Hamilton Insurance Group, a Bermuda-based provider of reinsurance and specialty insurance, raised $225 million by offering 15 million shares (58% secondary) at $15, below the range of $16 to $18. Insiders had indicated on $4 million worth of shares in the offering (2% of the deal).
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.
Hamilton Insurance Group plans to list on the NYSE under the symbol HG. Barclays, Morgan Stanley, Citi, and Wells Fargo Securities acted as joint bookrunners on the deal.
