BUZZ-Hamilton Insurance rises after Q3 profit jumps

Reuters
2024-11-07
BUZZ-Hamilton Insurance rises after Q3 profit jumps

** Shares of Hamilton Insurance HG.N rise 1.7% to $18.89 after the bell

** HG's Q3 profit jumps to 74 cents/shr from 41 cents/shr a year earlier, driven by strong underwriting

** Q3 net premiums earned jumped 33.2% to $448.8 mln compared to last year

** Q3 combined ratio rose to 93.6% from 92.6% a year earlier, against the backdrop of Hurricane Helene

** A ratio below 100% means an insurer earned more in premiums than it paid out in claims

** As of last close, HG shares up 24% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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