Hamilton Insurance rises after posting Q4 profit vs year-ago loss

Hamilton Insurance

07/03/2024 16:52

** Shares of specialty insurer Hamilton Insurance  HG.N 
rise as much as 10.7%, last up 2% at $14.75
    ** After market close on Wednesday, HG posted Q4 profit of
$1.15/shr vs loss of 57 cents/shr last year
    ** Q4 net premiums written jumped 28.3% to $363.7 mln,
driven by robust performance in Bermuda segment
    ** HG's Bermuda segment benefited from rate increases in
casualty reinsurance and property insurance classes 
    ** Q4 combined ratio rose to 90.2% from 87.6% last year
    ** A ratio below 100% means the insurer earned more in
premiums than it paid out in claims
    ** Up to last close, stock down 3.3% YTD

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