Bermuda-based insurer and reinsurer Hamilton Insurance Group, Ltd. has submitted a draft registration statement on Form S-1 with the US Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of its common shares.
Hamilton states that the IPO is subject to market and other conditions and also the completion of the SEC’s review process.
Details surrounding the number of common shares to be offered and the price range for the proposed offering have not yet been determined.
It was reported in early June that the Bermudian was discussing its options with potential advisers, including a private sale and an IPO.
At this time, according to Reuters, the re/insurer was said to have been exploring strategic options amid momentum for deals involving insurers and reinsurers.
The same Reuters report claimed that a transaction could value the company at more than $2 billion, with the firm reporting a book value of almost $1.7 billion at the end of December 2022.
