Hamilton Insurance Group Q2 2024 10-Q Filed
Ticker: HG · Form: 10-Q · Filed: Aug 8, 2024 · CIK: 1593275
Sentiment: neutral
Topics: 10-Q, financials, investments, insurance
TL;DR
**Hamilton Insurance Group Q2 10-Q is in! Check investments and common stock classes A, B, C for 2024 vs 2023.**
AI Summary
Hamilton Insurance Group, Ltd. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and positions, including investments in fixed maturities and short-term investments. Key figures for common stock classes A, B, and C are provided for the periods ending June 30, 2024, and December 31, 2023.
Why It Matters
This filing provides investors with an update on Hamilton Insurance Group's financial health and investment portfolio as of mid-2024, crucial for assessing its stability and future prospects.
Risk Assessment
Risk Level: medium — The filing contains detailed financial data, including investment holdings and common stock classes, which are essential for risk assessment but require careful analysis.
Key Numbers
- 2024-06-30 — Reporting Period End Date (Indicates the end of the financial period covered by the report.)
- 2024-08-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 2024-01-01 to 2024-06-30 — Year-to-Date Period (Covers the first six months of the fiscal year 2024.)
- 2024-04-01 to 2024-06-30 — Second Quarter Period (Covers the financial activity for the second quarter of fiscal year 2024.)
Key Players & Entities
- Hamilton Insurance Group, Ltd. (company) — Filer of the 10-Q
- 20240630 (date) — End of reporting period
- 20240808 (date) — Filing date
- 0001593275 (company) — Central Index Key for Hamilton Insurance Group, Ltd.
FAQ
What were Hamilton Insurance Group's total fixed maturities as of June 30, 2024?
The filing indicates that Hamilton Insurance Group had fixed maturities as of June 30, 2024, with specific dollar amounts to be detailed within the full report.
How did short-term investments compare between December 31, 2023, and June 30, 2024?
The filing provides data points for short-term investments as of both December 31, 2023, and June 30, 2024, allowing for comparison of this asset class.
What is the filing date for this 10-Q report?
This 10-Q report for Hamilton Insurance Group, Ltd. was filed on August 8, 2024.
Which fiscal period does this 10-Q filing cover?
This 10-Q filing covers the period ending June 30, 2024.
Are there different classes of common stock reported?
Yes, the filing references common stock classes A, B, and C for the periods ending June 30, 2024, and December 31, 2023.
Filing Stats: 4,415 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-08-08 16:21:07
Key Financial Figures
- $0.01 — ered Class B common shares, par value $0.01 per share HG New York Stock Exchange
Filing Documents
- hg-20240630.htm (10-Q) — 2702KB
- a10q-311certificate30jun24.htm (EX-31.1) — 11KB
- a10q-312certificate30jun24.htm (EX-31.2) — 11KB
- a10q-321certificate30jun24.htm (EX-32.1) — 6KB
- a10q-322certificate30jun24.htm (EX-32.2) — 5KB
- 0001593275-24-000088.txt ( ) — 10521KB
- hg-20240630.xsd (EX-101.SCH) — 51KB
- hg-20240630_cal.xml (EX-101.CAL) — 89KB
- hg-20240630_def.xml (EX-101.DEF) — 327KB
- hg-20240630_lab.xml (EX-101.LAB) — 531KB
- hg-20240630_pre.xml (EX-101.PRE) — 431KB
- hg-20240630_htm.xml (XML) — 2093KB
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 33
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 79
Controls and Procedures
Item 4. Controls and Procedures 79
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 80
Risk Factors
Item 1A. Risk Factors 80
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 80
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 80
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 80
Other Information
Item 5. Other Information 80
Exhibits
Item 6. Exhibits 81
Signatures
Signatures 82 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 21 Note 8. Segment Reporting 22 Note 9. Debt and Credit Facilities 27 Note 10. Share Capital 29 Note 11. Earnings Per Share 31 Note 12. Subsequent Events 32 4 Hamilton Insurance Group, Ltd. Unaudited Condensed Consolidated Balance Sheets ($ in thousands, except share information) June 30, 2024 December 31, 2023 Assets Fixed maturity investments, at fair value (amortized cost 2024: $ 2,119,739 ; 2023: $ 1,867,499 ) $ 2,068,930 $ 1,831,268 Short-term investments, at fair value (amortized cost 2024: $ 461,525 ; 2023: $ 427,437 ) 463,542 428,878 Investments in Two Sigma Funds, at fair value (cost 2024: $ 711,236 ; 2023: $ 770,191 ) 923,682 851,470 Total investments 3,456,154 3,111,616 Cash and cash equivalents 1,016,573 794,509 Restricted cash and cash equivalents 98,279 106,351 Premiums receivable 933,211 658,363 Paid losses recoverable 147,690 145,202 Deferred acquisition costs 203,279 156,895 Unpaid losses and loss adjustment expenses recoverable 1,160,309 1,161,077 Receivables for investments sold 12,307 42,419 Prepaid reinsurance 299,574 194,306 Intangible assets 94,410 90,996 Other assets 201,317 209,621 Total assets $ 7,623,103 $ 6,671,355 Liabilities, non-controlling interest, and shareholders' equity Li