What does international - specialty — IBNR mean?

IBNR (Incurred But Not Reported) represents the estimated liability for claims that have occurred but have not yet been formally reported to the insurer. This reserve is critical for ensuring the company maintains adequate capital to cover future obligations arising from the International Specialty segment. It reflects the actuarial assessment of latent risk and the potential for future claim development.

Hamilton Insurance Group, Ltd. (HG) International - Specialty — IBNR

Screener

Other product segments

Bermuda - Casualty

$834.65M+44.7%

International - Casualty

$582.84M+28.8%

Bermuda - Specialty

$239.7M+11.5%

Bermuda - Property

$234.83M+6.9%

International - Property

$82.47M+6.3%

Similar metrics at other companies

CNAInternational — IBNR

$1.91B—

LMNDCar — IBNR

$40.5M+0.7%

LMNDPet — IBNR

$6.2M+67.6%

CNASurety — IBNR

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

SIGIHomeowners — IBNR

$25.31M+8.3%

LMNDProperty Insurance — IBNR

$64.6M+15.8%

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		178,984	44,008	2,911
2024		221,168	114,613	2,939
2025			201,433	1,868
		Total	$393,172	23,408
(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 international - specialty — IBNR?: Hamilton Insurance Group, Ltd. (HG) reported international - specialty — IBNR of $393.17M in Q4 2025.
What does international - specialty — IBNR mean?: IBNR (Incurred But Not Reported) represents the estimated liability for claims that have occurred but have not yet been formally reported to the insurer. This reserve is critical for ensuring the company maintains adequate capital to cover future obligations arising from the International Specialty segment. It reflects the actuarial assessment of latent risk and the potential for future claim development.