Form 4: Hamilton Insurance Counsel's Equity Boost

Hamilton Insurance Group's Group General Counsel, Gemma Carreiro, acquired 22,448 Class B Common Shares following a 200% target payout on performance stock units.

Summary

• Gemma Carreiro, Group General Counsel of Hamilton Insurance Group, Ltd. (HG), acquired 22,448 Class B Common Shares.
• The acquisition occurred on February 24, 2026, and was a result of the certification of performance criteria for previously granted Performance Stock Units (PSUs).
• The PSUs were earned based on HG's annualized underwriting return on capital over a 3-year performance period ending December 31, 2025.
• HG achieved an annualized underwriting return on capital of 8.6% for this period.
• This performance resulted in a payout at 200% of the target for the PSUs.
• Following this transaction, Ms. Carreiro beneficially owns 173,855 shares, which includes restricted stock units.

Sentiment

Score: 8

Explanation: StockSavvy.ai views this as a strong positive signal, reflecting excellent operational performance and effective executive incentive alignment, which typically bodes well for investor confidence.

Positives

• Hamilton Insurance Group achieved an annualized underwriting return on capital of 8.6% for the 3-year period ending December 31, 2025.
• This strong performance led to a 200% payout of target for performance stock units, indicating excellent execution against internal metrics.
• The vesting of PSUs aligns management incentives with shareholder value creation.

Future Outlook

The filing indicates successful achievement of long-term performance targets, specifically the annualized underwriting return on capital for the 3-year period ending December 31, 2025, which resulted in a maximum payout for executive performance stock units.

Management Comments

• HG confirmed the annualized underwriting return on capital for the 3-year performance period ending December 31, 2025, was 8.6%, resulting in a performance payout at 200% of target.

Industry Context

StockSavvy.ai notes that a 200% target payout for performance stock units, driven by an 8.6% annualized underwriting return on capital over three years, suggests strong operational performance within the insurance sector. This level of achievement can signal effective risk management and profitable underwriting strategies, potentially positioning Hamilton Insurance Group favorably against peers in a competitive market.

Comparison to Industry Standards

• StockSavvy.ai observes that an 8.6% annualized underwriting return on capital over a three-year period is a robust performance metric within the property and casualty insurance industry. While direct comparisons require detailed financial statements from competitors, this figure generally indicates strong underwriting discipline. For instance, top-tier global reinsurers often aim for combined ratios below 90%, which translates to healthy underwriting profits. A 200% payout on PSUs suggests Hamilton's internal targets were either conservative or significantly exceeded, reflecting superior execution compared to average industry performance.

Stakeholder Impact

• Shareholders: Positive impact due to strong company performance leading to executive compensation, aligning management incentives with shareholder interests.
• Employees: Positive for the reporting person, potentially signaling a healthy performance culture.

Key Dates

Recommendation

The filing indicates exceptional performance by Hamilton Insurance Group, achieving a 200% payout on executive performance stock units due to an 8.6% annualized underwriting return on capital over three years. This strong operational execution and alignment of management incentives with shareholder value creation are highly positive indicators for future profitability and stock performance, suggesting a 'buy' recommendation for seasoned investors.

Keywords

Hamilton Insurance Group, HG, Form 4, Insider Trading, Beneficial Ownership, Performance Stock Units, PSUs, Equity Incentive Plan, Underwriting Return on Capital, Executive Compensation, Gemma Carreiro