KBRA has affirmed the BBB+ issuer rating of Hamilton Insurance Group Ltd (Hamilton Group), a Bermuda-based holding company, and the A insurance financial strength rating of Hamilton Re Ltd, Hamilton Group’s lead operating company.

The outlook for the ratings has been changed from stable to positive.

The positive outlook reflects continued improvement in the attritional loss ratio as well as the successful integration of the Hamilton Managing Agency (formerly Pembroke Managing Agency) and Hamilton Insurance DAC (formerly Ironshore Europe DAC) acquisitions.

The positive outlook also reflects the further buildout of the management team and enhancements to the group’s risk management and technology platforms to improve analytics and decision-making.

KBRA says it expects the group to maintain sound capitalisation and sustained profitability while continuing to prudently execute its business plan.