Slide 1: Supplementary Financial Information December 31, 2025
Hamilton Insurance Group, Ltd. Supplementary Financial Information December 31, 2025 Investor Contact Investor.Relations@hamiltongroup.com
Slide 2: Table of Contents
Hamilton Insurance Group, Ltd. Table of Contents Page I. Basis of Presentation ......................................................................................................................................................................................................... 1 II. Financial Hig
Slide 3: Basis of Presentation
1 Basis of Presentation All financial information contained herein is unaudited, however, certain information relating to the consolidated balance sheet at the most recent year end is derived from or agrees to audited financial information. Unless otherwise noted, all data is in thousands, except fo
Slide 4: Special Note Regarding Forward-Looking Statements (continued)
2 Basis of Presentation Special Note Regarding Forward-Looking Statements (continued) • our limited financial and operational flexibility due to covenants and other restrictions in our existing or future credit facilities and debt arrangements; • our exposure to the credit risk of insurance and rein
Slide 5: Special Note Regarding Forward-Looking Statements (continued)
3 Basis of Presentation Special Note Regarding Forward-Looking Statements (continued) • the risk that anti-takeover provisions in our Bye-laws or Bermuda law could discourage, delay or prevent a change in control, even if beneficial to shareholders; and • difficulties investors may face in enforcing
Slide 6: Financial Highlights
4 Financial Highlights Three Months Ended December 31, Year Ended December 31, ($ in thousands) 2025 2024 2025 2024 Net income (loss) attributable to common shareholders ......................................................................................... $ 172,185 $ 33,920 $ 576,670 $ 400,429 O
Slide 7: Key Operating and Financial Metrics
5 Three Months Ended December 31, Year Ended December 31, ($ in thousands, except per share amounts) 2025 2024 2025 2024 Income (loss) per share attributable to common shareholders - basic .................................................................. $ 1.74 $ 0.33 $ 5.75 $ 3.81 Income (loss) pe
Slide 8: Statements of Operations
6 Three Months Ended December 31, Year Ended December 31, ($ in thousands, except per share amounts) 2025 2024 2025 2024 Revenues Gross premiums written ................................................................................................................................................ $
Slide 9: Consolidated Balance Sheets
7 December 31, September 30, June 30, March 31, December 31, ($ in thousands, except share information) 2025 2025 2025 2025 2024 Assets Fixed maturity investments, at fair value (amortized cost December 31, 2025: $3,210,940) ....................................... $ 3,238,543 $ 3,022,441 $ 2,698,470
Slide 10: Reconciliation of GAAP Balance Sheet to Unconsolidated Balance Sheet
8 December 31, 2025 ($ in thousands) Consolidated GAAP Balance Sheet Two Sigma Hamilton Fund Balances Unconsolidated Balance Sheet(1) Assets Fixed maturity investments, at fair value .....................................................................................................................
Slide 11: Net Investment Return
9 Three Months Ended December 31, Year Ended December 31, ($ in thousands) 2025 2024 2025 2024 Net realized gains (losses) on investments .......................................................................................................... $ 93,006 $ 85,422 $ 517,147 $ 468,068 Fixed maturities
Slide 12: Fixed Maturity and Short-Term Investments
10 December 31, 2025 December 31, 2024 ($ in thousands) Fair Value % of Total Weighted Average Credit Rating Fair Value % of Total Weighted Average Credit RatingFixed Maturity Trading Portfolio and Short-Term Investments(1) Fixed maturities U.S. government treasuries ................................
Slide 13: Consolidated Underwriting Results - Quarter
11 Three Months Ended December 31, 2025 Three Months Ended December 31, 2024 ($ in thousands) International Bermuda Total International Bermuda Total Gross premiums written ........................................................................ $ 422,345 $ 246,623 $ 668,968 $ 350,479 $ 193,458 $ 54
Slide 14: Consolidated Underwriting Results - Year
12 Year Ended December 31, 2025 Year Ended December 31, 2024 ($ in thousands) International Bermuda Total International Bermuda Total Gross premiums written ......................................................................... $ 1,517,060 $ 1,406,085 $ 2,923,145 $ 1,308,460 $ 1,114,122 $ 2,422,5
Slide 15: 5Q Consolidated Underwriting Results
13 Three Months Ended Year Ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands) 2025 2025 2025 2025 2024 2025 2024 Gross premiums written ........................................................................... $ 668,968 $ 698,845 $ 712,026 $
Slide 16: 5Q Underwriting Results - International
14 Three Months Ended Year Ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands) 2025 2025 2025 2025 2024 2025 2024 Gross premiums written ........................................................................... $ 422,345 $ 379,957 $ 344,799 $
Slide 17: 5Q Underwriting Results - Bermuda
15 Three Months Ended Year Ended December 31, September 30, June 30, March 31, December 31, December 31, December 31, ($ in thousands) 2025 2025 2025 2025 2024 2025 2024 Gross premiums written ........................................................................... $ 246,623 $ 318,888 $ 367,227 $
Slide 18: Peak Natural Catastrophe Net PML
16 Region Peril Probability of Exceedance Group Net PML ($m)(1) % of Shareholders' Equity Florida U.S. Hurricane 1 in 100 $ 242.3 8.6 % Northeast U.S. Hurricane 1 in 100 243.5 8.6 % Gulf (TX - AL) U.S. Hurricane 1 in 100 194.3 6.9 % California Earthquake 1 in 250 292.3 10.4 % Pacific Northwest Earth
Slide 19: Other Information: Non-GAAP Measures
17 Other Information Non-GAAP Measures We present our results of operations in a way that we believe will be the most meaningful and useful to investors, analysts, rating agencies and others who use our financial information to evaluate our performance. Some of the measurements that management uses
Slide 20: Return on Average Common Shareholders' Equity Reconciliation
18 Return on average common shareholders' equity - annualized ................................................................................. 25.1 % 5.8 % 22.4 % 18.3 % Adjustment for: .................................................................................................................
Slide 21: Underwriting Income (Loss)
19 Underwriting Income (Loss) We calculate underwriting income (loss) on a pre-tax basis as net premiums earned less losses and loss adjustment expenses, acquisition costs and other underwriting expenses (net of third party fee income). We believe that this measure of our performance focuses on the
Slide 22: Other Underwriting Expenses
20 Three Months Ended December 31, Year Ended December 31, ($ in thousands) 2025 2024 2025 2024 Other underwriting expenses ........................................................................................................................................... $ 57,079 $ 69,674 $ 221,743 $ 210,01