LIAM CAFFREY TO BECOME CEO OF WHITE MOUNTAINS IN 2026
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) ha annunciato importanti cambiamenti ai vertici a partire dal 1° gennaio 2026. Liam Caffrey, attualmente Presidente e CFO, assumerà il ruolo di CEO e entrerà nel Consiglio di Amministrazione, succedendo a Manning Rountree, che andrà in pensione ma resterà Consigliere Senior fino a gennaio 2028.
La transizione prevede anche altre nomine: Michael Papamichael sarà il nuovo CFO e Giles Harrison ricoprirà la carica di Presidente. Caffrey, arrivato in azienda come CFO nel 2022, porta con sé una significativa esperienza maturata in Aon PLC e McKinsey & Company. Il Consiglio ha approvato all'unanimità i cambiamenti, manifestando fiducia nella direzione futura della società.
White Mountains Insurance Group (NYSE: WTM) ha anunciado cambios importantes en su liderazgo con efecto a partir del 1 de enero de 2026. Liam Caffrey, actualmente presidente y CFO, asumirá el cargo de CEO y se incorporará al consejo de administración, sucediendo a Manning Rountree, quien se retirará pero permanecerá como asesor sénior hasta enero de 2028.
La transición incluye más nombramientos ejecutivos: Michael Papamichael será el nuevo CFO y Giles Harrison ocupará la presidencia. Caffrey, que llegó como CFO en 2022, aporta una amplia experiencia procedente de Aon PLC y McKinsey & Company. El consejo aprobó por unanimidad los cambios, mostrando confianza en el rumbo futuro de la compañía.
White Mountains Insurance Group (NYSE: WTM)는 2026년 1월 1일부로 주요 경영진 변경을 발표했습니다. 현재 사장 겸 CFO인 Liam Caffrey가 CEO로 취임하고 이사회에 합류하여 퇴임하는 Manning Rountree의 뒤를 잇습니다. Rountree는 2028년 1월까지 선임 고문으로 계속 활동할 예정입니다.
이번 전환에는 추가 임원 보직도 포함됩니다. Michael Papamichael가 CFO를 맡고 Giles Harrison가 사장직을 수행합니다. 2022년 CFO로 합류한 Caffrey는 Aon PLC와 McKinsey & Company에서의 폭넓은 경력을 갖고 있습니다. 이사회는 이러한 리더십 변경을 만장일치로 승인하며 회사의 향후 방향에 대한 신뢰를 표명했습니다.
White Mountains Insurance Group (NYSE: WTM) a annoncé des changements majeurs à sa direction, effectifs au 1er janvier 2026. Liam Caffrey, actuellement président et directeur financier, deviendra CEO et rejoindra le conseil d'administration, succédant à Manning Rountree qui prendra sa retraite tout en restant conseiller principal jusqu'en janvier 2028.
La transition comprend également d'autres nominations exécutives : Michael Papamichael sera le nouveau CFO et Giles Harrison occupera la présidence. Entré comme CFO en 2022, Caffrey apporte une solide expérience acquise chez Aon PLC et McKinsey & Company. Le conseil a approuvé ces changements à l'unanimité, exprimant sa confiance dans l'orientation future de l'entreprise.
White Mountains Insurance Group (NYSE: WTM) hat zum 1. Januar 2026 umfassende Führungswechsel angekündigt. Liam Caffrey, derzeit Präsident und CFO, wird CEO und Mitglied des Vorstands und folgt damit auf Manning Rountree, der in den Ruhestand geht, aber bis Januar 2028 als Senior Advisor tätig bleibt.
Die Übergangsregelung beinhaltet weitere Ernennungen: Michael Papamichael wird CFO und Giles Harrison übernimmt die Rolle des Präsidenten. Caffrey, der 2022 als CFO zum Unternehmen kam, bringt umfangreiche Erfahrungen von Aon PLC und McKinsey & Company mit. Der Vorstand hat die Führungswechsel einstimmig beschlossen und sein Vertrauen in die künftige Ausrichtung des Unternehmens bekundet.
