Hamilton Insurance jumps after more than three-fold Q2 profit surge

Hamilton Insurance

08/08/2024 16:51

** Shares of specialty insurer Hamilton Insurance  HG.N 
jump as much as 12.5%, last up 8.9% at $16.85
    ** After market close on Wednesday, HG posted Q2 profit of
$1.20/shr, a more than three-fold surge from pcp
    ** Q2 net premiums written jumped 23.5% to $475.1 mln,
driven by robust performance in its Bermuda business
    ** HG recorded an all-time low combined ratio of 84.4% in Q2
    ** A ratio below 100% means the insurer earned more in
premiums than it paid out in claims
    ** HG says board has authorized $150 mln share repurchase
program
    ** Stock up 12.7% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))