White Mountains Stock Price, News & Analysis

Kudu Investment Management, a provider of permanent capital solutions, announced that Massachusetts Mutual Life Insurance Company (MassMutual) has become an equity investor, joining White Mountains Insurance Group, traded as WTM. Since 2018, Kudu has acquired minority stakes in 17 asset and wealth managers, collectively managing $65 billion as of March 31, 2022. Kudu has raised over $800 million in capital, including a $350 million credit facility closed in 2021. Kudu's CEO expressed gratitude for MassMutual's support and highlighted a strong pipeline of investment opportunities.

White Mountains Insurance Group, Ltd. (NYSE: WTM) will host its Annual Investor Information Meeting on June 10, 2022, at 10:00 a.m. ET, at the Mandarin Oriental Hotel in New York. Investors can attend in person or via webcast. CEO Manning Rountree will present the company's operations and outlook, followed by a Q&A session. Pre-registration is available on the company's website, where the 2021 Annual Report and other documents are also accessible. For more details, visit www.whitemountains.com.

On May 9, 2022, White Mountains Insurance Group (NYSE: WTM) announced the sale of NSM Insurance Group for $1.775 billion to Carlyle (NASDAQ: CG). The deal is expected to increase White Mountains' adjusted book value per share by approximately $280 and boost its undeployed capital from $0.4 billion to $1.7 billion. The transaction, set to close in the second half of 2022 pending regulatory approval, is seen as beneficial for both White Mountains' shareholders and NSM's management, facilitating NSM's growth with Carlyle's expertise.

White Mountains Insurance Group (NYSE: WTM) reported a book value per share of $1,183 and an adjusted book value per share of $1,204 as of March 31, 2022, both reflecting a 1% increase from the previous quarter. Comprehensive income for Q1 2022 was $31 million, a significant recovery from a loss of $(74) million in Q1 2021. Key drivers included strong performance in equity and operating portfolios, while BAM generated $22 million in premiums. However, losses related to Ark's underwriting were noted due to the conflict in Ukraine, and HG Global faced a $15 million pre-tax loss.

White Mountains Insurance Group, Ltd. (NYSE: WTM) announced that HG Global Ltd. closed a $150 million term loan facility with Hudson Structured Capital Management and Security Benefit Life Insurance Company. Proceeds are expected by May 31, 2022, with $120 million allocated for dividends to White Mountains and other equity holders. The facility has a BBB investment grade rating from Kroll Bond Rating Agency. The credit facility does not affect HG Re Ltd.'s reinsurance obligations.

White Mountains Insurance Group, Ltd. announced a $1.00 per share annual dividend during its Board meeting on February 24, 2022. This cash dividend is set to be paid on March 23, 2022, to shareholders on record as of March 14, 2022. The company operates as a Bermuda-domiciled financial services holding company and is listed on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM.

White Mountains Insurance Group reported a 1% increase in book value per share at $1,176 and adjusted book value per share at $1,190 for Q4 2021. However, both metrics decreased 7% and 6%, respectively, for the full year. The company faced $55 million in investment losses linked to MediaAlpha. Strong performance was noted in BAM with $34 million in premiums and Ark saw a 78% rise in full-year premiums. Share repurchases totaled $108 million for 2021. Comprehensive loss for Q4 was $34 million.

Radcliffe Capital Management has announced a minority investment from Kudu Investment Management, enhancing its defensive credit strategies. Financial terms remain undisclosed. Radcliffe, managing over $3.5 billion in assets, focuses on short-duration bonds and SPAC portfolios. Kudu's investment aims to diversify its portfolio, acknowledging Radcliffe's strong management and defensive investment philosophy. Kudu has previously invested in 19 asset management firms, collectively managing $84 billion. This partnership is expected to broaden Radcliffe's reach to institutional and high-net-worth clients globally.

White Mountains Insurance Group (NYSE: WTM) announces that Liam P. Caffrey will assume the role of Chief Financial Officer on March 1, 2022. Caffrey has over 20 years of experience, including prior roles at Aon plc and McKinsey & Company. Reid T. Campbell, the current CFO, will transition to the role of President, maintaining his executive duties until his retirement in February 2024. CEO G. Manning Rountree expressed confidence in this leadership change, highlighting the strength of both individuals.