Hamilton Insurance welcomes new board members

PEMBROKE, Bermuda - Hamilton Insurance Group, Ltd. (NYSE: HG), a $2.14 billion market cap insurer trading near its 52-week high of $21.68, has announced the appointment of Karen Green and David Priebe to its Board of Directors, effective last Sunday. The company also marked the retirement of Bill Freda, who has been a part of the board since June 2014 and served as Chair from August 2017 to May 2023.

David A. Brown, the current Chair of Hamilton’s Board, expressed enthusiasm for the new appointments, stating, "We are delighted to welcome Karen and David to the Board. Their expertise will provide invaluable insights to guide Hamilton in achieving its strategic goals."

Pina Albo, CEO of Hamilton, echoed Brown’s sentiments, highlighting the strategic alignment of the new board members with the company’s objectives. Albo also acknowledged Freda’s significant contributions to Hamilton’s foundation for success.

Karen Green brings a wealth of experience to the board, with her current roles including Senior Independent Director of Phoenix Group Holdings PLC and Non-Executive Directorships at Admiral Insurance Group PLC and Great Portland Estates PLC. Her previous positions include various senior executive roles at Aspen Insurance Holdings and a stint as an investment banker.

David Priebe, known for his extensive career in the reinsurance industry, recently retired from Guy Carpenter and Company, where he held the role of Chair, among other senior leadership positions. His expertise in capital markets and investment banking is expected to benefit Hamilton’s growth and profitability strategies.

Hamilton Insurance Group is a global specialty insurance and reinsurance company headquartered in Bermuda, underwriting risks through its wholly owned subsidiaries. The company operates three underwriting platforms: Hamilton Global Specialty, Hamilton Select, and Hamilton Re. According to InvestingPro, the company maintains strong liquidity with a current ratio of 2.15 and trades at an attractive P/E ratio of 6.81. InvestingPro analysis reveals 8 additional key insights about Hamilton’s performance and prospects, available to subscribers.

The strategic enhancement of Hamilton’s board with Green and Priebe’s appointments is based on a press release statement and reflects the company’s commitment to driving value for clients and shareholders. With impressive revenue growth of 27.7% and an overall financial health score of "GREAT" according to InvestingPro’s comprehensive analysis, Hamilton demonstrates strong operational execution. For detailed insights and expert analysis, access the full Hamilton Insurance Group Pro Research Report, part of InvestingPro’s coverage of 1,400+ US equities.

In other recent news, Hamilton Insurance Group reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $0.32, which fell short of the forecasted $0.71. Despite this miss, the company saw a 55% year-over-year increase in net income for the full year. The revenue for the year was $543.94 million, significantly surpassing the forecast of $25.1 million, and gross premiums written increased by 24% to $2.4 billion. Analysts from JMP Securities responded by raising the price target for Hamilton Insurance to $27, maintaining a Market Outperform rating, even though the company missed EPS estimates due to higher non-controlling interest expenses and corporate expenses.

Keefe, Bruyette & Woods also adjusted their outlook, lifting the stock target to $25 from $23, while maintaining an Outperform rating. This adjustment was due to a mixed revision of earnings projections, influenced by the California wildfires and an improved earnings forecast for the next year. The wildfires are expected to have a notable financial impact, with an estimated net loss of $120 million to $150 million. Despite these challenges, Hamilton Insurance’s gross written premiums showed strong growth, particularly in the International and Bermuda/Reinsurance segments. Both Keefe and JMP analysts expressed confidence in Hamilton’s strategic initiatives and financial health, highlighting the company’s robust underwriting capabilities and potential for continued growth.

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