Welcome to our dedicated page for White Mountains news (Ticker: WTM), a resource for investors and traders seeking the latest updates and insights on White Mountains stock.
White Mountains Insurance Group, Ltd. (NYSE: WTM, BSX: WTM.BH) is a Bermuda‑domiciled financial services holding company active in property and casualty insurance and reinsurance, municipal bond reinsurance, capital solutions for asset and wealth management firms and property and casualty insurance distribution. The news flow around White Mountains reflects both its operating performance and its capital allocation decisions across these areas.
On this page, readers can follow company announcements such as quarterly and year‑to‑date financial results, where White Mountains reports book value per share, comprehensive income attributable to common shareholders and segment performance for Ark/WM Outrigger, HG Global, Kudu, Bamboo, Distinguished and other operations. These releases often discuss combined ratios, gross written premiums, investment gains and losses and non‑GAAP metrics used to evaluate specific platforms.
White Mountains also issues news about strategic transactions and corporate actions. Recent examples in its public disclosures include a modified Dutch auction self‑tender offer for its common shares, the acquisition of a controlling interest in Distinguished Programs, the sale of a controlling financial interest in the Bamboo Group to affiliates of funds advised by CVC Capital Partners while retaining an indirect equity stake, and participation in a strategic investment in BroadStreet Partners. Leadership and governance updates, such as planned changes in the Chief Executive Officer, President and Chief Financial Officer roles, are also communicated through press releases and related Form 8‑K filings.
Investors and analysts can use the WTM news feed to monitor how White Mountains manages catastrophe exposures through Ark and WM Outrigger Re, how HG Global and its municipal bond reinsurance activities are performing, how Kudu’s capital solutions portfolio is evolving and how the company’s investment in MediaAlpha affects reported results. Regularly reviewing these updates can provide insight into White Mountains’ operating trends, transaction activity and capital management over time.
White Mountains Insurance Group (NYSE: WTM) reported a 3% decrease in book value per share to $1,746 and adjusted book value per share to $1,834 in Q4 2024. For the full year 2024, both metrics increased by 6% and 8% respectively. The company reported comprehensive loss of $131 million in Q4 2024 compared to income of $288 million in Q4 2023.
Key highlights include:
- Ark produced a 77% combined ratio and $264 million in gross written premiums, up 14% year-over-year
- HG Global generated $18 million in gross written premiums
- MediaAlpha's share price declined 38% in Q4, resulting in a $122 million mark-to-market loss
- Investment returns excluding MediaAlpha were down slightly in Q4 but up 6.5% for the year
- Undeployed capital stands at approximately $700 million
Homestead Capital USA, a farmland-focused asset manager with over $1.6 billion in equity and credit assets, has secured a passive, minority investment from Kudu Investment Management. Founded in 2012, Homestead manages investments for pension plans, endowments, foundations, insurance companies, and family offices through acquiring and managing farmland properties and lending to operators.
The San Francisco-based firm, which remains majority employee-owned and led by co-founders Daniel Little and Gabe Santos, operates across the Pacific, Pacific Northwest, Mountain West, Delta and Midwest regions with 20 employees. They focus on working with small and mid-sized farmers to enhance capacity and profitability.
Kudu Investment Management, founded in 2015, has invested in 30 asset and wealth managers globally, with partner firms collectively managing approximately $128 billion as of September 30, 2024.
RiverNorth Capital Management, an investment manager specializing in opportunistic strategies and closed-end funds, has secured a passive, minority investment from Kudu Investment Management. Founded in 2000, RiverNorth manages $5.2 billion in assets across registered funds, private funds, and separately managed accounts.
The partnership aims to support RiverNorth's growth while maintaining its majority employee ownership and control. This marks Kudu's 27th permanent capital investment, with their partner firms collectively managing approximately $123 billion as of September 30, 2024. The financial terms of the investment were not disclosed.
White Mountains Insurance Group (NYSE: WTM) reported strong Q3 2024 results with book value per share of $1,795 and adjusted book value per share of $1,883. The company saw increases of 4% and 6% respectively in Q3, and 9% and 11% in the first nine months of 2024. Ark achieved a 79% combined ratio and $374 million in gross written premiums, up 49% year-over-year. Comprehensive income attributable to shareholders was $180 million in Q3 and $361 million in the first nine months of 2024. The company maintains approximately $650 million in undeployed capital.
Revelation Partners, a leading healthcare secondaries investment manager, has received a minority investment from Kudu Investment Management. The financial terms were not disclosed. Revelation, based in Sausalito, California, manages over $1.5 billion in committed capital, providing liquidity and growth capital across the private healthcare market.
Revelation remains employee-owned and controlled, with co-founders Mike Boggs and Scott Halsted continuing to lead as managing partners. The partnership with Kudu aims to support Revelation's growth and resource expansion. Kudu, founded in 2015, has invested in 28 asset and wealth managers globally, with partner firms collectively managing approximately $129 billion as of June 30, 2024.
Bamboo Insurance has secured the No. 1,680 spot on the Inc. 5000 2024 list of America's Fastest-Growing Private Companies for the second consecutive year. The company achieved a remarkable three-year revenue growth of 309 percent, demonstrating its ability to navigate challenging economic conditions. Bamboo's success is attributed to its focus on delivering innovative solutions to dislocated insurance markets.
Earlier this year, White Mountains Insurance Group, (NYSE: WTM) made a significant investment in Bamboo, acquiring a 72% stake for $297 million. This investment includes primary capital to support Bamboo's continued growth and expansion in the insurance industry.
White Mountains Insurance Group (NYSE: WTM) announced its Q2 2024 results, reporting a 1% decrease in adjusted book value per share (ABVPS) to $1,777. Despite this, ABVPS saw a 4% increase in the first half of 2024, including dividends.
Ark posted 89% combined ratio with $697M in gross written premiums, a 15% YoY rise. BAM generated $28M in gross written premiums, up 7% YoY. Kudu's adjusted EBITDA increased, with trailing 12 months at $60M. Bamboo tripled managed premiums YoY to $120M and grew adjusted EBITDA to $12M.
MediaAlpha's share price dropped 35%, leading to a $139M loss. White Mountains' comprehensive income for Q2 2024 was $(55)M, influenced by investment losses in MediaAlpha. Excluding MediaAlpha, investment returns were positive. The company holds $650M in undeployed capital.
White Mountains repurchased no shares in Q2 2024 but bought back 5,269 shares in H1 2024 at an average price of $1,505.01 per share. The total consolidated portfolio return was -0.1% for Q2 2024, 2.2% excluding MediaAlpha.
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.
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.
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.