White Mountains Stock Price, News & Analysis

White Mountains Insurance Group (NYSE: WTM) reported robust financial results for the fourth quarter and full year 2020. Book value per share reached $1,259, up 15% QoQ and 23% YoY. Adjusted book value was $1,264. Comprehensive income attributable to shareholders was $495 million for the fourth quarter, significantly up from $65 million in Q4 2019. The successful IPO of MediaAlpha contributed $391 million in net investment income. BAM and NSM also reported growth in premiums and earnings metrics. The total return on invested assets was 14.3% in Q4 2020.

Ranger Investment Management has announced the acquisition of a controlling interest by its management team, financed by Kudu Investment Management, which will retain a minority stake. The firm manages approximately $1.6 billion in discretionary assets and $400 million in non-discretionary assets. This move aims to enhance stability and align interests between management and clients, as each investment partner now holds a larger ownership share. Kudu's capital commitment is expected to help Ranger Investments better serve its clients moving forward.

Channel Capital, an Australian investment company managing over A$16 billion in assets, is pursuing a management buyout from minority partner Highbury Partnership. Kudu Investment Management is providing the necessary financing for this buyout, expected to be completed in November. This deal aims to enhance Channel's growth strategy and allow employee shareholders to gain increased control. Kudu will hold a minority share post-transaction. Established in 2013, Channel has 27 employees and partners with eight investment management firms.

White Mountains Insurance Group (WTM) reported a book value per share of $1,099 and an adjusted book value per share of $1,101 as of September 30, 2020, both reflecting an 8% increase in Q3. The MediaAlpha IPO, priced at $19.00, positively impacted White Mountains's valuation, with estimates suggesting values could rise to $1,230 with stock price increases. Comprehensive income for the quarter was $237 million, significantly up from $46 million in Q3 2019. Key transactions and an active investment portfolio contributed to a 2.8% return during the quarter.

White Mountains Insurance Group, Ltd. (NYSE: WTM) announced the pricing of MediaAlpha, Inc.'s initial public offering (IPO) of 9,250,000 shares at $19 each, set to trade on the NYSE under the ticker 'MAX' starting October 28, 2020. This IPO values MediaAlpha at approximately $1.2 billion. White Mountains will sell 2,991,498 shares and, post-offering, retain a 33% ownership stake valued at about $400 million. The offering is expected to close on October 30, 2020.

White Mountains Insurance Group announced that MediaAlpha has filed a registration statement on Form S-1 with the SEC for an initial public offering (IPO) of its Class A common stock. MediaAlpha aims to list its shares on the NYSE under the ticker MAX. Shares will be sold by MediaAlpha and an affiliate of White Mountains. The number of shares and pricing details remain undetermined, and the offering's completion is subject to market conditions. The registration statement is pending effectiveness and does not constitute an offer to sell these securities.

White Mountains Insurance Group (NYSE: WTM) has entered a definitive agreement to invest $605 million and acquire a majority interest in Ark Insurance Holdings, enhancing its position in the Lloyd's property and casualty insurance market. Valued at $300 million pre-money, this investment aims to increase Ark's capacity and expand its operations. White Mountains will own 72% of Ark initially, potentially increasing to 77% with future capital contributions. The deal is set to close in January 2021, positioning both firms for significant growth.

White Mountains Insurance Group, Ltd. (NYSE: WTM) reported a 4% increase in adjusted book value per share to $1,022 as of June 30, 2020, largely due to a 6.5% return on its investment portfolio. The company's comprehensive income was $116 million for the second quarter, down sharply from $18 million a year prior. BAM achieved record premiums of $43 million for the quarter, benefiting from high demand and pricing. However, PassportCard/DavidShield saw significant revenue declines from travel activity. Share repurchases totaled $31 million during the quarter.

Sequoia Financial Group announced a strategic investment from Kudu Investment Management to enhance growth and support its U.S. expansion plans. Sequoia, which manages $4.7 billion in client assets, aims to create generational capital for durability and continuity in client services. Founded in 1991, Sequoia focuses on comprehensive financial planning and wealth management. Kudu, backed by White Mountains Insurance Group, supports asset managers with long-term capital solutions. Financial terms of the deal remain undisclosed.