HAMILTON INSURANCE GROUP, LTD., DEF 14A filed on 3/24/2026
Proxy Statement (definitive)
v3.26.1
Cover
 12 Months Ended
Dec. 31, 2025
Document Information [Line Items]  
Document Type DEF 14A
Amendment Flag false
Entity Information [Line Items]  
Entity Registrant Name HAMILTON INSURANCE GROUP, LTD.
Entity Central Index Key 0001593275
v3.26.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Pay vs Performance Disclosure      
Pay vs Performance Disclosure, Table
Year
Summary
Compensation
Table Total for
PEO(1) ($)
Compensation
Actually Paid to
PEO(1),(2),(3) ($)
Average
Summary
Compensation
Table Total for
Non-PEO NEOs(1)($)
Average Compensation
Actually Paid to
Non-PEO NEOs(1)(2)(3) ($)
Value of Initial Fixed $100 Investment based on:(4)
Net
Income
($ Millions)
Combined Ratio (%)(5)
TSR ($)
Peer Group TSR ($)
20258,976,00024,792,8182,909,0505,422,742186.00152.7857792.9 %
2024
8,645,00017,224,4502,751,6834,461,080
126.87
138.79
400
91.3%
2023
12,791,46815,585,9982,851,8093,489,754
99.67
102.44
280
90.1%
    
Company Selected Measure Name Combined Ratio    
Named Executive Officers, Footnote Non-PEOs included in the above compensation columns reflect the following:
Fiscal Year
PEO
Non-PEOs
2025
Giuseppina (Pina) Albo
Craig Howie; Megan Graves; Adrian Daws; Gemma Carreiro; Alex Baker
2024
Giuseppina (Pina) Albo
Craig Howie; Megan Graves; Adrian Daws; Gemma Carreiro
2023
Giuseppina (Pina) Albo
Craig Howie; Megan Graves; Adrian Daws; Gemma Carreiro
    
Peer Group Issuers, Footnote The Peer Group TSR set forth in this table utilizes the S&P 500 Property & Casualty Insurance Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended December 31, 2025. The comparison assumes $100 was invested for the period starting November 10, 2023 and ending on December 31, 2025 in the Company and in the S&P 500 Property & Casualty Insurance Index, respectively, including reinvestment of dividends. Historical stock performance is not necessarily indicative of future stock performance. .    
PEO Total Compensation Amount $ 8,976,000 $ 8,645,000 $ 12,791,468
PEO Actually Paid Compensation Amount $ 24,792,818 17,224,450 15,585,998
Adjustment To PEO Compensation, Footnote Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards columns set forth in the Summary Compensation Table. The fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (1) for time-based vesting RSU awards, closing price on the applicable year-end date, or, in the case of vesting dates, the closing price on the applicable vesting dates, (2) for performance-based RSU awards (excluding awards with market-based vesting conditions), the same valuation methodology as RSU awards above except year-end values are multiplied by the probability of achievement as of each such date, (3) for awards with market-based vesting conditions, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end date(s) and (4) VAP, which are valued the same as other time-based RSU awards, Compensation Actually Paid to our PEO and the average Compensation Actually Paid to non-PEOs reflects the following adjustments from the compensation reported in the “Total” column of the Summary Compensation Table:
Fiscal 2025
PEO
Average Non-PEO
Total Reported in Summary Compensation Table
8,976,0002,909,050
Less, value of equity awards reported in Summary Compensation Table
(3,900,000)(891,969)
Plus, year-end value of awards granted in fiscal year that are unvested and outstanding at the end of the fiscal year
8,865,5882,027,699
Plus, change in fair value of prior year awards that are unvested and outstanding at end of fiscal year
9,813,2621,131,789
Plus, fair value of awards granted in fiscal year and that vested in this fiscal year
00
Plus, change in fair value of prior year awards that vested in this fiscal year1,037,968246,174
Less, fair value of prior year awards that failed to vest this fiscal year00
Total Adjustments
15,816,8182,513,693
Compensation Actually Paid
24,792,8185,422,742
    
Non-PEO NEO Average Total Compensation Amount $ 2,909,050 2,751,683 2,851,809
Non-PEO NEO Average Compensation Actually Paid Amount $ 5,422,742 4,461,080 3,489,754
Adjustment to Non-PEO NEO Compensation Footnote Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards column are the amounts from the Stock Awards columns set forth in the Summary Compensation Table. The fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (1) for time-based vesting RSU awards, closing price on the applicable year-end date, or, in the case of vesting dates, the closing price on the applicable vesting dates, (2) for performance-based RSU awards (excluding awards with market-based vesting conditions), the same valuation methodology as RSU awards above except year-end values are multiplied by the probability of achievement as of each such date, (3) for awards with market-based vesting conditions, the fair value calculated by a Monte Carlo simulation model as of the applicable year-end date(s) and (4) VAP, which are valued the same as other time-based RSU awards, Compensation Actually Paid to our PEO and the average Compensation Actually Paid to non-PEOs reflects the following adjustments from the compensation reported in the “Total” column of the Summary Compensation Table:
Fiscal 2025
PEO
Average Non-PEO
Total Reported in Summary Compensation Table
8,976,0002,909,050
Less, value of equity awards reported in Summary Compensation Table
(3,900,000)(891,969)
Plus, year-end value of awards granted in fiscal year that are unvested and outstanding at the end of the fiscal year
8,865,5882,027,699
Plus, change in fair value of prior year awards that are unvested and outstanding at end of fiscal year
9,813,2621,131,789
Plus, fair value of awards granted in fiscal year and that vested in this fiscal year
00
Plus, change in fair value of prior year awards that vested in this fiscal year1,037,968246,174
Less, fair value of prior year awards that failed to vest this fiscal year00
Total Adjustments
15,816,8182,513,693
Compensation Actually Paid
24,792,8185,422,742
    
