Associated tags: Insurance, Research, Lloyd's of London, Professional Services, HG, Finance, ID
Locations: STATE FARM, SECOR, KINSALE, EASTON, FLORIDA, CARIBBEAN, UNITED STATES, BERMUDA, NORTH AMERICA, BLACKSTONE, HAMILTON, VIRGINIA, TOLOSA, SWITZERLAND, CANADA, PHILIPPINES, LLOYD
Hamilton Insurance Group, Ltd. (“Hamilton” or “the Company”) (NYSE: HG) announced today that Bradley E. Cooper has been appointed to its Board of Directors as a shareholder director by Hopkins Holdings, LLC, replacing Antonio Ursano, effective June 1, 2024.
Key Points:
- Hamilton Insurance Group, Ltd. (“Hamilton” or “the Company”) (NYSE: HG) announced today that Bradley E. Cooper has been appointed to its Board of Directors as a shareholder director by Hopkins Holdings, LLC, replacing Antonio Ursano, effective June 1, 2024.
- “I am pleased to welcome Brad to the Hamilton Board,” said Hamilton Chair David A.
- He has extensive Board experience with both publicly traded and privately held companies, having served on, and chaired many committees.
- Cooper has also been on the Board of non-profit Make-A-Wish Foundation of Metro New York for 16 years, the final three as Chair.
Insurance,
Professional Services,
TMK,
Tokio Marine Kiln,
Faculty,
Face,
Syndicate,
Risk management,
Multimedia,
HG,
Management Hamilton Insurance Group, Ltd. (“Hamilton”; “the Company”) (NYSE: HG) today announced that Wilfred Chin has been appointed to the newly-created role of Group Chief Actuary, effective May 1, 2024, reporting to Alex Baker, Group Chief Risk Officer.
Key Points:
- Hamilton Insurance Group, Ltd. (“Hamilton”; “the Company”) (NYSE: HG) today announced that Wilfred Chin has been appointed to the newly-created role of Group Chief Actuary, effective May 1, 2024, reporting to Alex Baker, Group Chief Risk Officer.
- View the full release here: https://www.businesswire.com/news/home/20240513517770/en/
Wilfred Chin, Group Chief Actuary at Hamilton (Photo: Business Wire)
Chin will have groupwide responsibility for reserving and pricing actuarial teams across Hamilton's three underwriting platforms: Hamilton Global Specialty, the Company’s underwriting platform written by Syndicate 4000 at Lloyd’s and Hamilton Insurance DAC; Hamilton Select, its US excess and surplus lines carrier; and Hamilton Re, its Bermuda-based insurer and reinsurer.
- “As a newly public company, establishing a Group Chief Actuary role signifies our steadfast focus on disciplined risk management and actuarial practices,” said Baker.
- His elevation into this role will help ensure that our operations remain resilient in the face of a rapidly evolving risk landscape.”
Chin joined Hamilton in 2023 as Chief Actuary at Hamilton Global Specialty.
Insurance,
Professional Services,
ROE,
Risk,
BAS,
AM Best,
Result,
HG,
Analysis,
Multimedia,
Security (finance) The total purchase price will be funded by a loan under the Company’s revolving credit facility which the Company intends to repay with funds withdrawn from the Two Sigma Hamilton Fund.
Key Points:
- The total purchase price will be funded by a loan under the Company’s revolving credit facility which the Company intends to repay with funds withdrawn from the Two Sigma Hamilton Fund.
- The Company expects to close the repurchase transaction on May 10, 2024 subject to customary closing conditions.
- The common shares purchased by Hamilton will be cancelled and the Company will have 101,878,284 shares outstanding following the repurchase transaction.
- View the full release here: https://www.businesswire.com/news/home/20240508121681/en/
“We are very pleased to have this opportunity to repurchase Hamilton shares at an attractive price and return capital to our shareholders,” said Pina Albo, CEO of Hamilton.
Net unfavorable attritional prior year reserve development, net of reinsurance, was $6.1 million, primarily driven by a specific large loss in our specialty reinsurance class.
Key Points:
- Net unfavorable attritional prior year reserve development, net of reinsurance, was $6.1 million, primarily driven by a specific large loss in our specialty reinsurance class.
- The acquisition cost ratio decreased by 1.3 points compared to the same period in 2023.
- Hamilton will host a conference call to discuss its financial results on Thursday, May 9, 2024, at 10:00 a.m.
- The conference call can be accessed by dialing 1-888-350-3870 (US toll free), or 1-646-960-0308, and entering the conference ID 6439207.
