White Mountains Insurance Group Ltd. filings document the formal disclosures of a Bermuda-incorporated insurance and financial-services holding company with common shares listed on the New York Stock Exchange and the Bermuda Stock Exchange. The record includes 8-K reports on operating results, non-GAAP reconciliations, capital deployment, acquisitions, dispositions and reinsurance arrangements.
Filings also cover proxy governance, annual meeting matters, capital structure and shareholder actions, including share repurchase and tender-offer disclosures. Company-specific exhibits and pro forma materials describe transactions involving White Mountains Partners, Ark/WM Outrigger, Kudu, Distinguished and the completed sale of Bamboo, alongside risk and financial disclosures tied to insurance, reinsurance, investment portfolio performance and capital management.
Morgan Stanley filed an amended Schedule 13G reporting beneficial ownership in White Mountains Insurance Group Ltd. (WTM). The filing discloses 132,638 shares beneficially owned, representing 5.2% of the common stock as of the event date 09/30/2025.
The filing lists 0 shares with sole voting power and 95,280 shares with shared voting power. It also reports 0 shares with sole dispositive power and 132,638 shares with shared dispositive power. Morgan Stanley certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
White Mountains Insurance Group, Ltd. reported net income attributable to common shareholders of $113.8 million for the quarter and $270.6 million for the first nine months of 2025, down from $179.0 million and $360.8 million a year earlier. Total revenues rose to $864.2 million for the quarter and $2.13 billion year-to-date, reflecting strong contributions from P&C insurance, asset management and distribution businesses.
The company agreed to sell a controlling interest in Bamboo at a $1.75 billion enterprise value, expecting about $840 million in net cash and retaining a $250 million stake. It also acquired controlling interests in Distinguished, a specialty insurance distribution platform, and Enterprise Solutions, expanding non-insurance operations. Investment portfolios remained sizable, with $7.06 billion in total investments and growing Level 3 holdings tied mainly to Kudu participation contracts.
White Mountains Insurance Group (WTM) furnished a press release with results for the three and nine months ended September 30, 2025. The update emphasizes several non‑GAAP measures across Kudu, Bamboo, and Distinguished, with reconciliations provided in the accompanying exhibit.
Bamboo’s MGA pre-tax income was $14.9 million for Q3 2025 and $40.1 million for the nine-month period, after removing the Bamboo captive from consolidated GAAP. Total consolidated portfolio return was 2.1% for Q3; excluding MediaAlpha it was 2.0%. For the nine months, total consolidated portfolio return was 6.6%; excluding MediaAlpha it was 6.8%. The Q3 total equity portfolio return was 2.8% and 2.7% excluding MediaAlpha.
The release details how Kudu’s EBITDA and adjusted metrics exclude fair‑value changes, equity‑based comp, and transaction costs; Bamboo’s MGA metrics exclude captive results and specified expenses; and Distinguished’s ScaleCo figures exclude GrowthCo results and certain non‑cash items. Reconciliations are included in Exhibit 99.1.
White Mountains Insurance Group Ltd. (WTM) filed an Form 8-K reporting a material event that references a Securities Purchase Agreement dated October 2, 2025 among White Mountains Investments (Luxembourg) S.à r.l., WM Pierce Holdings, Inc., PM Holdings, LLC and other parties. The filing also includes a press release dated October 3, 2025. The 8-K identifies a significant transaction document and a public announcement but does not include transaction economics, consideration amounts, or detailed terms within the excerpt provided.
White Mountains Insurance Group, Ltd. has completed a significant acquisition in the specialty insurance program space. On September 2, 2025, the company and two indirect wholly owned subsidiaries closed the previously announced purchase of 50% of AQ Phoenix Parent, L.P., known as Distinguished Programs, for $224 million in cash.
Including an existing interest of approximately 1%, White Mountains now holds a 51% controlling stake in Distinguished Programs. This gives White Mountains majority control over the business, meaning it can direct key decisions and will typically consolidate Distinguished Programs’ financial results in its own reporting.
White Mountains Insurance Group announced a planned CEO succession: Manning Rountree will retire as CEO and director on December 31, 2025, and will become Senior Advisor through January 1, 2028. Liam Caffrey, currently President and CFO, will become CEO and a director on January 1, 2026. Michael Papamichael will succeed Caffrey as CFO and Giles Harrison will become President, both effective January 1, 2026. The filing states there are no arrangements, family relationships, or material transactions requiring disclosure for the new officers, and no material changes to their compensation at this time. The Board approved a letter agreement with Mr. Rountree providing a 2025 cash bonus formula and a $300,000 annual salary during his advisory term, plus restrictive covenants and a mutual release of claims.
White Mountains Insurance Group Ltd filed a Form 13F reporting its institutional holdings. The filing lists a Form 13F Information Table Value Total of $195,529,923 and an Information Table Entry Total of 1. The report is signed by Michaela J. Hildreth, Managing Director and Chief Accounting Officer, dated 08-11-2025. The filing indicates no other included managers and is marked as a 13F Holdings Report.
White Mountains Insurance Group (WTM) filed an 8-K (Item 2.02) to furnish Q2 2025 results released on 7 Aug 2025.
- Bamboo MGA profitability surged: Q2 pre-tax income rose to $15.0 m from $6.0 m YoY; six-month pre-tax income climbed to $25.2 m from $7.3 m.
- Consolidated GAAP figures: Bamboo GAAP pre-tax income reached $16.1 m (vs $6.4 m).
- Investment performance: Total consolidated portfolio return was 2.7 % in Q2 (-0.1 % in Q2 2024) and 4.5 % YTD. Excluding MediaAlpha, returns improved to 2.3 % for Q2 and 4.7 % YTD.
- Equity portfolio: Q2 return of 4.2 %; excluding MediaAlpha 3.4 %.
- Non-GAAP focus: The press release presents 11 non-GAAP metrics for Kudu, Bamboo and portfolio returns, with reconciliations referenced in Exhibit 99.1.
No other material transactions or guidance were disclosed in the filing; the full financial detail resides in the attached press release.