Hamilton Insurance Group, Ltd. · NYSE:HG
Hamilton Insurance — Q4 2025 Earnings Presentation
22 slides from Hamilton Insurance's earnings presentation, Feb 20, 2026
Slide 1: Investor Presentation
Investor Presentation Hamilton Insurance Group, Ltd. Q4 2025
Slide 2: Special Note Regarding Forward-Looking Statements
Special Note Regarding Forward-Looking Statements This presentation 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
Slide 3: Special Note Regarding Forward-Looking Statements
Special Note Regarding Forward-Looking Statements • the cyclical nature of the insurance and reinsurance business, which may result in declines in competitors; pricing and more competitive terms and conditions; • our potentially becoming subject to additional or increased taxation, including U.S. fe
Slide 4: Introduction to Hamilton
Introduction to Hamilton y GI 7,
Slide 5: Highly Experienced Leadership Team
Highly Experienced Leadership Team Fostering an inclusive, collaborative and entrepreneurial culture Executive leadership Pina Albo Craig Howie Group CEO Group CFO 30+ Years 35+ Years Former: Munich Re Former: Everest Alex Baker Adrian Daws Anita Kuchma CEO, Hamilton Global Specialty CEO, Hamilton R
Slide 6: Our promise: expertise, service, collaboration, openness and inclusion
This declares our promise to everyone we interact with. We believe we are enriched by one another’s attitudes, experiences and knowledge. Our colleagues share a passion for service and results. We know that what we do each day is meaningful – to our customers and our business. Highly Open, diverse a
Slide 7: Hamilton – Overview and Results
Hamilton – Overview and Results Annual Segmental Results Group Financial Highlights Gross Premiums Written (GPW) $5.9B Segments Reporting International Bermuda 4Q 2025 Cash & Invested 2025 GPW 2025 GPW $2.4B $2.9B Assets $1.5B $1.4B FY 2024 FY 2025 Combined Ratio $2.8B 4Q 2025 Shareholders’ Hamilton
Slide 8: Diversified and Well Scaled Underwriting Platforms Facilitate Cycle Management
Diversified and Well Scaled Underwriting Platforms Facilitate Cycle Management Diversified by Insurance / Reinsurance, Class of Business, and Segment / Geography 2025 Gross Premiums Written of $2.9 Billion Insurance / Reinsurance Class of Business Business Segments Insurance 50% International Specia
Slide 9: Hamilton Group – Strategic Growth and Sustainable Underwriting Profitability
Hamilton Group – Strategic Growth and Sustainable Underwriting Profitability Double digit top line growth with bottom line improvement Hamilton Group - Gross Premiums Written ($’m) $2,923 $2,423 $1,951 $1,647 $1,447 2021 2022 2023 2024 2025 Hamilton Group - Combined Ratio(2) Loss Ratio Expense Ratio
Slide 10: Segment Results
Segment Results
Slide 11: International Segment: Market Leading Writer of Specialty (Re)Insurance Business
International Segment: Market Leading Writer of Specialty (Re)Insurance Business Specialty insurance products written in Lloyd’s, Hamilton Insurance DAC, HMGA Americas & Hamilton Select Highlights 2025 GPW Business Mix Hamilton Global Specialty 16% • Lloyd’s Syndicate 4000 and Hamilton Insurance DAC
Slide 12: International Segment: Measured Growth and Profitability Improvement
International Segment: Measured Growth and Profitability Improvement Results reflect the diversified, lower volatility portfolio we have built over time International Segment - Gross Premiums Written ($’m) $1,517 $1,308 $1,106 $892 $933 2021 2022 2023 2024 2025 International Segment - Combined Ratio
Slide 13: Bermuda Segment: Well Diversified Writer of Property, Casualty and Specialty Classes
Bermuda Segment: Well Diversified Writer of Property, Casualty and Specialty Classes Underwriting-focused operation with strong foundation to trade through the cycle Highlights 2025 GPW Business Mix Hamilton Re 13% • Established, scaled platform with broad, diversified client base 33% • Demonstrated
Slide 14: Bermuda Segment: Opportunities for Growth Remain in Changing Trading Environment
Bermuda Segment: Opportunities for Growth Remain in Changing Trading Environment Diversified portfolio allows for flexibility Bermuda Segment - Gross Premiums Written ($’m) $1,406 $1,114 $846 $713 $554 2021 2022 2023 2024 2025 Bermuda Segment - Combined Ratio(2) Loss Ratio Expense Ratio 104% 110% 85
Slide 15: Invested Assets
Invested Assets
Slide 16: Investment Strategy Review – $5.9 Billion
Investment Strategy Review – $5.9 Billion Investment Portfolio as of December 31, 2025 Fixed Income, Short-Term and Cash Two Sigma Hamilton Fund 63.3% / $3.8B 36.7% / $2.2B Aa3 average credit quality Low correlation to equity markets; PRESERVATION OF CAPITAL 100% investment grade long-term positive
Slide 17: Fixed Income Investment Portfolio as of December 31, 2025
Fixed Income Investment Portfolio as of December 31, 2025 Fixed income investments of $3.2 billion – Average rating of Aa3 and duration of 3.4 years 15% Corporate US Treas. Corporate A3 Aa1 11% US Treasury $3.2B 49% US Agency US Other Other Agency 25% Aa1 Aa1 Fixed income portfolio is managed by two
Slide 18: Two Sigma Hamilton Fund, LLC
Two Sigma Hamilton Fund, LLC Diversified fund focused on liquid strategies in global equities, fixed income, futures, and FX markets • Two Sigma aims to deliver low-correlated absolute Two Sigma Hamilton Fund returns primarily through the systematic and non- systematic application of fundamental, te
Slide 19: Investing in Hamilton
Investing in Hamilton y GI 7,
Slide 20: A Value Creation Engine: 64% Growth in BVPS Since IPO
A Value Creation Engine: 64% Growth in BVPS Since IPO Book Value Per Share (“BVPS”) Growth Since IPO $28.50 $27.06 $25.55 $23.59 $22.82 $22.95 $21.96 $19.90 $18.58 $17.35 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Investing in Hamiton 20
Slide 21: Who we are today
Who we are today A scaled, diversified, Entrepreneurial & Disciplined Demonstrated ability to global specialty experienced leadership underwriting grow profitably, insurance and reinsurance team fostering a distinctive approach focused on navigating across operation and attractive culture sustainabl
Slide 22: Contact us at investor.relations@hamiltongroup.com
Contact us at investor.relations@hamiltongroup.com Hamilton Insurance Group, Ltd. Wellesley House North, 1st Floor +1 (441) 405 5200 90 Pitts Bay Road, Pembroke HM08, Bermuda hamiltongroup.com
Hamilton Insurance Group — Q4 2025 Earnings Presentation on 6ix