Company research
WHITE MOUNTAINS INSURANCE GROUP LTD
CIK 776867Updated Sep 27, 2026
SecurityWTM · NYSE · equity
Name history
WHITE MOUNTAINS INSURANCE GROUP INC · through Oct 20, 1999FUND AMERICAN ENTERPRISES HOLDINGS INC · through Feb 10, 1999
WTM price & chart
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NYSE:WTM on TradingView ↗About the company
White Mountains Partners is a wholly-owned business unit of White Mountains Insurance Group, Ltd. (NYSE: WTM) and provides first institutional capital to family, founder, and entrepreneur-owned businesses in the essential services, light industrial and specialty consumer sectors. Additional information is available on White Mountains Partners’ website located at www.wtmpartners.com.
In the news
WHITE MOUNTAINS REPORTS SECOND QUARTER RESULTS ↗
Recent filings
4 filing
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Items 5.02, 9.01
N-PX filing
13F-HR filing
10-Q filing
Show 5 more recent filings
Results of Operations and Financial Condition
Items 2.02, 9.01
11-K filing
Regulation FD Disclosure
Items 7.01, 9.01
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · Submission of Matters to a Vote of Security Holders
Items 5.02, 5.07, 9.01
Entry into a Material Definitive Agreement · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.01, 2.03, 9.01
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 12,306,500,000Source | 9,925,600,000Source | 8,385,900,000Source | 7,389,300,000Source |
| GoodwillUSD | 614,100,000Source | 439,200,000Source | 168,800,000Source | 176,500,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 406,100,000Source | 281,100,000Source | 201,800,000Source | — |
| Operating Lease, Right-of-Use AssetUSD | 51,200,000Source | 32,600,000Source | 20,300,000Source | 25,200,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 6,051,400,000Source | 4,794,600,000Source | 3,824,300,000Source | 3,454,300,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 2,500,000Source | 2,600,000Source | 2,600,000Source | 2,600,000Source |
| Additional Paid in CapitalUSD | 576,500,000Source | 563,800,000Source | 548,700,000Source | — |
| Retained Earnings (Accumulated Deficit)USD | 4,845,600,000Source | 3,919,000,000Source | 3,690,800,000Source | 3,211,800,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | — | — | -1,600,000Source | -3,500,000Source |
| Stockholders' Equity Attributable to ParentUSD | 5,425,400,000Source | 4,483,700,000Source | 4,240,500,000Source | 3,746,900,000Source |
| Additional Paid in Capital, Common StockUSD | — | — | — | 536,000,000Source |
| Liabilities and EquityUSD | 12,306,500,000Source | 9,925,600,000Source | 8,385,900,000Source | 7,389,300,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 698,200,000Source | 647,300,000Source | 321,100,000Source | 188,100,000Source |
| Additional Financial Items | ||||
| Deferred Tax Liabilities, NetUSD | 159,600,000Source | 50,200,000Source | 40,700,000Source | 87,800,000Source |
| Long-term DebtUSD | 837,000,000Source | 562,500,000Source | 564,600,000Source | 575,200,000Source |
| Redeemable Noncontrolling Interest, Equity, Carrying AmountUSD | 131,500,000Source | — | — | — |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | 1,201,800,000Source | 284,100,000Source | 580,900,000Source | 712,400,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | — | — | — | 4,300,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 18,500,000Source | 16,300,000Source | 15,300,000Source | — |
| Deferred Income Tax Expense (Benefit)USD | 92,100,000Source | 11,100,000Source | -46,900,000Source | 12,900,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 550,500,000Source | 586,800,000Source | 404,100,000Source | 365,000,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 349,500,000Source | 231,800,000Source | 0Source | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -666,900,000Source | -447,000,000Source | -543,900,000Source | 115,500,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | 100,000Source | -9,100,000Source | 3,400,000Source | 4,400,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 202,600,000Source | 7,900,000Source | 32,700,000Source | 615,800,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 35,600,000Source | 4,200,000Source | 7,200,000Source | -344,900,000Source |
