| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 95 | 2.7x | 17.8x | Top tier | |
Growth | 87 | 15.5% | 7.1% | Top tier | |
Quality | 98 | — | — | Top tier | |
Safety | 34 | — | — | Bottom tier | |
Capital Return | 68 | — | 2.12% | Top tier | |
Momentum | 88 | 46.1% | 2.9% | Top tier | |
Sentiment | 36 | 4 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Hamilton Insurance Group operates through specialty insurance and reinsurance, and manages two operating segments, International and Bermuda, and three underwriting platforms, Hamilton Global Specialty, Hamilton Select, and Hamilton Re. The International segment comprises specialty insurance operations through Hamilton Global Specialty and Hamilton Select, while the Bermuda segment focuses on reinsurance through Hamilton Re. Earnings come from underwriting results and returns on an investment portfolio that totaled $6.1 billion as of June 30, 2026.
According to EDGAR data, the company recorded fiscal Q2 2026 revenue of $839.6 million, net income of $254.8 million, and earnings per share of $1.42, equivalent to a calculated net income margin of approximately 30.3%. For the twelve months ended in 2026, revenue totaled $3.0 billion, net income was $862.8 million, and earnings per share were approximately $8.54, compared with revenue of $2.9 billion, net income of $840.0 million, and earnings per share of $5.55 in fiscal 2025.
Gross premiums written in fiscal Q2 2026 totaled approximately $420 million in the International segment and $411 million in the Bermuda segment, representing a nearly balanced mix of approximately 51% and 49%, respectively, of the two-segment total. International segment premiums increased 22%, supported by specialty and casualty business, while Bermuda premiums grew 12%, supported by casualty reinsurance. Conversely, the company reduced its exposure to certain large commercial property insurance and property reinsurance business when pricing did not meet required return thresholds.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is Buy, with an average price target of $36.33 and a target range of $33 to $39. The average is only a limited distance from the top of the 52-week range of $37.31, while the highest target exceeds that peak. No published price-to-earnings ratio is available in the data, so the valuation should be viewed in light of the volatility of Two Sigma Hamilton Fund income, the increase in the combined ratio to 95.0%, and, in contrast, the 8.5% growth in distribution-adjusted book value to $30.91 per share as of June 30, 2026.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Earnings came from a combination of underwriting and investment results, as EDGAR data recorded revenue of $839.6 million, net income of $254.8 million, and earnings per share of $1.42. Investment income totaled $141 million, with Two Sigma Hamilton Fund alone contributing a net gain of $115 million and a 5.1% return. In underwriting, the company generated income of $29 million despite catastrophe losses of $50 million. The combined ratio was 95.0%, compared with 86.8% in fiscal Q2 2025.
Hamilton Select grew by more than 18% in fiscal Q2 2026, supported by excess casualty, excess property, and contractor products. AM Best upgraded the platform’s rating from A- to A in May 2026, enhancing its ability to access additional opportunities through brokerage partners. The platform expanded its scope from hard-to-place accounts into lower-middle-market risks and launched a property product in April 2026, with life sciences set to be the next class. Management said the greatest impact from the expansion is likely in 2027 because growth in 2026 will remain limited while underwriting teams are being built.
The company recorded $50 million of catastrophe losses in fiscal Q2 2026, including $46 million related to the Middle East conflict. These losses represented 8.5 points of the group’s loss ratio and pushed the combined ratio to 95.0%. The International segment absorbed $34 million of catastrophe losses, while the Bermuda segment absorbed $16 million. Conversely, management said the losses improved pricing and terms in certain marine and political violence insurance classes, while the company continued to use external protection across the portfolio.
Hamilton strengthened reserves for certain casualty lines by $16 million in fiscal Q2 2026 following its periodic internal review. Approximately $5 million came from additional information related to a 2018 loss, while most of the remainder related to the 2022 accident years. According to management, the strengthening equals approximately 0.8% of net casualty reserves and approximately 0.5% of total net reserves. Nevertheless, the Bermuda segment recorded 4.6 points of adverse prior-year loss development, making casualty claims trends and social and economic inflation important areas to monitor.
Management maintained its premium growth outlook at a low-double-digit level for full-year fiscal 2026, following 14% growth to $1.8 billion in the first half. It also maintained its attritional loss ratio outlook at 55% for the group, 54.5% for the International segment, and 56% for the Bermuda segment. Over the cycle, the company targets a combined ratio in the low-to-mid-90s range and a return on equity in the teens. These targets depend on underwriting selectivity and reducing business that does not meet return thresholds, particularly certain property lines.
The average analyst target is $36.33, with a low target of $33 and a high target of $39, and a consensus rating of Buy. This compares with a 52-week range of $22.66 to $37.31, placing the average target near the top of that range. Book value was $28.91 per share as of June 30, 2026, or $30.91 after adjusting for distributions, up 8.5% from the end of fiscal 2025. No published price-to-earnings ratio is available in the data, so the stock’s valuation is closely tied to the sustainability of investment returns and maintaining a combined ratio within the target range.
