HG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• Tangible book value per common share plus accumulated dividends$28.57 $27.62

• Change in tangible book value per common share plus accumulated dividends3.4 %

• Book value per common share plus accumulated dividends$29.42 $28.50

• Change in book value per common share plus accumulated dividends3.2 %

• For the three months ended March 31, 2025, TS Hamilton Fund experienced gains in single name equities trading within the equity market neutral vehicles STV, ESTV, and ATV. Gains in single name equities trading were led by the U.S., followed by East Asia. TS Hamilton Fund also experienced gains from …

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• For the three months ended September 30, 2024, losses in TS Hamilton Fund were led by macroeconomic trading in FTV. Within FTV, losses were experienced in equities, currencies, and fixed income. In single name equities trading, TS Hamilton Fund saw positive contributions from non-U.S. equities withi…

• Attritional loss ratio - current year for the three months ended September 30, 2025 was flat at 55.3% compared to 55.3% for the three months ended September 30, 2024.

• Catastrophe losses - current year and prior year were $Nil for the three months ended September 30, 2025. Catastrophe losses - current year and prior year for the three months ended September 30, 2024 were driven by Hurricane Helene ($12.9 million) and Hurricane Debby ($1.5 million), partially offse…

• The acquisition cost ratio for the three months ended September 30, 2025 increased modestly to 26.6%, compared to 26.5% for the three months ended September 30, 2024.

• Other underwriting expenses for the three months ended September 30, 2025 were $41.7 million, an increase of $7.6 million, or 22.1%, compared to $34.1 million for the three months ended September 30, 2024. The increase was primarily driven by an increased headcount, as we continued to build out unde…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• “Item 1A. Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2025 contains a discussion of our known material risk factors. The disclosures below reflect material updates to certain of those risk factors and should be read in conjunction with the risk factor disclosures …

• Large claims or adverse market conditions could require us to liquidate investments at unfavorable times.

• The occurrence of large insurance or reinsurance claims, catastrophic events or other unexpected liquidity demands could require us to liquidate investments at times when market conditions are unfavorable. Such forced asset sales may occur during periods of heightened volatility or reduced liquidity…

• The Investment Agreement governing our investment in the TS Hamilton Fund, which replaced and superseded the prior commitment agreement as of April 1, 2026, includes certain conditions relating to our actions with respect to the fund, including notice periods, withdrawal limits and timing constraint…

• We have significant exposure to, and limited control over, the TS Hamilton Fund, which materially constrains our flexibility and could materially adversely affect our business, financial condition and results of operations.

Text removed vs the prior filing · source: 10-Q · 2025-11-05

• In addition to the other information set forth in this Quarterly Report, you should carefully consider the risk factors discussed in "Risk Factors" in our Form 10-K for the year ended December 31, 2024.