| Payments of Ordinary Dividends, Common StockUSD | 2,600,000Source | 2,500,000Source | 2,600,000Source | 3,000,000Source |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | 27,600,000Source | 10,200,000Source | -400,000Source | -1,600,000Source |
| Repayments of Long-term DebtUSD | 17,500,000Source | 38,100,000Source | 25,700,000Source | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | 107,300,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 185,600,000Source | 266,400,000Source | 122,400,000Source | 255,000,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Income Taxes Paid, NetUSD | 30,700,000Source | 34,300,000Source | 42,700,000Source | 10,300,000Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 28,400,000Source | 22,000,000Source | 7,200,000Source | 5,200,000Source |
| Deconsolidation, Gain (Loss), AmountUSD | 0Source | -114,500,000Source | — | — |
| Deferred Other Tax Expense (Benefit)USD | — | -68,000,000Source | -68,000,000Source | — |
| Deferred Policy Acquisition Costs, Amortization ExpenseUSD | 420,200,000Source | 341,500,000Source | 290,100,000Source | 250,600,000Source |
| Depreciation, Amortization and Accretion, NetUSD | 9,000,000Source | -6,400,000Source | -17,800,000Source | — |
| Disposal Group, Not Discontinued Operation, Gain (Loss) on DisposalUSD | 849,300,000Source | — | — | — |
| Gain (Loss) on InvestmentsUSD | 361,500,000Source | 184,900,000Source | 434,200,000Source | -93,000,000Source |
| General and Administrative ExpenseUSD | 606,600,000Source | 490,100,000Source | 432,600,000Source | 376,200,000Source |
| GoodwillUSD | 614,100,000Source | 439,200,000Source | 168,800,000Source | 176,500,000Source |
| Goodwill and Intangible Asset ImpairmentUSD | 9,600,000Source | — | — | — |
| Goodwill, Impairment LossUSD | 9,100,000Source | — | — | — |
| Impairment of Intangible Assets, Finite-livedUSD | 500,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | 230,400,000Source | 509,200,000Source | -109,700,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | 284,100,000Source | 580,900,000Source | -190,800,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 16,400,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | 0Source | 0Source | -903,200,000Source |
| Income Tax Expense (Benefit)USD | 126,900,000Source | 32,600,000Source | -15,500,000Source | 41,400,000Source |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred ClaimsUSD | 882,200,000Source | 888,500,000Source | 726,800,000Source | — |
| Net Income (Loss) Attributable to ParentUSD | 1,106,400,000Source | 230,400,000Source | 509,200,000Source | — |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 95,400,000Source | 53,700,000Source | 71,700,000Source | -80,400,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 1,090,100,000Source | 227,400,000Source | 502,000,000Source | 792,800,000Source |
| Proceeds from Issuance of Long-term DebtUSD | 294,700,000Source | 36,600,000Source | 12,400,000Source | — |
| Proceeds from Noncontrolling InterestsUSD | 700,000Source | — | — | — |
| Proceeds from (Payments to) Noncontrolling InterestsUSD | — | -21,100,000Source | -3,000,000Source | -21,600,000Source |
| Realized Investment Gains (Losses)USD | — | — | — | 115,100,000Source |
| Unrealized Gain (Loss) on InvestmentsUSD | — | — | — | -313,400,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 3,735,000,000Source | 2,239,800,000Source | 2,166,700,000Source | 1,157,900,000Source |
| Cost of RevenueUSD | 151,800,000Source | 29,600,000Source | 40,400,000Source | 98,600,000Source |
| Gross Profit (Calculated) · Derived | — | — | — | — |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 1,328,700,000Source | 316,700,000Source | 565,400,000Source | -149,400,000Source |
| Income Tax Expense (Benefit)USD | 126,900,000Source | 32,600,000Source | -15,500,000Source | 41,400,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | 95,400,000Source | 53,700,000Source | 71,700,000Source | -80,400,000Source |
| Net Income (Loss) Attributable to ParentUSD | 1,106,400,000Source | 230,400,000Source | 509,200,000Source | — |
| Earnings Per Share, BasicUSD per share | 430.14Source | 89.79Source | 198.6Source | 276.96Source |
