PEMBROKE, Bermuda - Hamilton Insurance Group, Ltd. (NYSE: HG), a global insurance and reinsurance provider, announced today the appointment of Athena Tolosa as the new Chief Financial Officer of Hamilton Re, its Bermuda-based underwriting platform. Tolosa succeeds Chad Cundliffe, who has retired after more than nine years with the company.
Tolosa, who has over 18 years of experience in the reinsurance industry, joins Hamilton from RenaissanceRe (NYSE:RNR), where she most recently served as Senior Vice President, Head of Finance - Reinsurance. Her career also includes significant roles at Tokio Millenium Re and professional stints with EY in Bermuda and PwC in the Philippines. She is a Certified Public Accountant.
Hamilton Re CEO Megan Thomas welcomed Tolosa, praising her financial expertise and industry track record. "Athena's appointment is an excellent addition to Hamilton and I look forward to working closely with her," Thomas stated. Brian Deegan, Group Chief Accounting Officer, echoed these sentiments, expressing confidence in Tolosa's ability to lead within the global finance team.
The leadership transition comes as Cundliffe decides to return to Canada with his family. The company expressed gratitude for his contributions and wished him well in his future endeavors.
Hamilton Insurance Group operates three underwriting platforms: Hamilton Global Specialty, Hamilton Select, and Hamilton Re. These platforms enable the company to offer specialty insurance and reinsurance risks on a global scale.
The announcement is based on a press release statement.
InvestingPro Insights
As Hamilton Insurance Group, Ltd. (NYSE: HG) welcomes Athena Tolosa as the new CFO of Hamilton Re, the company's financial strength and market position become focal points of interest for investors and industry observers alike. With a solid background in reinsurance finance, Tolosa's leadership is expected to align with Hamilton's current financial trajectory.
InvestingPro data highlights Hamilton Insurance Group's robust financial performance, with a market capitalization of $1.52 billion USD and a striking revenue growth in the last twelve months as of Q4 2023 at 28.56%. The company's gross profit margin stands at a healthy 35.09%, reflecting efficient operations and strong underwriting results.
InvestingPro Tips further reveal that Hamilton Insurance Group is trading at a low earnings multiple, with a P/E ratio of 5.33 and an adjusted P/E ratio of 5.88 for the last twelve months as of Q4 2023. This could suggest that the stock is undervalued compared to its earnings potential. Moreover, the company's liquid assets exceed its short-term obligations, indicating a comfortable liquidity position which is crucial for the insurance industry's cyclical nature.
For those seeking deeper insights, there are additional InvestingPro Tips available on the platform, including analyst predictions that the company will be profitable this year and is already profitable over the last twelve months. It's worth noting that Hamilton Insurance Group does not pay a dividend, which can be an important consideration for income-focused investors.
To explore these insights further and gain access to more detailed financial analysis, investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. With these tools, stakeholders can make more informed decisions as they watch how Athena Tolosa's tenure as CFO unfolds and contributes to Hamilton Insurance Group's ongoing success.
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