Hamilton Insurance Group made net income of $81.5m, or $0.81 per diluted share, in the third quarter of 2026, against $136.2m, or $1.32, a year earlier, the specialty insurer and reinsurer said on 29 October. Operating income, the company's preferred measure, rose to $179.9m, or $1.78 a share, from $123.1m. Gross premiums written grew 17.3% to $819.7m.
Underwriting margins narrowed sharply. The group combined ratio rose to 97.3% from 87.8%. Hamilton reported net catastrophe losses of $53.9m, which included $6.8m from the Middle East conflict and $47.1m of unfavourable development on prior-year losses from the conflict in Ukraine.
Both segments grew but earned little underwriting profit. The International segment increased premiums by 20.1% to $456.3m and made underwriting income of $9.0m at a combined ratio of 97.1%, against 95.4% a year earlier. The Bermuda segment grew premiums by 13.9% to $363.4m; its underwriting income was $6.6m and its combined ratio rose to 97.7% from 80.7%, mainly because of $42.6m of prior-year Ukraine-related development.
Book value per share was $29.80 at 30 September, up from $28.50 at the end of 2025, or $31.80 including accumulated dividends. Chief executive Pina Albo said the results reflect the benefits of the group's "diversified platform".
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Hamilton Insurance Group ↗Company · 29 Oct 2026
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