White Mountains Stock Price, News & Analysis

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.

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.

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.