Filing Flows › Hamilton Insurance Group (HG) › Q4 2025
Hamilton Insurance Group (HG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 25, 2026
Hamilton Insurance Group (HG) reported revenue of $728M for the fourth quarter 2025 (Q4 2025), +28% from a year earlier and +9% from the quarter before. Operating margin was 26.0%, net earnings $215M (29.5% of revenue).
Hamilton Insurance Group, Q4 2025: revenue $728M (+28% year over year), operating margin 26.0%, net earnings $215M, operating cash flow $293M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $728M | +9% | +28% |
| Operating profit | $190M | +5% | +147% |
| Net earnings | $215M | +22% | +188% |
| Operating cash flow | $293M | -0.7% | +3% |
What changed
Revenue was $728.3M in Q4 2025, up 28% year over year and up 9% from the previous quarter.
Operating profit was $189.7M, a 26.0% margin (up 12.6 points year over year). Of the extra revenue versus a year earlier, 72% reached operating profit, above the 13% margin then. Total costs grew 9% against revenue growth of 28%. The fastest-growing cost line was Other operating costs (+15%). Net earnings were $214.6M, up 188% year over year. The effective tax rate was -13.1%.
Operating cash flow was $293.4M (up 3% year over year), 137% of net earnings. Non-cash charges added back $2.9M of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items added $67.8M.
Questions
What was Hamilton Insurance Group's revenue in the fourth quarter 2025?
Hamilton Insurance Group (HG) reported revenue of $728M for the fourth quarter 2025 (Q4 2025), +28% from a year earlier and +9% from the quarter before.
Was Hamilton Insurance Group profitable in the fourth quarter 2025?
Operating profit was $190M (26.0% of revenue) and net earnings $215M.