure, suggesting prudent financial management. The operating cash flow to net income ratio is healthy at 1.50 in the TTM, indicating efficient cash generation relative to net income. However, the free cash flow growth rate shows a decline from the previous year, which may need attention. Overall, the cash flow situation is solid but could benefit from enhanced growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.14B	2.33B	1.57B	1.23B	768.17M
Gross Profit	2.69B	2.31B	1.56B	1.23B	768.17M
EBITDA	634.57M	660.64M	289.06M	3.90M	-110.93M
Net Income	380.46M	400.43M	258.73M	-98.00M	-430.64M
Balance Sheet
Total Assets	8.91B	7.80B	6.67B	5.82B	5.61B
Cash, Cash Equivalents and Short-Term Investments	1.07B	1.49B	1.22B	1.08B	1.44B
Total Debt	149.69M	149.94M	149.83M	149.72M	149.88M
Total Liabilities	6.29B	5.47B	4.62B	4.15B	3.82B
Stockholders Equity	2.56B	2.33B	2.05B	1.66B	1.79B
Cash Flow
Free Cash Flow	697.98M	759.30M	283.15M	190.93M	-560.42M
Operating Cash Flow	697.98M	759.30M	283.15M	190.93M	-406.96M
Investing Cash Flow	-454.89M	-184.16M	-652.09M	133.10M	137.82M
Financing Cash Flow	-301.19M	-362.69M	59.02M	-69.62M	-68.00M

Hamilton Insurance Group, Ltd. Class B Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 23.46
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HG, the sentiment is Positive. The current price of 23.46 is above the 20-day moving average (MA) of 22.78, above the 50-day MA of 21.84, and above the 200-day MA of 20.06, indicating a bullish trend. The MACD of 0.61 indicates Negative momentum. The RSI at 57.16 is Neutral, neither overbought nor oversold. The STOCH value of 48.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HG.

Hamilton Insurance Group, Ltd. Class B Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RNR	84 Outperform	$11.55B	6.32	18.75%	0.65%	23.19%	-22.42%
HG	82 Outperform	$2.33B	6.22	15.86%	―	28.86%	-11.22%
RGA	73 Outperform	$12.63B	16.84	7.07%	1.88%	1.53%	-10.27%
Sector *	68 Neutral	$17.69B	11.82	10.30%	3.73%	9.66%	0.42%
FIHL	66 Neutral	$1.80B	17.57	-1.83%	2.37%	20.42%	-110.82%
SPNT	65 Neutral	$2.15B	20.51	4.82%	―	-4.56%	-55.48%
GLRE	63 Neutral	$439.79M	11.74	5.82%	―	2.18%	-41.11%

Hamilton Insurance Group, Ltd. Class B Corporate Events

Hamilton Insurance Appoints New Chief Risk Officer

On August 6, 2025, Hamilton Insurance Group announced the appointment of Russell J. Buckley as the new Group Chief Risk Officer. Buckley, who brings over 30 years of experience in the insurance industry, will succeed Alex Baker, who is set to become CEO of Hamilton Global Specialty. This leadership change is expected to strengthen Hamilton’s risk and actuarial functions, aligning with the company’s strategic goals and enhancing its industry positioning.

Hamilton Insurance Appoints New Chief Information Officer

On July 17, 2025, Hamilton Insurance Group, Ltd. announced the appointment of Raymond Karrenbauer as the new Chief Information Officer, effective September 15, 2025. Karrenbauer, who brings extensive experience in technology and the insurance industry, will succeed Venkat Krishnamoorthy, who is retiring after significant contributions to the company since 2019. This leadership change is expected to enhance Hamilton’s technological capabilities and continue delivering value to stakeholders.

Hamilton Insurance Announces Leadership Changes Effective September

On June 17, 2025, Hamilton Insurance Group, Ltd. announced significant leadership changes effective September 1, 2025. Megan Graves, CEO of Hamilton Re, will retire by the end of the year, and Adrian Daws will succeed her, with Alex Baker taking over Daws’ previous role as CEO of Hamilton Global Specialty. Tim Duffin will become Group Chief Underwriting Officer starting January 1, 2026. These appointments highlight Hamilton’s strategy to leverage internal talent to maintain its growth and success in the global specialty insurance and reinsurance market.

Hamilton Insurance Secures New Credit Agreements

On June 10, 2025, Hamilton Insurance Group, Ltd. entered into a $450 million Sixth Amended and Restated Credit Agreement and a $150 million Amended and Restated Term Loan Credit Agreement with several financial institutions. These agreements, which replace previous credit and term loan agreements, are intended to provide the company with enhanced financial flexibility for working capital, general corporate purposes, and refinancing existing indebtedness. The new agreements include financial covenants and interest rates tied to the company’s long-term issuer default rating, reflecting a strategic move to strengthen its financial position and support its operational needs.