Welcome to our dedicated page for White Mountains news (Ticker: WTM), a resource for investors and traders seeking the latest updates and insights on White Mountains stock.
White Mountains Insurance Group, Ltd. (WTM) delivers diversified financial services through insurance, reinsurance, and technology-driven solutions. This page provides investors and stakeholders with essential updates on corporate developments shaping the company’s strategic direction.
Track earnings announcements, acquisition activity, and leadership updates alongside filings related to municipal bond insurance, specialty underwriting programs, and MediaAlpha’s marketing technology innovations. Our curated news collection ensures transparent access to material events affecting WTM’s operations across all business segments.
Discover timely reports on regulatory developments, partnerships, and capital management strategies from Kudu and other divisions. Bookmark this page for efficient monitoring of WTM’s performance in reinsurance markets and financial technology sectors.
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.
RiverNorth Capital Management, an investment manager specializing in opportunistic strategies and closed-end funds, has secured a passive, minority investment from Kudu Investment Management. Founded in 2000, RiverNorth manages $5.2 billion in assets across registered funds, private funds, and separately managed accounts.
The partnership aims to support RiverNorth's growth while maintaining its majority employee ownership and control. This marks Kudu's 27th permanent capital investment, with their partner firms collectively managing approximately $123 billion as of September 30, 2024. The financial terms of the investment were not disclosed.
White Mountains Insurance Group (NYSE: WTM) reported strong Q3 2024 results with book value per share of $1,795 and adjusted book value per share of $1,883. The company saw increases of 4% and 6% respectively in Q3, and 9% and 11% in the first nine months of 2024. Ark achieved a 79% combined ratio and $374 million in gross written premiums, up 49% year-over-year. Comprehensive income attributable to shareholders was $180 million in Q3 and $361 million in the first nine months of 2024. The company maintains approximately $650 million in undeployed capital.
Revelation Partners, a leading healthcare secondaries investment manager, has received a minority investment from Kudu Investment Management. The financial terms were not disclosed. Revelation, based in Sausalito, California, manages over $1.5 billion in committed capital, providing liquidity and growth capital across the private healthcare market.
Revelation remains employee-owned and controlled, with co-founders Mike Boggs and Scott Halsted continuing to lead as managing partners. The partnership with Kudu aims to support Revelation's growth and resource expansion. Kudu, founded in 2015, has invested in 28 asset and wealth managers globally, with partner firms collectively managing approximately $129 billion as of June 30, 2024.
Bamboo Insurance has secured the No. 1,680 spot on the Inc. 5000 2024 list of America's Fastest-Growing Private Companies for the second consecutive year. The company achieved a remarkable three-year revenue growth of 309 percent, demonstrating its ability to navigate challenging economic conditions. Bamboo's success is attributed to its focus on delivering innovative solutions to dislocated insurance markets.
Earlier this year, White Mountains Insurance Group, (NYSE: WTM) made a significant investment in Bamboo, acquiring a 72% stake for $297 million. This investment includes primary capital to support Bamboo's continued growth and expansion in the insurance industry.
