White Mountains Stock Price, News & Analysis

White Mountains (NYSE: WTM) announced preliminary results of a modified Dutch auction tender offer to buy up to $300 million of common shares, which expired December 19, 2025.

Based on a preliminary depositary count, 67,186 shares were validly tendered at or below the purchase price of $2,050 per share, including 16,589 shares via guaranteed delivery. The company expects to purchase those shares for approximately $137.7 million, representing about 2.6% of shares outstanding as of November 19, 2025.

Results and the final purchase price are preliminary and subject to confirmation by the depositary and completion of the guaranteed delivery period; final results and payment will be announced promptly after confirmation.

White Mountains (NYSE: WTM) announced on December 8, 2025 that it has completed the sale of a controlling interest in Bamboo to affiliates of funds advised by CVC Capital Partners.

White Mountains will continue to hold an approximately 15% fully-diluted equity stake in Bamboo following the transaction.

White Mountains (NYSE: WTM) commenced a modified Dutch auction self-tender offer to purchase up to $300 million in value of its common shares in cash at a price between $1,850 and $2,050 per share.

The offer opened on November 21, 2025 and expires at 12:00 midnight New York City time on December 19, 2025, unless extended. Shares closed at $1,881.61 on November 20, 2025. If fully subscribed, the company could buy ~146,341 shares (5.8%) at $2,050 or ~162,162 shares (6.4%) at $1,850. The offer is not conditioned on financing or a minimum tender and permits withdrawal prior to expiration.

White Mountains (NYSE: WTM) reported book value per share $1,851 as of Sept 30, 2025, up 3% in Q3 and 6% year-to-date including dividends. White Mountains agreed on Oct 2, 2025 to sell ~77% of Bamboo to CVC, and expects the transaction to add ~$325 per share, bringing pro forma BVPS to $2,176 as of Sept 30, 2025. Q3 comprehensive income attributable to common shareholders was $114M. Ark, HG Global, Kudu and Bamboo reported quarter-over-quarter growth across premiums, underwriting results and investment gains, while MediaAlpha investment gains were smaller versus prior year.

White Mountains (NYSE: WTM) signed a definitive agreement to sell a controlling interest in Bamboo to funds advised by CVC, valuing Bamboo at $1.75 billion. White Mountains expects a gain of approximately $310 to its book value per share and net cash proceeds of about $840 million. Post-closing White Mountains will retain an approximately 15% fully-diluted equity stake in Bamboo valued at $250 million based on the transaction. The deal is expected to close by the end of Q4 2025, subject to regulatory approvals and customary closing conditions; the closing is not subject to a financing condition.

Bamboo Ide8 Insurance Services, a subsidiary of White Mountains Insurance Group (NYSE: WTM), has partnered with Accredited to launch their new E&S Signature program in Texas, supported by a multi-year sidecar transaction through Greenshoots Re Ltd.

The sidecar, initially established in early 2025, represents a strategic expansion of Bamboo's reinsurance capabilities. CEO John Chu highlighted Greenshoots Re as a strategic differentiator providing flexible, long-term capital access for both new and existing programs. GC Securities acted as the sole structuring and placement agent, with Willkie Farr & Gallagher as deal counsel.

White Mountains Insurance Group (NYSE: WTM) has announced significant leadership changes effective January 1, 2026. Liam Caffrey, currently President and CFO, will become CEO and join the Board, succeeding Manning Rountree, who will retire but continue as Senior Advisor through January 2028.

The transition includes additional executive appointments: Michael Papamichael will become CFO, and Giles Harrison will assume the role of President. Caffrey, who joined as CFO in 2022, brings extensive experience from Aon PLC and McKinsey & Company. The Board has unanimously approved these leadership changes, expressing confidence in the company's future direction.

White Mountains Insurance Group (NYSE: WTM) reported strong Q2 2025 results with a 3% increase in book value per share to $1,804. The company posted comprehensive income of $124 million for Q2 2025, compared to a loss of $55 million in Q2 2024.

Key highlights include Ark's 85% combined ratio and $815 million in gross written premiums (up 17% YoY), HG Global's record Q2 with $19 million in gross written premiums, and MediaAlpha's 19% share price increase. The investment portfolio, excluding MediaAlpha, grew by 2.3%. The company announced strategic acquisitions of Distinguished Programs and completed the BroadStreet Partners transaction, leaving approximately $300 million in undeployed capital.

BroadStreet Partners, a leading middle-market insurance brokerage, announced the completion of a strategic investment from an investor group led by Ethos Capital, with participation from British Columbia Investment Management Corporation (BCI), White Mountains Insurance Group (NYSE:WTM), and accounts advised by T. Rowe Price.

The transaction maintains Ontario Teachers' Pension Plan as a significant co-control stakeholder. BroadStreet specializes in commercial and personal property & casualty and employee benefits solutions, partnering with independent insurance agencies through their Core Agency Partners program. The company provides M&A capabilities, capital solutions, and resources to support organic growth.