Hamilton Insurance Group, a Bermuda-based provider of reinsurance and specialty insurance, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Hamilton Group is a global specialty insurance and reinsurance company, with underwriting operations in Lloyd's of London, Ireland, Bermuda, and the US. The company's diverse underwriting operations are supported by proprietary technology and a unique investment management relationship with Two Sigma Investments, among other qualities. For the six months ended June 30, 2023, Hamilton Group had gross written premiums of $1.0 billion.
Close peer Fidelis Insurance Holdings (FIHL) has delivered modest trading since its June 2023 IPO. The reinsurer closed Monday slightly above its IPO price.
The Hamilton, Bermuda-based company was founded in 2013 and booked $1.2 billion in revenue for the 12 months ended June 30, 2023. It plans to list on the NYSE under the symbol HG. Hamilton Insurance Group filed confidentially on May 15, 2023. Barclays and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