| Earnings Per Share, DilutedUSD per share | 430.14Source | 89.79Source | 198.6Source | 276.96Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 2,534,300Source | 2,532,200Source | 2,527,300Source | 2,826,200Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 2,534,300Source | 2,532,200Source | 2,527,300Source | 2,826,200Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 28,400,000Source | 22,000,000Source | 7,200,000Source | 5,200,000Source |
| Benefits, Losses and ExpensesUSD | 2,406,300,000Source | 1,923,100,000Source | 1,601,300,000Source | 1,307,300,000Source |
| Common Stock, Dividends, Per Share, DeclaredUSD per share | 1Source | 1Source | 1Source | 1Source |
| Current Income Tax Expense (Benefit)USD | 34,800,000Source | 21,500,000Source | 31,400,000Source | 28,500,000Source |
| Deferred Policy Acquisition Costs, Amortization ExpenseUSD | 420,200,000Source | 341,500,000Source | 290,100,000Source | 250,600,000Source |
| Gain (Loss) on InvestmentsUSD | 361,500,000Source | 184,900,000Source | 434,200,000Source | -93,000,000Source |
| General and Administrative ExpenseUSD | 606,600,000Source | 490,100,000Source | 432,600,000Source | 376,200,000Source |
| Goodwill, Impairment LossUSD | 9,100,000Source | — | — | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | — | 230,400,000Source | 509,200,000Source | -109,700,000Source |
| Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | 284,100,000Source | 580,900,000Source | -190,800,000Source |
| Income (Loss) from Continuing Operations, Per Basic ShareUSD per share | 430.14Source | 89.79Source | 198.6Source | -38.34Source |
| Income (Loss) from Continuing Operations, Per Diluted ShareUSD per share | 430.14Source | 89.79Source | 198.6Source | -38.34Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling InterestUSD | — | — | — | 16,400,000Source |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to ParentUSD | — | 0Source | 0Source | -903,200,000Source |
| Interest ExpenseUSD | 78,400,000Source | 60,800,000Source | 62,700,000Source | — |
| Interest Expense, DebtUSD | 78,400,000Source | 60,800,000Source | 62,700,000Source | 40,300,000Source |
| Investment Income, NetUSD | — | — | 0Source | — |
| Liability for Unpaid Claims and Claims Adjustment Expense, Incurred ClaimsUSD | 882,200,000Source | 888,500,000Source | 726,800,000Source | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 1,090,100,000Source | 227,400,000Source | 502,000,000Source | 792,800,000Source |
| Net Investment IncomeUSD | 248,000,000Source | 227,400,000Source | 194,200,000Source | 124,400,000Source |
| Other IncomeUSD | 222,300,000Source | 84,700,000Source | 84,200,000Source | 136,800,000Source |
| Other Operating IncomeUSD | 29,800,000Source | 15,800,000Source | — | — |
| Realized Investment Gains (Losses)USD | — | — | — | 115,100,000Source |
Filing attachments
wtmex991-basesixpressrelea.htm · 8-K · 2026-04-01
EX-99.1 2 wtmex991-basesixpressrelea.htm EX-99.1 Document Exhibit 99.1 PRESS RELEASE WHITE MOUNTAINS PARTNERS ANNOUNCES ACQUISITION OF BASESIX NEW YORK, New York, April 1, 2026 - White Mountains Partners (“WMP”), a White Mountains operating company, announced today that it has acquired a majority interest in BaseSix Systems LLC (“Basesix” or the “Company”), a provider of building systems integration and aftermarket service. Founded in 2018 and headquartered in Marietta, Georgia, Bases…
Read attachment ↗wtmex991.htm · 8-K · 2025-12-08
EX-99.1 2 wtmex991.htm EX-99.1 Document Exhibit 99.1 PRESS RELEASE - White Mountains Completes Sale of Bamboo HAMILTON, Bermuda, December 8, 2025 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) (“White Mountains”) announced today that it has completed the sale of a controlling interest in Bamboo to affiliates of funds advised by CVC Capital Partners (“CVC”). White Mountains continues to retain an approximately 15% fully-diluted equity stake in Bamboo. Contact: Rob See…
Read attachment ↗wtmex991-lcgmrpressrelease.htm · 8-K · 2025-09-02
EX-99.1 2 wtmex991-lcgmrpressrelease.htm EX-99.1 Document Exhibit 99.1 CONTACT: Rob Seelig (603) 640-2212 LIAM CAFFREY TO BECOME CEO OF WHITE MOUNTAINS IN 2026 HAMILTON, Bermuda September 2, 2025 -- White Mountains Insurance Group, Ltd. (NYSE: WTM) ("White Mountains") announced today that its Board of Directors has unanimously elected Liam Caffrey as Chief Executive Officer, effective January 1, 2026. In addition, Mr. Caffrey will join the White Mountains Board at that time. Mr. C…
Read attachment ↗