Hamilton Insurance Group reported a strong financial performance for the full year 2025, driven by significant growth in gross premiums written and improved underwriting results, leading to a substantial increase in net income and book value per share. The company highlighted its disciplined approach to managing market cycles and declared a special dividend, reflecting confidence in its financial stability and strategic execution.
Net income increased by 44% to $577 million for the full year 2025, with a 22% return on average equity.
positiveGross premiums written grew 21% to $2.9 billion for the full year 2025.
positiveBook value per share increased by 24.2% to $28.50 as of December 31, 2025.
positiveThe company declared a special dividend of $2.00 per common share, totaling approximately $206.0 million.
positiveCombined ratio improved to 87.0% in Q4 2025 from 95.4% in Q4 2024.
positiveAttritional loss ratio (current year) increased by 5.3 points to 56.5% in Q4 2025, primarily driven by more large losses and a change in business mix, including an increase in casualty reinsurance business.
attentionAcquisition cost ratio increased by 2.7 points in Q4 2025 compared to Q4 2024, primarily due to a change in business mix and higher profit commission costs.
attentionCatastrophe losses (current and prior year), net of reinsurance, were $7.0 million in the International Segment for Q4 2025, driven by the Queensland hailstorms.
attentionCatastrophe losses (current and prior year), net of reinsurance, were $159.0 million for the full year 2025, primarily driven by the California wildfires.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
International Segment | N/A | — | — | — |
Bermuda Segment | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Hamilton delivered another record result in 2025, with net income of $577 million, or a 44% increase over net income last year, and a 22% return on average equity.
Gross premiums written grew 21% to $2.9 billion, our combined ratio was 92.9%, and book value per share increased 24%.
Since our listing in 2023, we have posted excellent underwriting results while growing book value per share 64%.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.