What is Hamilton Insurance Group, Ltd.'s bermuda - property — IBNR?

Hamilton Insurance Group, Ltd. (HG) reported bermuda - property — IBNR of $234.83M in Q4 2025.

What does bermuda - property — IBNR mean?

This represents the estimated liability for claims that have occurred but have not yet been reported to the insurer as of the balance sheet date for the Bermuda property segment. It is a critical actuarial estimate that reflects the uncertainty and potential future development of the claims portfolio. High levels of IBNR relative to premiums may indicate conservative reserving practices or an increase in long-tail risk exposure.

Hamilton Insurance Group, Ltd. (HG) Bermuda - Property — IBNR

Screener

Other product segments

Bermuda - Casualty

$834.65M+44.7%

International - Casualty

$582.84M+28.8%

International - Specialty

$393.17M+27.2%

Bermuda - Specialty

$239.7M+11.5%

International - Property

$82.47M+6.3%

Similar metrics at other companies

LMNDProperty Insurance — IBNR

$64.6M+15.8%

HIPOProperty Lines — IBNR

$69.6M—

SIGICommercial property — IBNR

$53.81M-16.7%

LMNDCar — IBNR

$40.5M+0.7%

LMNDPet — IBNR

$6.2M+67.6%

CNASurety — IBNR

45,600,000,000%+2,900,000,000pp

Other financials

Income statement

See full

Revenue$839.6M+13.3%

Net income$254.8M-4.8%

EPS (diluted)$1.42-20.7%

Balance sheet

See full

Cash & equivalents$829.0M-22.6%

Total debt$149.8M+0.1%

Total equity$2.9B+11.4%

Total assets$10.3B+15.2%

Cash flow

See full

Operating cash flow$125.3M-42.6%

Valuation

See full

Market cap$3.53B+59.4%

Enterprise value$2.85B+121%

P/E4.1×+0.3×

P/S1.2×+0.3×

Profitability

See full

Net margin28.8%+6.3pp

Returns & leverage

See full

Return on equity31.9%+7.5pp

Debt / equity0.1×0.0×

Where this comes from

Reported directly by Hamilton Insurance Group, Ltd. in its filing.

Tagged under the XBRL concept us-gaap:ShortdurationInsuranceContractsIncurredButNotReportedIbnrClaimsLiabilityNet.

The source filing: Hamilton Insurance Group, Ltd.’s 10-K, filed February 25, 2026.

Filed: Feb 25, 2026, 4:19 PM EST
Fiscal year: FY2025
Accession: 0001593275-26-000021

Line item	Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance / For the years ended / November 30,	Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance / For the years ended / December 31,	As of December 31, 2025 / IBNR (1)	As of December 31, 2025 / Cumulative Number of Reported Claims
2023		100,047	24,258	79
2024		168,850	82,296	113
2025			104,470	106
		Total	$234,826	1,791
(1)	Total of incurred but not reported liabilities plus expected development on reported claims
	Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
	For the years ended
	November 30,	December 31,

Item 16. Form 10-K Summary

FAQ

What is Hamilton Insurance Group, Ltd.'s bermuda - property — IBNR?: Hamilton Insurance Group, Ltd. (HG) reported bermuda - property — IBNR of $234.83M in Q4 2025.
What does bermuda - property — IBNR mean?: This represents the estimated liability for claims that have occurred but have not yet been reported to the insurer as of the balance sheet date for the Bermuda property segment. It is a critical actuarial estimate that reflects the uncertainty and potential future development of the claims portfolio. High levels of IBNR relative to premiums may indicate conservative reserving practices or an increase in long-tail risk exposure.