Hamilton Insurance Group, Ltd. (HG) Earnings
Hamilton Insurance Group, Ltd. is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $1.12. HG has beaten EPS estimates in 5 of its last 7 reported quarters (average surprise +82.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 1, 2026 | $1.09 | $1.64 | +50.5% | $940M | +0.7% |
| Feb 19, 2026 | $0.69 | $1.65 | +139.1% | $730M | +17.5% |
| Nov 4, 2025 | $0.71 | $1.32 | +85.9% | $682M | +5.8% |
| Aug 6, 2025 | $1.01 | $1.55 | +53.5% | $741M | +42.6% |
| Feb 26, 2025 | $0.76 | $0.32 | -57.9% | $583M | +26.7% |
| Mar 6, 2024 | $0.65 | $1.15 | +76.9% | $442M | +21.9% |
| Nov 13, 2023 | $0.50 | $0.41 | -18.0% | $395M | +3.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 1, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Welcome to the earnings call, pleased with Q1 performance despite complex market. - Stuck to disciplined underwriting, wrote business at desired pricing. - Broader market observations: reinsurance renewals competitive, Middle East conflict impacts specialty classes. - Bermuda segment details: growth in casualty reinsurance, property reinsurance impact of reinstatement premiums, specialty reinsurance line growth. - International segment details: growth in specialty and casualty classes, pullback in certain lines. - Hamilton Select growth in casualty lines, muted in others. - Emphasize cycle management key, risk and client selection important.
Guidance
- Upcoming mid-year renewals expected to have similar pricing pressure to year so far, margins to remain above thresholds. - Expect attritional loss ratio to be about 54.5% for full year 2026. - Special dividend declared and shares repurchased, $159 million remaining under share repurchase authorization with plan to use as accretive. - Expect to continue deploying capital actively and effectively, including through dividends or buybacks if strong business opportunities not seen.
Segment performance
Bermuda: Gross premiums written $497 million, up 5%. Property reinsurance premiums fell due to non-recurring reinstatement premiums, but flat excluding that. Specialty reinsurance line grew 2.7%. Insurance side of Bermuda book reduced writings in large account property DNF book. International: Gross premiums written grew 20%. Hamilton Global Specialty up 20% driven by specialty and casualty classes. Hamilton Select (U.S. ENF platform) grew 17% driven by excess casualty, general casualty, and small business, muted in professional and medical professional lines. Underwriting income for Bermuda was $51 million with combined ratio 81.8%, international had underwriting income $7 million with combined ratio 97.5%.
Risks & headwinds
- Reinsurance renewals facing competitive pricing, though still risk adequate. - Middle East conflict may lead to inflationary pressures and impact reinsurance programs. - Softening pricing coming off historic highs but still need to manage underwriting cycle carefully to maintain profitability. - Business mix changes can impact loss and acquisition ratios.
Analyst Q&A
Q: On PYD and Iran conflict exposure.
A: PYD related to Baltimore Bridge, $14 million development. Iran conflict losses in specialty insurance classes, exposures manageable.
Q: Elaborate on appetite for Florida renewals.
A: Upcoming 6-1 renewals largely Florida driven, not big part of portfolio. Use ADA RE for Florida renewals, focus on key clients at 7-1 renewals, expect mid-year pricing pressure but rates adequate.
Q: Update on Hamilton Select.
A: 17% growth in casualty lines, muted in professional lines, property launch in Q2.
Q: Increased mix of casualty business and property reinsurance account mix.
A: Acquisition cost ratio driven by business mix, property reinsurance renewals focus on appropriate risk-adjusted returns and broad trading relationships.
Q: Two-sigma reporting cadence and buyback/dividend plans.
A: Two-sigma results reported quarterly, plan to continue returning capital to shareholders through dividends or buybacks as accretive.