Welcome to our dedicated page for White Mountains Insurance Group Ltd. news (Ticker: WTM), a resource for investors and traders seeking the latest updates and insights on White Mountains Insurance Group Ltd. stock.
White Mountains Insurance Group Ltd. (NYSE: WTM) offers comprehensive insurance services across diverse sectors in the United States through its subsidiaries. The company operates through four main segments:
- HG Global/BAM: Provides insurance on municipal bonds issued for public purposes such as schools, utilities, and transportation facilities, including reinsurance protection services.
- NSM: Functions as a general underwriting agency and program administrator for specialty property and casualty insurance, catering to sectors like specialty transportation, social services, and real estate.
- MediaAlpha: Operates a marketing technology platform that enables programmatic buying and selling of performance-based media across various verticals through cost-per-click, cost-per-call, and cost-per-lead pricing models.
- Kudu: Offers capital solutions to asset managers and registered investment advisors, enhancing their operational capabilities.
White Mountains is engaged in acquiring opportunistic and value-oriented businesses and assets in the insurance, financial services, and related sectors. Recent achievements include reporting increases in its book value per share and adjusted book value per share, as well as significant gains from investments such as MediaAlpha.
Additionally, the company has expanded its portfolio with strategic acquisitions including Bamboo, an insurance distribution platform focused on the California homeowners' insurance market. The acquisition and efficient management of its diverse subsidiaries underscore White Mountains' robust financial condition and strategic growth trajectory.
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White Mountains Insurance Group, Ltd. (WTM) announces a $1.00 per share annual dividend for Common Shareholders, payable on March 20, 2024.
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White Mountains Insurance Group, Ltd. appoints Reid T. Campbell as a director after his retirement as President, acknowledging his significant contributions to the company over thirty years.
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White Mountains Partners welcomes Zack Mattler as Principal, bringing extensive experience in deal execution and team development. The company aims to be a patient and flexible capital partner to family, founder, and entrepreneur-owned businesses in various sectors.
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White Mountains Insurance Group, Ltd. (NYSE: WTM) reported strong financial performance in the fourth quarter of 2023, with a 7% increase in book value per share. The company's total comprehensive income attributable to common shareholders was $288 million in the fourth quarter and $511 million for the year ended December 31, 2023. The company's investment portfolio saw a significant increase, and it redeployed $130 million into Outrigger Re for the coming year. The company's Other Operations reported pre-tax income of $94 million and $113 million in the fourth quarter and year ended December 31, 2023 compared to $(8) million and $(198) million in the fourth quarter and year ended December 31, 2022.
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White Mountains Insurance Group, Ltd. (NYSE: WTM) has announced the renewal of Outrigger Re Ltd. for business incepted during calendar year 2024. Outrigger has received $250 million of total investor capital for January 1, including $130 million from White Mountains. The remaining capital was provided by new and continuing third-party investors. The renewal is on similar terms as were in effect for calendar year 2023. Outrigger, a reinsurance sidecar, has again entered into a quota share with Ark to provide collateralized reinsurance protection on a portion of Ark Bermuda's global property catastrophe portfolio beginning on January 1, 2024.
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Sage Advisory Services, Ltd. (Sage) and Kudu Investment Management, LLC (Kudu) have announced that Kudu has made a minority investment in Sage. Sage, based in Austin, Texas, manages fixed income and global asset allocation strategies with over $23 billion in client assets under management and advisement. Kudu, a provider of permanent capital solutions to independent asset and wealth managers, has made investments in 26 asset and wealth managers worldwide.
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White Mountains Insurance Group, Ltd. reported a 1% increase in book value per share and adjusted book value per share in Q3 2023. The company's comprehensive income attributable to common shareholders was $23 million in Q3 2023 compared to $890 million in Q3 2022. BAM's gross written premiums and member surplus contributions decreased in Q3 2023 compared to Q3 2022. Ark/WM Outrigger reported a combined ratio of 77% in Q3 2023. Kudu's total revenues and pre-tax income decreased in Q3 2023 compared to Q3 2022. White Mountains did not repurchase any of its common shares in Q3 2023.
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White Mountains Insurance Group has launched a new business unit called WM Partners, which will provide capital to family, founder, and entrepreneur-owned businesses. John J. Daly, former founding member and principal of Alleghany Capital, has been appointed as CEO and Managing Partner of WM Partners. The business aims to establish majority positions in companies with $10 to $50 million of EBITDA and plans to deploy up to $500 million of equity capital over time.
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White Mountains Insurance Group to acquire majority stake in Bamboo Ide8 Insurance Services
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White Mountains Insurance Group, Ltd. (NYSE: WTM) reported a book value per share of $1,532 and adjusted book value per share of $1,576 as of June 30, 2023. Both book value per share and adjusted book value per share increased 1% in the second quarter of 2023 and 5% and 6% in the first six months ended June 30, 2023, including dividends. Comprehensive income attributable to common shareholders was $21 million and $201 million in the second quarter and first six months of 2023 compared to $(174) million and $(143) million in the second quarter and first six months of 2022. The Ark/WM Outrigger segment's combined ratio was 87% and 89% in the second quarter and first six months of 2023. Kudu reported total revenues of $19 million, pre-tax income of $10 million, and adjusted EBITDA of $12 million in the second quarter of 2023 compared to total revenues of $(4) million, pre-tax loss of $10 million, and adjusted EBITDA of $11 million in the second quarter of 2022.
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FAQ
What is the current stock price of White Mountains Insurance Group Ltd. (WTM)?
The current stock price of White Mountains Insurance Group Ltd. (WTM) is $1897.74 as of November 18, 2024.
What is the market cap of White Mountains Insurance Group Ltd. (WTM)?
The market cap of White Mountains Insurance Group Ltd. (WTM) is approximately 4.9B.
What are the primary business segments of White Mountains Insurance Group Ltd.?
White Mountains operates through four main segments: HG Global/BAM, NSM, MediaAlpha, and Kudu.
What services does the HG Global/BAM segment provide?
The HG Global/BAM segment offers insurance on municipal bonds for public purposes and reinsurance protection services.
What is the focus of the NSM segment?
The NSM segment focuses on specialty property and casualty insurance, acting as a general underwriting agency and program administrator for sectors like specialty transportation, social services, and real estate.
What does MediaAlpha specialize in?
MediaAlpha operates a marketing technology platform that facilitates programmatic buying and selling of performance-based media through various pricing models.
What capital solutions does the Kudu segment provide?
The Kudu segment offers capital solutions to asset managers and registered investment advisors to enhance their operational capabilities.
What recent acquisitions has White Mountains made?
White Mountains recently acquired Bamboo, an insurance distribution platform focused on the California homeowners' insurance market.
How has White Mountains' financial performance been recently?
White Mountains reported increases in both its book value per share and adjusted book value per share, along with significant gains from its investments, notably MediaAlpha.
What is the significance of the MediaAlpha platform?
MediaAlpha's platform enables programmatic buying and selling of performance-based media, significantly contributing to White Mountains' diversified revenue streams.
What is White Mountains’ strategy for growth?
White Mountains focuses on acquiring value-oriented businesses and assets in the insurance and financial services sectors, enhancing growth through strategic management and investments.
Where is White Mountains Insurance Group Ltd. domiciled?
White Mountains is domiciled in Bermuda and trades on both the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM.
White Mountains Insurance Group Ltd.
NYSE:WTM
WTM Rankings
WTM Stock Data
4.93B
2.57M
3.11%
91.5%
1.63%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
United States of America
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