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Friday 6 November 2026
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Hamilton Insurance Group, Ltd.
HG Financial Insurance Reinsurance
Hamilton Insurance Group, Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $2.9 billion, up 24.7% from fiscal 2024.
- Revenue
- +13.3%
- EPS
- −21.6%
- Free cash flow
- −42.6%
- Total debt
- +0.07%
Quarter to June 2026, against a year earlier
36.84
0.44
−1.18%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | 681 | 681 | 1,334 | 1,233 | 1,571 | 2,330 | 2,906 | 2,994 | +27.4% | 3,029 | 3,099 | 3,420 | +5.6% | |
| Gross margin, % | — | — | — | 25.78 | 25.78 | 51.97 | 38.50 | 54.51 | 56.64 | 56.69 | 57.27 | +30.9 pt | ||||||
| EBT | — | — | — | (174) | (431) | 262 | (27) | 255 | 622 | 825 | 847 | n/m | ||||||
| EBT margin, % | — | — | — | (25.56) | 0.00 | 19.66 | (2.18) | 16.25 | 26.68 | 28.39 | 28.27 | +53.9 pt | ||||||
| Net income | — | — | — | 0 | 0 | 250 | (30) | 280 | 613 | 840 | 863 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | 0.00 | 6.64 | 13.00 | 11.96 | 15.02 | 22.16 | 28.95 | 30.16 | n/m | |||||
| Earnings | — | — | — | — | (2.05) | 1.83 | (0.95) | 2.47 | 3.81 | 5.75 | 5.90 | n/m | ||||||
| Cash flow | — | — | — | — | 0.00 | 2.21 | 1.85 | 2.71 | 7.22 | 8.39 | 8.21 | n/m | ||||||
| Capex | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | — | 0.00 | 2.21 | 1.85 | 2.71 | 7.22 | 8.39 | 8.21 | n/m | ||||||
| Book value | — | — | — | — | 0.00 | 0.00 | 16.15 | 19.59 | 22.15 | 28.12 | 28.72 | n/m | ||||||
| Shares, m | — | — | — | — | 103 | 103 | 103 | 105 | 105 | 100 | 100 | (0.4%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 6.11 | 5.06 | 4.85 | 6.24 | 2.3 | |||||
| P/S | — | — | — | 1.19 | 1.19 | 1.19 | 1.19 | 1.00 | 0.86 | 0.96 | 1.22 | 1.1 | ||||||
| P/B | — | — | — | 0.86 | 0.86 | 0.86 | 0.86 | 0.77 | 0.86 | 0.99 | 1.28 | 0.9 | ||||||
| EV/Sales | — | — | — | 0.62 | 0.62 | 0.62 | 0.62 | 0.52 | 0.45 | 0.61 | — | 0.6 | ||||||
| EV/FCF | — | — | — | 3.21 | 3.21 | 3.21 | 3.21 | 2.90 | 1.38 | 2.11 | — | 2.7 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | 188 | 227 | 191 | 283 | 759 | 842 | 815 | +34.9% | |||||
| Capex | — | — | — | — | 0 | — | — | — | — | — | — | — | ||||||
| Free cash flow | — | — | — | — | 188 | 227 | 191 | 283 | 759 | 842 | 815 | +34.9% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 2,831 | (815) | (842) | (1,365) | (1,746) | (2,540) | (2,850) | n/m | |||||
| Net debt | — | — | — | — | (805) | (805) | (1,057) | (751) | (951) | (1,022) | (679) | +4.9% | ||||||
| Shareholders’ equity | — | — | — | — | 1,788 | 1,788 | 1,664 | 2,048 | 2,329 | 2,822 | 2,851 | +9.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | 0.00 | 6.71 | 6.71 | (1.71) | 4.14 | 5.54 | 6.64 | 6.11 | +6.6 pt | |||||
| ROIC | — | — | — | 0.00 | (26.45) | 0.00 | (2.76) | 12.30 | 28.19 | 28.64 | 24.36 | +28.6 pt | ||||||
| ROE | — | — | — | 0.00 | 0.00 | 0.00 | (5.68) | 13.94 | 18.30 | 22.39 | 21.38 | +22.4 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 500 | 500 | 600 | 600 | — | +6.3% | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.00 | 0.00 | 2.47 | 3.14 | 3.88 | 4.84 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Hamilton Insurance Group, Ltd. vs peers in Insurance Reinsurance (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| RGA Reinsurance Group of America, Incorporated | $17.1B | 11.4× | 10.4× | +18.54% (above 0%: growing) | +159.93% (above 0%: growing) | +40.98% (above 0%: growing) | 15.58% | 10.73% | Compare |
| EG Everest Group, Ltd. | $15.5B | 8.8× | 8.1× | −14.03% (below 0%: shrinking) | +0.49% (above 0%: growing) | −54.28% (below 0%: shrinking) | 9.00% | 8.19% | Compare |
| RNR RenaissanceRe Holdings Ltd. | $14.3B | 10.1× | 11.8× | −47.11% (below 0%: shrinking) | n/m | −49.80% (below 0%: shrinking) | 7.22% | (0.01%) | Compare |
| HG Hamilton Insurance Group, Ltd. | $3.6B | 6.2× | 6.9× | +13.34% (above 0%: growing) | −21.62% (below 0%: shrinking) | −42.62% (below 0%: shrinking) | 56.94% | 31.21% | |
| SPNT SiriusPoint Ltd. | $3.1B | 6.2× | 10.0× | +14.78% (above 0%: growing) | +1.35% (above 0%: growing) | +9.25% (above 0%: growing) | 29.56% | 0.00% | Compare |
| GLRE Greenlight Capital Re, Ltd. | $528.1M | 9.4× | — (loss-making) | +1.52% (above 0%: growing) | n/m | −84.18% (below 0%: shrinking) | 12.42% | 12.42% | Compare |
| KG Kestrel Group Ltd | $32.4M | — (loss-making) | — (loss-making) | +20.12% (above 0%: growing) | n/m | −29.99% (below 0%: shrinking) | 62.64% | (94.30%) | Compare |
| OXBR Oxbridge Re Holdings Limited | $6.3M | 38.5× | — (loss-making) | +41.57% (above 0%: growing) | n/m | +87.70% (above 0%: growing) | 95.32% | 31.17% | Compare |
| Median of peers | $3.1B | 9.7× | 10.2× | +14.78% | +1.35% | −29.99% | 15.58% | 8.19% |
Pay and ownership Proxy statement filed 24 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 8.98m | 24.79m | 186.00 |
| 2024 | 8.65m | 17.22m | 126.87 |
| 2023 | 12.79m | 15.59m | 99.67 |
Ownership
Directors and executive officers, together
3.02% of the votes
Entities affiliated with Magnitude
15.14% of the votes
Hopkins Holdings, LLC
8.99% of the votes
Sango Hoken Holdings, LLC
8.59% of the votes
Wellington Management Group LLP
4.67% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Hamilton Insurance Group, Ltd. (HG) Latest News
31 Oct
30 Oct
29 Oct
22 Oct
23 Sep
8 Aug
HG metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth