Hamilton Insurance Group Ltd. Class B Common Shares (HG)

FairStock Score: 95/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Hamilton as a specialty insurer and reinsurer, not a bank, so I judge it on book value, underwriting and leverage. At the close on 2026-10-13, FairStock calculates a P/E of 6.10 and a P/B of 1.21. The filed record shows growth: FY2025, ended 2025-12-31, had revenue of $2.9B and net income of $840.0M, up from $2.3B and $613.2M in FY2024 and $1.6B and $280.3M in FY2023. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $839.6M and net income was $254.8M, though fiscal Q2 2025, ended 2025-06-30, had $267.8M of net income on $740.8M of revenue. That tells me earnings are real but cyclical. FairStock's ROE of 31.08% and debt-to-equity of 0.05 are exceptional on their face, and beta of 0.42 suggests a calm market profile. A 6x earnings and 1.2x book multiple imply the market doubts the durability of those returns. The moat is thin: underwriting talent, Bermuda capital efficiency and specialty niches, not a consumer franchise. I do not have the combined ratio, reserve development, investment yield, CET1 or NIM; the first two are critical for an insurer, and the last two are bank measures not in the data. The screen labels it TURNAROUND—returned to profit after a loss within three years—and gives Piotroski 6/9 and PEG 0.01, but the filed annuals I see already show profits in FY2023-FY2025. I would want underwriting consistency through a softer cycle before trusting the headline ROE.

In plain English: Hamilton Insurance Group sells specialty insurance and reinsurance to businesses around the world. The company has earned solid profits over the past few years and carries very little debt, but insurance profits can swing with disasters and pricing. At $34.92, the stock looks cheap compared with those profits and net assets, though the market may be worried the good times will not last.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer