Hamilton Insurance Group: Attractive As It Takes A Unique Approach

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Summary

  • Hamilton Insurance Group offers value, trading below book despite a 31% rally, thanks to its unique investment approach and niche Bermuda market presence.
  • The company is expanding in casualty insurance as competitors exit, leveraging improved pricing and a recent credit rating upgrade to drive growth.
  • Catastrophe losses impacted Q1 results, but core underwriting and investment performance, especially via Two Sigma, remain strong and support future upside.
  • With a conservative valuation near book value, shares offer a 13% upside; I rate HG a 'buy' for its differentiated strategy and capital appreciation potential.

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Shares of Hamilton Insurance Group (NYSE:HG) have been a strong performer over the past year, adding about 31% to sit near a 52-week-high. Hamilton is a niche player in the Bermuda insurance market, but it has a

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