Other Professional Services,
Professional Services,
Insurance,
Risk,
Credit,
AM Best,
Finance,
Risk management,
Result,
HG,
Analysis Hamilton Insurance Group, Ltd. (NYSE: HG) (“the Company”) announced today that AM Best (“AM Best”) has upgraded the Financial Strength Rating to “A” (Excellent) from “A-” (Excellent) and the Long-Term Issuer Credit Ratings (“ICR”) of “a” (Excellent) from “a-” (Excellent) of Hamilton Re, Ltd. (“Hamilton Re”) and Hamilton Insurance Designated Activity Company (“Hamilton Insurance DAC”), each a wholly owned subsidiary of the Company (collectively referred to as “Hamilton”).
Key Points:
- Hamilton Insurance Group, Ltd. (NYSE: HG) (“the Company”) announced today that AM Best (“AM Best”) has upgraded the Financial Strength Rating to “A” (Excellent) from “A-” (Excellent) and the Long-Term Issuer Credit Ratings (“ICR”) of “a” (Excellent) from “a-” (Excellent) of Hamilton Re, Ltd. (“Hamilton Re”) and Hamilton Insurance Designated Activity Company (“Hamilton Insurance DAC”), each a wholly owned subsidiary of the Company (collectively referred to as “Hamilton”).
- AM Best further noted Hamilton has shown improving underwriting results consistently over the past five-year period while conservatively reserving, with a five year net favorable reserve development, outperforming peers.
- “We are thrilled that AM Best has upgraded Hamilton to an ‘A’ rating,” said the Company’s CEO Pina Albo.
- Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon the Company.
Professional Services,
Insurance,
Finance,
EY,
PwC,
Senior,
RenaissanceRe,
Family,
HG,
Multimedia,
Certified Public Accountant,
Management Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) announced today the appointment of Athena Tolosa as Chief Financial Officer at Hamilton Re, the Company’s Bermuda-based insurance and reinsurance underwriting platform, replacing Chad Cundliffe who has retired from the organisation.
Key Points:
- Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) announced today the appointment of Athena Tolosa as Chief Financial Officer at Hamilton Re, the Company’s Bermuda-based insurance and reinsurance underwriting platform, replacing Chad Cundliffe who has retired from the organisation.
- View the full release here: https://www.businesswire.com/news/home/20240429662618/en/
Tolosa will report to Hamilton Re Chief Executive Officer Megan Thomas and Group Chief Accounting Officer Brian Deegan and is based in Bermuda.
- In welcoming Tolosa, Thomas said, “Athena’s appointment is an excellent addition to Hamilton and I look forward to working closely with her.
- Her experience and counsel will help to ensure our finance team pursues its key priorities in support of Hamilton Re’s continued success.
Retrieved on:
Wednesday, March 27, 2024
Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) will issue its first quarter 2024 financial results after the market closes on Wednesday, May 8, 2024.
Key Points:
- Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) will issue its first quarter 2024 financial results after the market closes on Wednesday, May 8, 2024.
- Hamilton will host a conference call to discuss its financial results on Thursday, May 9, 2024, at 10:00 a.m.
- The conference call can be accessed by dialing 1-888-350-3870 (US toll free), or 1-646-960-0308, and entering the conference ID 6439207.
- A replay of the audio conference call will be available at investors.hamiltongroup.com or by dialing 1-800-770-2030 (US toll free) and entering the conference ID 6439207.
Retrieved on:
Wednesday, March 27, 2024
Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) will issue its first quarter 2024 financial results after the market closes on Wednesday, May 8, 2024.
Key Points:
- Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) will issue its first quarter 2024 financial results after the market closes on Wednesday, May 8, 2024.
- Hamilton will host a conference call to discuss its financial results on Thursday, May 9, 2024, at 10:00 a.m.
- The conference call can be accessed by dialing 1-888-350-3870 (US toll free), or 1-646-960-0308, and entering the conference ID 6439207.
- A replay of the audio conference call will be available at investors.hamiltongroup.com or by dialing 1-800-770-2030 (US toll free) and entering the conference ID 6439207.
Professional Services,
Insurance,
Natural Disasters,
Environment,
HG,
Risk,
ILS,
Senior,
MMC,
Multimedia,
Bookrunner Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) announced today the sponsorship of a new catastrophe bond through the issuance of Series 2024-1 notes by Easton Re Ltd. (“Easton Re”).
Key Points:
- Hamilton Insurance Group, Ltd. (NYSE: HG) (“Hamilton” or “the Company”) announced today the sponsorship of a new catastrophe bond through the issuance of Series 2024-1 notes by Easton Re Ltd. (“Easton Re”).
- “We are extremely pleased to announce the success of our second sponsorship of Easton Re bonds,” said Hanni Ali, Senior Vice President.
- “That we have secured more retrocession than initially targeted and at a better price than original guidance, underscores investor confidence in Hamilton.
- We are encouraged by the continued support and aim to further build on our relationships with ILS investors.”
The Easton Re catastrophe bond has been issued from Bermuda and the risk period will run from January 1, 2024 through December 31, 2026.