Compensation Actually Paid vs. Total Shareholder Return
The following chart sets forth the relationship between compensation actually paid to our PEO, the average of compensation actually paid to our Non-PEOs, and the Company’s cumulative total shareholder return ("TSR") over the three most recently completed fiscal years and the S&P 500 Property & Casualty Insurance Index TSR over the same period.

graph-TSR.jpg
    
Compensation Actually Paid vs. Net Income
The following chart sets forth the relationship between compensation actually paid to our PEO, the average of compensation actually paid to our Non-PEOs, and our net income during the three most recently completed fiscal years.

graph-NE.jpg
    
Compensation Actually Paid vs. Company Selected Measure
The following chart sets forth the relationship between compensation actually paid to our PEO, the average of compensation actually paid to our Non-PEOs, and our combined ratio during the three most recently completed fiscal years.


graph-CR.jpg
    
Total Shareholder Return Vs Peer Group
The following chart sets forth the relationship between compensation actually paid to our PEO, the average of compensation actually paid to our Non-PEOs, and the Company’s cumulative total shareholder return ("TSR") over the three most recently completed fiscal years and the S&P 500 Property & Casualty Insurance Index TSR over the same period.

graph-TSR.jpg
    
Tabular List, Table
Most Important Performance Measures for Fiscal 2025
Combined Ratio
Underwriting Return on Capital
Strategic Growth
Technology Enablement
Magnet for Talent
    
Total Shareholder Return Amount $ 186.00 126.87 99.67
Peer Group Total Shareholder Return Amount 152.78 138.79 102.44
Net Income (Loss) $ 577,000,000,000,000 $ 400,000,000,000,000 $ 280,000,000,000,000
Company Selected Measure Amount 0.929 91.3 90.1
PEO Name Giuseppina (Pina) Albo Giuseppina (Pina) Albo Giuseppina (Pina) Albo
Additional 402(v) Disclosure The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized or received by the Company's NEOs. These amounts reflect the Summary Compensation Table Total with certain adjustments as described in footnote 3 below.    
Measure:: 1      
Pay vs Performance Disclosure      
Name Combined Ratio    
Non-GAAP Measure Description We determined Combined Ratio to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2025. Please refer to the section of this proxy statement titled "Financial Measure (60%)" section for an explanation of Combined Ratio. This performance measure may not have been the most important financial performance measure in prior years and we may determine a different financial performance measure to be the most important financial performance measure in future years.    
Measure:: 2      
Pay vs Performance Disclosure      
Name Underwriting Return on Capital    
Measure:: 3      
Pay vs Performance Disclosure      
Name Strategic Growth    
Measure:: 4      
Pay vs Performance Disclosure      
Name Technology Enablement    
Measure:: 5      
Pay vs Performance Disclosure      
Name Magnet for Talent    
PEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 15,816,818    
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (3,900,000)    
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 8,865,588    
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 9,813,262    
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,037,968    
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Non-PEO NEO | Equity Awards Adjustments      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,513,693    
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount (891,969)    
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 2,027,699    
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 1,131,789    
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 0    
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount 246,174    
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year      
Pay vs Performance Disclosure      
Adjustment to Compensation, Amount $ 0    
v3.26.1
Award Timing Disclosure
 12 Months Ended
Dec. 31, 2025
Award Timing Disclosures [Line Items]  
Award Timing MNPI Disclosure We typically grant our annual equity awards following the Compensation and Personnel Committee's fourth quarter meeting (held in the first quarter of the following fiscal year). We do not currently grant stock options or similar stock appreciation rights as part of our equity compensation program. Accordingly, during fiscal year ended December 31, 2025, (i) none of our NEOs were awarded stock options with an effective date during any period beginning four business days before the filing or furnishing of a Form 10-Q, Form 10-K, or Form 8-K that disclosed material nonpublic information, and ending one business day after the filing or furnishing of such reports, and (ii) we did not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. If stock options are granted in the future, the Company would aim to avoid granting such options in anticipation of releasing material nonpublic information that is likely to result in changes to the price of our common stock.
Award Timing Method we did not time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation
Award Timing Predetermined true
Award Timing MNPI Considered true
Award Timing, How MNPI Considered We do not currently grant stock options or similar stock appreciation rights as part of our equity compensation program.
MNPI Disclosure Timed for Compensation Value false