Hamilton Insurance Group Ltd. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 1.01 - Entry Into a Material Definitive Agreement
On October 28, 2024, Hamilton Re, Ltd., as Borrower, Hamilton Corporate Member Limited ("HCML"), as Applicant, Hamilton Insurance Group, Ltd., as Guarantor, and Barclays Bank PLC, ING Bank N.V., London Branch, and Bank of Montreal, London Branch, as Lenders, entered into the Amendment and Restatement Agreement (the “Amendment”) to the Letter of Credit Facility Agreement dated November 7, 2019, as amended (the “Agreement”), amending the existing $230 million unsecured letter of credit facility agreement for an additional one year term that expires on October 28, 2025. The Agreement is utilized to provide Funds at Lloyd's ("FAL") to support the FAL requirements of Lloyd’s Syndicate 4000. Pursuant to the Amendment, a $230 million unsecured letter of credit which was previously issued to HCML was amended effective as of November 6, 2024 and will expire on December 31, 2028. The facility bears a fee of 162.5 basis points per annum on issued letters of credit. All undefined terms herein have their respective meanings as set forth in the Amendment.
The foregoing summary of the Amendment is not complete and is qualified in its entirety by reference to the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 2.03 - Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
The information set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.
Item 9.01 - Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
| Exhibit No. | Description | |||||||
| 10.1 | ||||||||
| 101 | Pursuant to Rule 406 of Regulation S-T, the cover page information is formatted in Inline XBRL. | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: October 29, 2024 | HAMILTON INSURANCE GROUP, LTD. | |||||||
| By: | /s/ Gemma Carreiro | |||||||
| Gemma Carreiro | ||||||||
| Group General Counsel | ||||||||