- Planned and orderly CEO succession with unanimous Board approval
- Former CEO remains involved as Senior Advisor through 2028, ensuring smooth transition
- New CEO brings strong industry experience from Aon PLC and McKinsey
- Internal promotions demonstrate strong succession planning and talent pipeline
- Potential strategic direction changes under new leadership could create uncertainty
Insights
White Mountains' planned CEO succession represents a well-orchestrated leadership transition with strategic continuity for the insurance holding company.
This leadership transition at White Mountains Insurance Group appears exceptionally well-structured, featuring a 16-month advance announcement and a clear succession plan that extends beyond just the CEO position. The company has established a comprehensive leadership pipeline with Caffrey moving from President/CFO to CEO, Papamichael stepping up as CFO, and Harrison becoming President.
Particularly noteworthy is the retention of outgoing CEO Manning Rountree as a Senior Advisor through January 2028, providing continuity and institutional knowledge transfer during this transition. This two-year advisory period goes beyond typical transition arrangements and suggests the board is prioritizing stability.
Caffrey brings valuable credentials to the role with his background at Aon PLC and McKinsey, combining both insurance industry operational experience and strategic consulting expertise. The orderly succession planning, complete with board endorsement and the outgoing CEO's support, signals strong corporate governance practices that typically reassure institutional investors.
The coordinated statements from all key stakeholders (incoming CEO, outgoing CEO, and board chairman) emphasize continuity in business strategy rather than significant directional changes. This suggests the transition aims to maintain the company's current trajectory while injecting fresh leadership perspective, rather than signaling any corrective action or strategic pivot.
Mr. Caffrey, who currently serves as President and Chief Financial Officer of White Mountains, will succeed current Chief Executive Officer Manning Rountree, who will retire as CEO and a member of the White Mountains Board on December 31, 2025. Mr. Caffrey joined White Mountains as CFO in 2022. Prior to that, he spent nine years in various finance and operating roles at Aon PLC. Prior to joining Aon, he served as a principal at McKinsey & Company.
Mr. Rountree will serve as a Senior Advisor to White Mountains through January 1, 2028. In this role, Mr. Rountree will continue to serve on the boards of several of the Company's operating subsidiaries and will advise the senior management team.
Mr. Caffrey said, "I am honored to assume leadership of this great company. Over the past several years, Manning has been a valued mentor to me, and I am grateful for his continuing guidance as I move into my new role. White Mountains is in a fantastic position today, and I look forward to working with our Board and management team to build upon our strong track record of creating shareholder value."
Mr. Rountree said, "It has been a privilege to serve White Mountains over these many years and to have led a terrific team of talented and dedicated professionals. Liam and I have worked together closely over the past four years and jointly planned for this succession. He is the right person to lead the Company going forward. With our business and our team in great shape, I decided now was the right time for this transition. White Mountains's future is bright, and I look forward to advising the team as they pursue the opportunities ahead."
Weston Hicks, Chairman of White Mountains, said, "Liam is a proven executive who brings deep insurance experience to his new role. I am confident our owners will prosper under his leadership and that of our top-notch management team. The Board and I want to thank Manning for his dedication to this Company for the past 21 years. The Company has flourished during his tenure as CEO, and he leaves it well-positioned for the future. We wish him the best in his well-deserved retirement."
Michael Papamichael, currently Managing Director and Deputy CFO of White Mountains Capital LLC, will succeed Mr. Caffrey as Chief Financial Officer on January 1, 2026. Prior to rejoining White Mountains in 2020, Mr. Papamichael had served as a Senior Vice President at Hamilton Insurance Group since 2018. Prior to joining Hamilton, Mr. Papamichael held various senior positions at Sirius Group, including when it was owned by White Mountains prior to 2016.
Giles Harrison, currently Executive Vice President and Chief Strategy Officer, will become President of White Mountains on January 1, 2026. Mr. Harrison joined White Mountains in June 2024. Prior to joining White Mountains, Mr. Harrison worked for the Zurich Insurance Group from 2015 to 2024, most recently as the Chief Financial Officer of Farmers Group, Inc.
About White Mountains
White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange under the symbol WTM and on the Bermuda Stock Exchange under the symbol WTM.BH. Additional financial information and other items of interest are available at the Company's web site located at www.whitemountains.com.
CONTACT: Rob Seelig
(603) 640-2212
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SOURCE White Mountains Insurance Group, Ltd.
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