Justin [Analyst]'s questions to Hamilton Insurance Group Ltd (HG) leadership • Q3 2024
Question
Justin, on behalf of Alex, inquired about the drivers of favorable reserve development, specifically the unfavorable casualty component, and the reasons behind the increased gross premium retention in the quarter.
Answer
Group CFO Craig Howie clarified that the unfavorable casualty development stemmed from new information on a single large loss from Q4 2023. Group CEO Pina Albo explained that higher premium retention was a deliberate strategy to deploy capital raised during the IPO. She added that the A.M. Best rating upgrade was a significant driver for new business and increased line sizes, projecting a 15-20% premium uplift on a run-rate basis for the reinsurance operations.