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White Mountains Insurance Group, Ltd. - WTM STOCK NEWS

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 (NYSE: WTM) will hold its Annual Investor Information Meeting on June 7, 2024, at 10:00 a.m. Eastern Time. The event, hosted at the Mandarin Oriental Hotel in New York, will also be accessible via webcast. CEO Manning Rountree will discuss the company’s operations and future outlook, followed by a Q&A session. Key documents, including the 2023 Annual Report, Notice of 2024 Annual General Meeting, and 2023 Management Report, are available online. Investors can pre-register or register on the day of the event via the company's website, where detailed instructions are provided for participation and question submission.

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White Mountains Insurance Group, (NYSE: WTM) announced the closure of MediaAlpha, Inc.'s underwritten secondary public offering of 7,590,000 shares at $19.00 per share. White Mountains sold 5,000,200 shares, generating around $90 million. Following the offering, White Mountains holds 25% fully-diluted ownership of MediaAlpha. The offering did not involve MediaAlpha selling any shares, ensuring a substantial cash influx for White Mountains.

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White Mountains Insurance Group, reported a strong first quarter with book value per share of $1,742 and adjusted book value per share of $1,797 as of March 31, 2024, increasing by 5% and 6% respectively. MediaAlpha's performance was key to the growth. Total comprehensive income attributable to common shareholders was $236 million, up from $180 million in the first quarter of 2023. The Ark/WM Outrigger segment performed well with a combined ratio of 91%. BAM experienced some losses but remains positive about the future. Kudu had a solid quarter, and Bamboo more than tripled managed premiums year-over-year.

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White Mountains Insurance Group, (NYSE: WTM) announced that MediaAlpha, Inc. priced a secondary public offering of 6.6 million shares of its Class A common stock, with White Mountains offering 4.3 million shares. White Mountains will receive approximately $79 million in net cash proceeds. The offering is expected to close on May 10, 2024.

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White Mountains Partners announced the appointment of David Mondrus as Chief Financial Officer and Financial Operating Partner. David Mondrus brings a wealth of financial management and deal-making experience to the team. White Mountains Partners is a subsidiary of White Mountains Insurance Group, providing capital to family, founder, and entrepreneur-owned businesses.

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White Mountains Insurance Group, (NYSE: WTM) appoints Giles Harrison as Executive Vice President and Chief Strategy Officer, and Liam Caffrey as President. Harrison brings extensive insurance and financial experience from Zurich Insurance Company White Mountains aims to enhance shareholder value through these strategic appointments.
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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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FAQ

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

4.45B
2.57M
3.08%
92.06%
1.32%
Direct Property and Casualty Insurance Carriers
Finance and Insurance
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United States of America
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