Hamilton Insurance Group

Its combined ratio for the quarter improved nearly 30 points, particularly driven by better performance in its Bermuda segment.

As this publication previously reported, the IPO pricing came in under book value but has still narrowed the gap on predecessor Fidelis, listing at 0.9x book value vs Fidelis’ 0.8x.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

Hamilton’s IPO share price came in at the lower end of historical trends observed amongst insurers that have missed their target range upon listing.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The carrier’s $15 per share listing came in below its $16.90 book value per share at the mid-year reporting point, or a 0.9x multiple.

The carrier is offering 15 million Class B common shares, according to a registration statement filed with the SEC.

Investors must weigh a differentiated investment strategy and true specialty opportunity against partial third-party investment control and historical losses.

Karna has previously served as global chief data officer at Axa XL, while Gauthier is the former chief investment officer of Allied World.

The carrier is also pursuing growth in the political violence and US E&S market.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

The carrier intends to list its common shares on the New York Stock Exchange under the ticker symbol “HG”.