Fundamentals snapshot
HG · NYQ · Financial Services · Insurance - Reinsurance
Current price
$35.07
52-week range
$22.66 - $37.31
Market cap
$3.46B
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net cash $923.99M. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Hamilton Insurance Group provides specialty insurance for unique, high-risk situations and also sells reinsurance (insurance for other insurance companies). The company makes money by collecting payments, called premiums, in exchange for promising to cover large, unpredictable events like natural disasters or major corporate lawsuits. This matters because Hamilton acts as a financial backstop, protecting other insurers and complex businesses from massive losses that could otherwise put them out of business.
Hamilton Insurance Group was started in 2013 in Bermuda by insurance industry veteran Brian Duperreault and the founders of a technology and data-focused investment firm, Two Sigma. The big idea was to use powerful data analysis to get an edge in the complex world of specialty insurance. A major turning point came in 2018 with the hiring of CEO Pina Albo, who led a strategic transformation of the business. The company became publicly traded on the New York Stock Exchange in November 2023, raising money to help it grow.
Hamilton is a specialty insurance and reinsurance company, which means it provides coverage for large, unusual, or complex risks that many regular insurers won't cover. Think of it as insurance for things like satellites in space, cyber-attacks, fine art collections, or political risks for businesses operating abroad. It also provides reinsurance, which is essentially insurance for other insurance companies, helping them pay very large claims in exchange for a portion of the premiums (the regular payments customers make for insurance) they collect.
This is the company's largest division, making up more than half of its business. It operates globally, including through the famous Lloyd's of London insurance market, to sell specialty insurance policies directly to medium and large businesses. This segment covers a wide range of risks, from professional liability (insurance for professionals like doctors or lawyers against mistakes) to unique property and accident policies.
This part of the company focuses primarily on reinsurance, which means its main customers are other insurance companies from around the world. It operates from Bermuda, a major hub for the global reinsurance industry. These customers pay Hamilton to take on a portion of their biggest risks, like those from major natural disasters or other large-scale events, which helps them stay financially stable. This segment accounts for a little less than half of the company's business.
The company's leadership is focused on using its expertise in complex risks to achieve disciplined, profitable growth. After becoming a public company, they plan to use the money raised to write more insurance policies, believing the current market conditions are very favorable for their specialty products. The strategy isn't just to get bigger, but to build a high-quality business known for smart risk-taking, rather than just selling as many policies as possible. They continue to emphasize their use of data and technology to make better underwriting (the process of deciding which risks to insure and at what price) decisions.
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net cash $924.0M - more cash than debt. Interest coverage 41.9x.
Hamilton Insurance Group, Ltd.'s profit covers its interest bill about 41.9 times over. which is stronger than most peers shown here.
Total debt $149.80M Interest coverage 41.86x This is the baseline the peer rows are being compared against.
Total debt $700.90M Interest coverage 7.79x -81% vs HG Carries about 5.4x less debt cushion than HG.
Total debt $1.49B Interest coverage 19.24x -54% vs HG Carries about 2.2x less debt cushion than HG.
Total debt $224.54M Interest coverage 60.58x +45% vs HG Carries about 1.4x more debt cushion than HG.
Total debt $2.34B Interest coverage 34.21x -18% vs HG Carries about 1.2x less debt cushion than HG.
Total debt $3.59B Interest coverage 13.50x -68% vs HG Carries about 3.1x less debt cushion than HG.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
Dividend
Metric explainer
Debt comparison
What you should know