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. reports developments across an insurance and financial-services holding company built around opportunistic acquisitions, ownership of operating businesses, and dispositions when exit values are attractive. Recurring updates cover book value per share, operating results, investment returns, capital deployment, share repurchases and tender offers.
Company news also tracks segment and subsidiary activity at Ark/WM Outrigger, HG Global, Kudu and Distinguished, along with White Mountains Partners investments in founder- and entrepreneur-owned businesses. Updates include property and casualty insurance and reinsurance, municipal bond reinsurance, capital solutions for asset and wealth management firms, insurance distribution programs, reinsurance sidecar activity and completed portfolio transactions such as the Bamboo sale.
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On February 23, 2023, the Board of Directors of White Mountains Insurance Group declared an annual dividend of $1.00 per share. This dividend will be paid in cash on March 22, 2023, to shareholders on record as of the close of business on March 13, 2023. As a Bermuda-domiciled financial services holding company, White Mountains is traded on both the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM. The announcement underscores the company's commitment to returning value to its shareholders.
White Mountains Insurance Group, Ltd. (NYSE: WTM) announced the election of Weston M. Hicks as a director on its Board. Hicks, who previously served as President and CEO of Alleghany Corporation, has extensive experience in the insurance sector and has also held board positions at both Alleghany and AllianceBernstein Corporation. CEO Manning Rountree expressed enthusiasm for Hicks' appointment, stating it will be a significant asset for the company. White Mountains operates as a financial services holding company based in Bermuda.
White Mountains Insurance Group (NYSE: WTM) reported a 1% rise in book value per share to $1,457 and 2% increase in adjusted book value per share to $1,495 for Q4 2022. Over the year, book value rose 24% and adjusted book value grew 26% due to gains from NSM's sale. In Q4, comprehensive income was $40 million vs. $34 million YoY. Ark's GAAP combined ratio improved to 59% from 70%, while gross written premiums surged 37% year-over-year. Kudu's revenues totaled $32 million for Q4. The company repurchased 461,256 shares for $616 million in 2022.
Variant Investments has announced a minority investment from Kudu Investment Management as of January 19, 2023. The financial details of the investment were not disclosed. Variant, which is employee-controlled and manages over $2.3 billion in assets, seeks investments in niche private markets through its funds, including the Variant Alternative Income Fund and the Variant Impact Fund. Kudu aims to enhance Variant's growth by offering extensive networking opportunities. Kudu has backed 23 asset managers globally and collectively manages approximately $66 billion for diverse investors.