Hamilton Insurance Group, Ltd. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Hamilton Insurance Group, Ltd. filed its Q1 2024 10-Q, detailing financial positions and investment holdings.</b>

AI Summary

Hamilton Insurance Group, Ltd. (HG) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. Hamilton Insurance Group, Ltd. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024, with a fiscal year end of December 31. Key financial data points such as common stock, additional paid-in capital, and retained earnings are detailed for various periods. Investment portfolios including fixed maturities and short-term investments are presented as of March 31, 2024, and December 31, 2023. The company's business address is Wellesley House North, 1st Floor, 90 Pitts Bay Road, Pembroke, HM08.

Why It Matters

For investors and stakeholders tracking Hamilton Insurance Group, Ltd., this filing contains several important signals. This filing provides investors with a quarterly update on Hamilton Insurance Group's financial health and operational performance, crucial for assessing investment value. The detailed breakdown of investments and equity components allows stakeholders to understand the company's asset allocation and capital structure changes.

Risk Assessment

Risk Level: — Hamilton Insurance Group, Ltd. shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information. However, the absence of specific financial performance metrics like revenue or net income in the provided text limits a deeper risk assessment.

Analyst Insight

Review the full 10-Q filing for detailed financial statements, including revenue, net income, and cash flow, to form a comprehensive investment thesis.

Key Numbers

• 2024-03-31 — Reporting Period End Date (The 10-Q report is for the period ending on this date.)
• 2024-05-09 — Filing Date (The date the 10-Q was filed with the SEC.)
• 2024-01-01 — Quarter Start Date (Beginning of the first quarter of 2024.)

Key Players & Entities

• Hamilton Insurance Group, Ltd. (company) — Filer of the 10-Q report.
• 2024-03-31 (date) — End of the reporting period for the 10-Q.
• 2024-05-09 (date) — Filing date of the 10-Q.
• Pembroke, HM08 (location) — Business and mailing address city and zip code.

FAQ

Industry Context

Hamilton Insurance Group operates in the fire, marine, and casualty insurance industry.

Regulatory Implications

As a publicly traded company, Hamilton Insurance Group is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Obtain and review the full 10-Q filing for detailed financial statements.
2. Analyze the company's investment portfolio composition and changes.
3. Compare Q1 2024 financial data with previous periods to identify trends.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-09: Filing Date — The date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is a standard 10-Q for the first quarter of 2024. Specific comparative data from the previous filing (likely a 10-Q for Q4 2023 or Q1 2023) is not detailed in the provided text.

Key Financial Figures

• $0.01 — ered Class B common shares, par value $0.01 per share HG New York Stock Exchange

Filing Documents

• hg-20240331.htm (10-Q) — 1924KB
• a10q-311certificate31mar24.htm (EX-31.1) — 11KB
• a10q-312certificate31mar24.htm (EX-31.2) — 11KB
• a10q-321certificate31mar24.htm (EX-32.1) — 6KB
• a10q-322certificate31mar24.htm (EX-32.2) — 5KB
• 0001593275-24-000060.txt (&nbsp;) — 8631KB
• hg-20240331.xsd (EX-101.SCH) — 51KB
• hg-20240331_cal.xml (EX-101.CAL) — 89KB
• hg-20240331_def.xml (EX-101.DEF) — 332KB
• hg-20240331_lab.xml (EX-101.LAB) — 529KB
• hg-20240331_pre.xml (EX-101.PRE) — 434KB
• hg-20240331_htm.xml (XML) — 1509KB

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements 4

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 62

Controls and Procedures

Item 4. Controls and Procedures 62

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 63

Risk Factors

Item 1A. Risk Factors 63

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 63

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 63

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 63

Other Information

Item 5. Other Information 63

Exhibits

Item 6. Exhibits 64

Signatures

Signatures 65 1 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q of Hamilton Insurance Group, Inc. ("Quarterly Report") includes "forward looking statements" pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of terms such as "believes," "expects," "may," "will," "target," "should," "could," "would," "seeks," "intends," "plans," "contemplates," "estimates," or "anticipates," or similar expressions which concern our strategy, plans, projections or intentions. These forward-looking statements appear in a number of places throughout this Quarterly Report and relate to matters such as our industry, growth strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidity and capital resources and other financial and operating information. By their nature, forward-looking statements: speak only as of the date they are made; are not statements of historical fact or guarantees of future performance; and are subject to risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management's expectations, beliefs and projections will be achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements. There are a number of risks, uncertainties, and other important factors that could cause our actual results to differ materially from the forward-looking statements contained in this Quarterly Report. Such risks, uncertainties, and other important factors include, among others, the risks, uncertainties and factors set forth in "Risk Factors" included in the Company's Annual Report on Form 10-K for

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Index To Unaudited Condensed Consolidated Financial Statements Page Unaudited Condensed Consolidated Balance Sheets 5 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 6 Unaudited Condensed Consolidated Statements of Shareholders' Equity 7 Unaudited Condensed Consolidated Statements of Cash Flows 8 Notes to the Unaudited Condensed Consolidated Financial Statements Note 1. Organization 9 Note 2. Summary of Significant Accounting Policies 10 Note 3. Investments 11 Note 4. Fair Value 15 Note 5. Variable Interest Entities 17 Note 6. Reinsurance 18 Note 7. Reserve for Losses and Loss Adjustment Expenses 20 Note 8. Segment Reporting 21 Note 9. Debt and Credit Facilities 24 Note 10. Share Capital 25 Note 11. Earnings Per Share 27 Note 12. Subsequent Events 27 4 Hamilton Insurance Group, Ltd. Unaudited Condensed Consolidated Balance Sheets ($ in thousands, except share information) March 31, 2024 December 31, 2023 Assets Fixed maturity investments, at fair value (amortized cost 2024: $ 1,926,329 ; 2023: $ 1,867,499 ) $ 1,877,130 $ 1,831,268 Short-term investments, at fair value (amortized cost 2024: $ 351,035 ; 2023: $ 427,437 ) 352,068 428,878 Investments in Two Sigma Funds, at fair value (cost 2024: $ 753,967 ; 2023: $ 770,191 ) 953,659 851,470 Total investments 3,182,857 3,111,616 Cash and cash equivalents 1,085,038 794,509 Restricted cash and cash equivalents 95,565 106,351 Premiums receivable 856,111 658,363 Paid losses recoverable 169,469 145,202 Deferred acquisition costs 190,883 156,895 Unpaid losses and loss adjustment expenses recoverable 1,167,504 1,161,077 Receivables for investments sold 17,777 42,419 Prepaid reinsurance 285,984 194,306 Intangible assets 92,651 90,996 Other assets 205,186 209,621 Total assets $ 7,349,025 $ 6,671,355 Liabilities, non-controlling interest, and shareholders' equity L

View Full Filing

View this 10-Q filing on SEC EDGAR