AM Best Upgrades Credit Ratings of Hamilton Select Insurance Inc.; Affirms Credit Ratings of Remaining Members of Hamilton Insurance Group, Ltd.

MAY 12, 2026 04:13 PM (EDT)

AM Best Upgrades Credit Ratings of Hamilton Select Insurance Inc.; Affirms Credit Ratings of Remaining Members of Hamilton Insurance Group, Ltd.

CONTACTS:

FOR IMMEDIATE RELEASE

OLDWICK - MAY 12, 2026 04:13 PM (EDT)
AM Best has upgraded the Financial Strength Rating (FSR) to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to "a" (Excellent) from "a-" (Excellent) of Hamilton Select Insurance Inc. (Hamilton Select) (Wilmington, DE). Concurrently. AM Best has affirmed the FSR of A (Excellent) and the Long-Term ICR of "a" (Excellent) of Hamilton Re, Ltd. (Pembroke, Bermuda) and Hamilton Insurance Designated Activity Company (Dublin, Ireland). All companies are wholly owned subsidiaries of Hamilton Insurance Group, Ltd. (collectively referred to as Hamilton). The outlook of these Credit Ratings (ratings) is stable.

Hamilton's ratings reflect the group's balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

The very strong balance sheet strength assessment is supported by Hamilton's strongest level of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR). Recent strategic shifts that have been executed by Hamilton, including a transition toward a more-diversified underwriting portfolio, have helped the group achieve underwriting profitability. Hamilton's balance sheet strength assessment also reflects its relatively high-risk investment strategy on the portion of invested assets managed by Two Sigma Investments, LP, a U.S. Securities and Exchange Commission-registered investment adviser.

The operating performance assessment of adequate is supported by Hamilton's historical investment returns and underwriting results, which have trended favorably over the past five years as the group achieved underwriting profitability in 2023, continuing through the first quarter of 2026. Underwriting improvements have stemmed from the group's diversification efforts and the favorable rate environment, as well as the re-underwriting measures across the business.

The business profile assessment of neutral is supported by Hamilton's continued expansion of its diversified global insurance and reinsurance platform. Risk management capabilities are considered appropriate and in line with the group's risk profile.

The rating upgrades of Hamilton Select are driven by recent enhancements of the explicit support provided by Hamilton, which includes a stop-loss agreement, a 75% quota share reinsurance agreement net of third-party reinsurance, and a material net worth maintenance agreement. The ratings further reflect Hamilton Select's strategic importance to Hamilton, and the parent's common ownership and management, as well as implicit and explicit support. Hamilton Select is a specialty insurer, launched in 2022, focusing on small and middle market U.S. excess and surplus lines accounts. The company has not reported an underwriting profit to date, though it has shown continued underwriting improvement year-over-year on a gross basis.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings (BCR), Best's Performance Assessments (PA), Best's Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.