Hamilton Insurance Group, Ltd. · NYSE:HG
Hamilton Insurance — Q3 2024 Earnings Presentation
20 slides from Hamilton Insurance's earnings presentation, Nov 6, 2024
Slide 1: Supplementary Financial Information September 30, 2024
Hamilton Insurance Group, Ltd. Supplementary Financial Information September 30, 2024 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 H
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: Basis of Presentation (continued)
2 Basis of Presentation (continued) Special Note Regarding Forward-Looking Statements (continued) • our ability to manage risks associated with macroeconomic conditions resulting from geopolitical and global economic events, including public health crises, current or anticipated military conflicts,
Slide 5: Basis of Presentation (continued)
3 Basis of Presentation (continued) Special Note Regarding Forward-Looking Statements (continued) You should read this information completely and with the understanding that actual future results may be materially different from expectations. We caution you that the risks, uncertainties, and other f
Slide 6: Financial Highlights
4 Financial Highlights Three Months Ended September 30, Nine Months Ended September 30, Year Ended ($ in thousands) 2024 2023 2024 2023 2023 Net income (loss) attributable to common shareholders ............................................................ $ 78,250 $ 43,583 $ 366,509 $ 131,862 $ 258,
Slide 7: Key Operating and Financial Metrics
5 Three Months Ended September 30, Nine Months Ended September 30, Year Ended ($ in thousands, except per share amounts) 2024 2023 2024 2023 2023 Income (loss) per share attributable to common shareholders - basic .................................... $ 0.77 $ 0.42 $ 3.45 $ 1.27 $ 2.47 Income (loss)
Slide 8: Statements of Operations
6 Three Months Ended September 30, Nine Months Ended September 30, Year Ended ($ in thousands, except per share amounts) 2024 2023 2024 2023 2023 Revenues Gross premiums written .................................................................................................................... $ 553
Slide 9: Consolidated Balance Sheets
7 September 30, June 30, March 31, December 31, September 30, ($ in thousands, except share information) 2024 2024 2024 2023 2023 Assets Fixed maturity investments, at fair value (amortized cost September 30, 2024: $2,306,168) ...................................... $ 2,320,184 $ 2,068,930 $ 1,877,13
Slide 10: Reconciliation of GAAP Balance Sheet to Unconsolidated Balance Sheet
8 September 30, 2024 ($ 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 September 30, Nine Months Ended September 30, Year Ended ($ in thousands) 2024 2023 2024 2023 2023 Net realized gains (losses) on investments ............................................................................... $ 93,711 $ 42,403 $ 382,646 $ 32,363 $ 84,513 Fixed matur
Slide 12: Fixed Maturity and Short-Term Investments
10 September 30, 2024 December 31, 2023 ($ 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 - Three Months
11 Three Months Ended September 30, 2024 Three Months Ended September 30, 2023 ($ in thousands) International Bermuda Total International Bermuda Total Gross premiums written ........................................................................ $ 325,525 $ 227,876 $ 553,401 $ 307,140 $ 166,983 $
Slide 14: Consolidated Underwriting Results - Nine Months
12 Nine Months Ended September 30, 2024 Nine Months Ended September 30, 2023 ($ in thousands) International Bermuda Total International Bermuda Total Gross premiums written ......................................................................... $ 957,981 $ 920,664 $ 1,878,645 $ 832,049 $ 685,198 $
Slide 15: 5Q Consolidated Underwriting Results - Group
13 Three Months Ended Nine Months Ended Year Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, December 31, ($ in thousands) 2024 2024 2024 2023 2023 2024 2023 2023 Gross premiums written ................................................ $ 553,401 $ 603,304
Slide 16: 5Q Underwriting Results - International
14 Three Months Ended Nine Months Ended Year Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, December 31, ($ in thousands) 2024 2024 2024 2023 2023 2024 2023 2023 Gross premiums written ................................................ $ 325,525 $ 311,616
Slide 17: 5Q Underwriting Results - Bermuda
15 Three Months Ended Nine Months Ended Year Ended September 30, June 30, March 31, December 31, September 30, September 30, September 30, December 31, ($ in thousands) 2024 2024 2024 2023 2023 2024 2023 2023 Gross premiums written ................................................ $ 227,876 $ 291,688
Slide 18: Group Net PML by Region and Peril
16 Region Peril Probability of Exceedance Group Net PML ($m)(1) % of Shareholders' Equity Florida U.S. Hurricane 1 in 100 $ 223.5 9.7 % Northeast U.S. Hurricane 1 in 100 207.6 9.0 % Gulf (TX - AL) U.S, Hurricane 1 in 100 175.6 7.6 % California Earthquake 1 in 250 331.0 14.3 % 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 are considered non-GA
Slide 20: Other Underwriting Expenses and G&A Expenses
18 Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2024 2023 2024 2023 Other underwriting expenses ............................................................................................................ $ 48,332 $ 44,357 $ 140,339 $ 126,242 Corporate expenses .
Hamilton Insurance Group — Q3 2024 Earnings Presentation on 6ix