Hamilton Insurance Group posted second-quarter net income of nearly $144 million — down 23 per cent year over year.

The company produced a 21 per cent annualised return on average equity, a 95 per cent combined ratio and strong investment income for the quarter.

Pina Albo, Hamilton’s chief executive officer, praised staff for navigating “a market that requires and rewards strong broker and client relationships and disciplined underwriting”.

She said: “Gross premiums written increased 17 per cent, reflecting our continued focus on margin quality, thoughtful risk selection and long-term value creation.”

The financial results for the three months to June 30 came as directors announced an amendment to the employment agreement of the CEO, extending her employment term through December 31, 2029.

A statement said that after that, her employment term will continue to renew automatically for successive one-year periods.

David Brown, Hamilton’s chairman said: “Under Pina's leadership, Hamilton has built a differentiated platform and delivered strong performance.

“Extending her employment term reflects the board's confidence in her exceptional leadership and our commitment to executing the company's long-term strategy for the benefit of our shareholders.”

The results included net income of $143.8 million, or $1.42 per diluted share and operating income of $158.2 million, or $1.56 per diluted share.

Annualised return on average equity was 20.6 per cent and annualised operating return on average equity was 22.7 per cent.

Gross premiums written grew to $831 million, an increase of 16.7 per cent compared to the second quarter of 2025.

Net premiums earned were up to $586 million, an increase of 14.6 per cent compared to the second quarter of 2025.

The combined ratio was 95 per cent and the underwriting income was $29.1 million.

Net investment income was $141.3 million, comprised of Two Sigma Hamilton Fund returns of $115.5 million, and fixed income, short term and cash and cash equivalents returns of $25.8 million.

The company repurchased $22.1 million of common shares in the second quarter.

For the first six months of the year, the company earned net income of $277.3 million, or $2.73 per diluted share with operating income of $324.9 million, or $3.20 per diluted share.

The annualised return on average equity was 19.6 per cent and annualised operating return on average equity was 22.9 per cent.

Gross premiums written grew 13.9 per cent over the same six-month period in 2025 to $1.8 billion.

Net premiums earned were $1.2 billion, an increase of 14.5 per cent compared to the same period in 2025. Combined ratio was 92.5 per cent.

• For more on the second quarter earnings report of Hamilton Insurance, see Related Media

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