White Mountains Stock Price, News & Analysis

White Mountains Insurance Group (NYSE: WTM) has announced a significant acquisition agreement to purchase a majority stake in Distinguished Programs, a specialty property & casualty insurance MGA and program administrator. The transaction, valued at $230 million, will give White Mountains a 51% controlling interest in Distinguished.

Distinguished Programs currently places over $550 million in premiums annually across 12 specialty property and casualty programs. The company specializes in sectors including commercial real estate, hotels & restaurants, community associations, and cyber insurance. Aquiline Capital Partners will maintain a significant minority stake, while Distinguished's current executive management team will continue leading the business.

The transaction is expected to close in Q3 2025, subject to regulatory approvals and customary closing conditions.

White Mountains Insurance Group (NYSE: WTM) has announced its Annual Investor Information Meeting scheduled for June 6, 2025, at 10:00 a.m. ET. The event will be held at the Mandarin Ballroom of the Mandarin Oriental Hotel in New York and will also be accessible via webcast. CEO Manning Rountree will lead the discussion on the company's operations and outlook, followed by a Q&A session. The company has made available its 2024 Annual Report, Proxy Statement, and Management Report online at www.envisionreports.com/WTM and on their website.

White Mountains Insurance Group (NYSE: WTM) reported a book value per share of $1,752 in Q1 2025, showing a slight increase. Key highlights include: - Ark posted strong results with a 94% combined ratio and $1.1B in gross written premiums (up 27% YoY) - HG Global generated $7M in gross written premiums and grew equity by 3% - Kudu's portfolio fair value grew 4% on a same store basis - Bamboo doubled managed premiums and tripled MGA adjusted EBITDA YoY - MediaAlpha's share price declined 18%, resulting in a $37M mark-to-market loss - Investment portfolio returned 2.3% (excluding MediaAlpha) - Company made new capital deployments into BroadStreet Partners and Enterprise Solutions - Undeployed capital stands at approximately $550M - Comprehensive income was $35M in Q1 2025, down from $236M in Q1 2024

BroadStreet Partners, a leading North American insurance brokerage company, announced that an investor group led by Ethos Capital, along with British Columbia Investment Management (BCI), and White Mountains Insurance Group (WTM), will acquire an ownership position in the company. Ontario Teachers' Pension Plan will maintain a significant co-control stake.

BroadStreet operates through a unique co-ownership model with over 800 colleagues owning equity in their local Core Agencies. The company has presence in all 50 U.S. states and 10 Canadian provinces, focusing on commercial and personal property & casualty and employee benefits. The new partnership aims to support BroadStreet's long-term plans, including technology and digital transformation investments.

Ontario Teachers' acquired a majority stake in BroadStreet in 2012, during which the company has grown to become one of the top private brokerages in North America.

Bamboo Insurance, a subsidiary of White Mountains Insurance Group (NYSE: WTM), and Sutton National have announced the successful renewal of their reinsurance program. The renewal includes two key components:

1. Greengrove Re issued a $100 million catastrophe bond with a 7.75% spread and 1.44% initial base expected loss, maturing April 7th, 2028. The offering exceeded its initial $75 million target by 33%.

2. Greenshoots Re issued $70 million in preference shares for a sidecar transaction backed by institutional investors.

These transactions provide protection against fire and fire following earthquake for California homeowners' business, offering both catastrophe excess of loss and quota share capacity through capital markets. The successful placement, particularly following recent Los Angeles wildfires, demonstrates investor confidence in Bamboo's risk management approach.

White Mountains Partners (WMP), a White Mountains operating company, has acquired a majority stake in Enterprise Solutions, a Nashville-based specialty electrical contracting services provider. Founded in 2003, Enterprise Solutions specializes in designing, engineering, prefabricating, and installing electrical infrastructure for commercial and institutional sectors including healthcare, manufacturing, education, and data centers.

The acquisition marks WMP's inaugural platform company, with Jim Seabury continuing as Chairman and CEO of Enterprise Solutions. The partnership aims to accelerate Enterprise Solutions' growth strategy through geographical expansion, market penetration, and bolt-on acquisitions. This strategic move represents White Mountains' expansion beyond insurance into attractive sectors, aligning with their long-term, value-oriented approach.

Olshan Frome Wolosky LLP served as legal counsel to WMP, while Canaccord Genuity acted as financial advisor and Bradley Arant Boult Cummings LLP as legal counsel to Enterprise Solutions.

White Mountains Insurance Group (WTM) has announced its annual dividend declaration following a Board of Directors meeting held on February 27, 2025. The company will distribute a cash dividend of $1.00 per share to shareholders.

The dividend will be payable on March 26, 2025, to Common Share holders of record as of the close of business on March 17, 2025. White Mountains operates as a Bermuda-domiciled financial services holding company and is traded on both the New York Stock Exchange and the Bermuda Stock Exchange under the symbols WTM and WTM.BH respectively.

White Mountains Insurance Group (NYSE: WTM) reported a 3% decrease in book value per share to $1,746 and adjusted book value per share to $1,834 in Q4 2024. For the full year 2024, both metrics increased by 6% and 8% respectively. The company reported comprehensive loss of $131 million in Q4 2024 compared to income of $288 million in Q4 2023.

Key highlights include:

• Ark produced a 77% combined ratio and $264 million in gross written premiums, up 14% year-over-year
• HG Global generated $18 million in gross written premiums
• MediaAlpha's share price declined 38% in Q4, resulting in a $122 million mark-to-market loss
• Investment returns excluding MediaAlpha were down slightly in Q4 but up 6.5% for the year
• Undeployed capital stands at approximately $700 million

Homestead Capital USA, a farmland-focused asset manager with over $1.6 billion in equity and credit assets, has secured a passive, minority investment from Kudu Investment Management. Founded in 2012, Homestead manages investments for pension plans, endowments, foundations, insurance companies, and family offices through acquiring and managing farmland properties and lending to operators.

The San Francisco-based firm, which remains majority employee-owned and led by co-founders Daniel Little and Gabe Santos, operates across the Pacific, Pacific Northwest, Mountain West, Delta and Midwest regions with 20 employees. They focus on working with small and mid-sized farmers to enhance capacity and profitability.

Kudu Investment Management, founded in 2015, has invested in 30 asset and wealth managers globally, with partner firms collectively managing approximately $128 billion as of September 30, 2024.