Professional
Added to YB: 2025-12-30
Pitch date: 2025-05-12
HG [bearish]
Hamilton Insurance Group, Ltd.
-36.85%
current return
Author Info
Cedar Street Research delivers unique insights by leveraging an unconventional approach to financial analysis, combining the power of historical trends with bespoke data in order to uncover deep, actionable predictions about the future. We specialize in insurance companies, but extend our services to banks and specialty finance firms as well. Sign up for the newsletter.
Company Info
Hamilton Insurance Group, Ltd., through its subsidiaries, operates as specialty insurance and reinsurance company in Bermuda and internationally.
Market Cap
$2.8B
Pitch Price
$20.54
Price Target
N/A
Dividend
N/A
EV/EBITDA
2.73
P/E
6.73
EV/Sales
0.75
Sector
Insurance
Category
N/A
Hamilton Insurance Group, Ltd.: Operating Leverage Limitations Due to Inefficient London Acquisition Costs and Deteriorating Casualty & Specialty Portfolio Experiencing Adverse Development
HG (bearish): P&C insurer at 0.8x P/B, 5.2x P/E trades cheap but faces headwinds. Limited operating leverage due to 25.6% acquisition costs in London vs 16.4% peer avg. Property portfolio (26% of premium) facing -10% to -25% rate declines Q1 2025. Casualty showing adverse development across young accident years despite +8% rate increases, suggesting deficient pricing. Chain ladder analysis projects $510M adverse development by Year 10 across casualty portfolios.
Read full article (12 min)