HAMILTON, Bermuda, Sept. 2, 2025 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) ("White Mountains") announced today that its Board of Directors has unanimously elected Liam Caffrey as Chief Executive Officer, effective January 1, 2026.  In addition, Mr. Caffrey will join the White Mountains Board at that time.Mr. Caffrey, who currently serves as President and Chief Financial Officer of White Mountains, will succeed current Chief Executive Officer Manning Rountree, who will retire as CEO a ...

Core Insights - White Mountains Insurance Group reported Q2 2025 earnings per share (GAAP) of $47.75, missing the analyst estimate of $57.00 by 16.2% [1] - Total revenue (GAAP) reached $689.2 million, a significant increase of 74.4% compared to Q2 2024 [1][2] - Book value per share rose to $1,803.57, up 4.7% from $1,722.02 a year earlier [1][2] Financial Metrics - Diluted EPS (GAAP) for Q2 2025 was $47.75, compared to $(21.24) in Q2 2024 [2] - Revenue (GAAP) was $689.2 million, up from $395.4 million in Q2 2024, reflecting a 74.4% year-over-year increase [2] - Book Value per Share increased to $1,803.57 from $1,722.02, marking a 4.7% rise [2] - Ark/WM Outrigger Combined Ratio improved to 84.4% from 87.0%, a decrease of 2.6 percentage points [2] - Gross Written Premiums for Ark/WM Outrigger were $815.2 million, up 17.0% from $697.0 million in Q2 2024 [2] - MGA Adjusted EBITDA for Bamboo reached $25.6 million, a 122.6% increase from $11.5 million in Q2 2024 [2] Company Overview - White Mountains Insurance Group operates as a diversified insurance holding company, focusing on property & casualty insurance, reinsurance, and specialty distribution [3] - Key subsidiaries include Ark, WM Outrigger, Bamboo, HG Global, and Kudu, each serving distinct roles in the insurance and investment sectors [3] Strategic Focus - Current priorities include disciplined underwriting, risk management, maximizing investment returns, and expanding through strategic acquisitions [4] - Growth in core businesses like Ark and Bamboo is emphasized, alongside maintaining a strong capital base [4] Segment Performance - Ark experienced significant premium growth with gross written premiums rising 17% year-over-year to $815 million, and the combined ratio improved to 85% [5] - WM Outrigger faced volatility due to catastrophe losses, impacting pre-tax income [5] - Bamboo reported record commission and fee revenue of $59 million, with managed premiums of $191 million, despite facing claims from California wildfires [5] - Kudu's revenue dropped to $20 million due to lower investment gains, while HG Global saw improvements in gross written premium and pre-tax income [6] Investment Performance - The consolidated portfolio returned 2.7%, underperforming compared to the S&P 500's 10.9% return [7] - MediaAlpha contributed positively to investment income as its share price increased [7] - Ark reported net realized and unrealized investment gains of $51 million, up from $20 million in Q2 2024 [7] Future Outlook - No specific financial outlook or guidance was provided for the upcoming quarter or fiscal 2025 [8] - Management highlighted opportunities for growth, particularly at Bamboo and Ark, with approximately $300 million in undeployed capital available for future investments [8]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-8993 WHITE MOUNTAINS INSURANCE GROUP, LTD. (Exact name of Registrant as specified in its charter) Bermuda (State or other jurisdiction of incorporation ...

Exhibit 99.1 CONTACT: Rob Seelig (603) 640-2212 WHITE MOUNTAINS REPORTS SECOND QUARTER RESULTS HAMILTON, Bermuda (August 7, 2025) - White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,804 as of June 30, 2025, an increase of 3% for both the second quarter of 2025 and the first six months of 2025, including dividends. Manning Rountree, CEO, commented, "BVPS was up 3% in the quarter. We had sound results at our operating companies and good investment returns. Ark produced an 8 ...

Summary of Waratah Minerals (WTM) Conference Call Company Overview - Waratah Minerals is focused on gold exploration in the Lachlan Fold Belt, particularly near Cadia Valley and Cowal, which are significant gold mining areas [3][12][34]. Key Points and Arguments - **Share Price Surge**: The company's share price increased by 41% on the day of the conference, indicating strong market interest and excitement around recent developments [1]. - **Exploration Strategy**: Waratah Minerals has been executing a unique exploration strategy over the past eighteen months, differentiating itself from previous explorers in the area [3][5]. - **Significant Discoveries**: The company reported notable drill results, including hits of 250 grams per meter, which are indicative of substantial gold endowment in the Spur Gold Corridor [4][7]. - **Proof of Concept**: The company has achieved proof of concept, demonstrating serious metal endowment and positioning itself to accelerate discovery events [7][30]. - **Geological Insights**: The exploration strategy focuses on the margins of magnetic highs, which are associated with mineralization, rather than drilling directly into the main intrusive complexes [16][21]. - **Comparison to Successful Mines**: The Spur Gold Corridor is compared to the GRE46 ore body at Evolution's Cowal Mine, which has seen significant success, suggesting a similar potential for Waratah's discoveries [22][32]. - **Technical Team**: The company has a strong technical team with experience in the region, enhancing its exploration capabilities [6][33]. - **Future Plans**: Waratah plans to increase the number of drill rigs and continue both extensional and infill drilling to build resources quickly [36][37]. Additional Important Content - **Market Context**: The conference highlighted the competitive landscape, with major mining companies like AngloGold and Newmont showing interest in the region, indicating a robust investment environment [13][14]. - **Visible Gold and Mineral Associations**: The presence of visible gold and associations with elements like tellurium and bismuth point to the fertility of the mineral system [25][29]. - **Cash Position**: The company is in a strong cash position, allowing for continued investment in exploration and development [35]. This summary encapsulates the key insights and developments discussed during the Waratah Minerals conference call, emphasizing the company's strategic direction and potential in the gold exploration sector.

Company Overview - Waratah Minerals has 234 million shares on issue with ASX code WTM[5] - The share price as of August 1, 2025, was A$0.30, resulting in a market capitalization of $70 million[5] - The company held $7.5 million in cash at bank as of June 30, 2025[5] - Board and Management hold 11.2% of shares (fully diluted)[5] Spur Project Highlights - The Spur Project is located in the Cadia-Spur district, surrounded by major mining companies, indicating strategic mineral district[12, 14] - The project has a district-scale land position with 100% ownership[15] - Exploration has identified a large epithermal-porphyry corridor with two high-value exploration targets: epithermal gold and porphyry gold-copper[16] - Drilling results include 11m @ 10.82 g/t Au from 154m (SPRC002), 89m @ 1.73 g/t Au, 0.08% Cu from 115m (SPRC007), and 196m @ 0.54% CuEq, 0.35% Cu, 0.23 Au g/t from 1m (BZD001)[18] - Stepout drilling at the Spur Gold Corridor – Consols Zone, returned 208.7m @ 1.17 g/t Au from 514m, including 89m @ 1.96 g/t Au from 614m and 38m @ 3.61 g/t Au from 665m[47] - Porphyry copper-gold mineralization was intersected at Breccia West, with results including 84m @ 0.62% CuEq, 0.40% Cu, 0.26g/t Au from 29m (BZD001)[55] Macquarie Arc and Analogues - The Macquarie Arc hosts world-class gold-copper mines, with A$1.6 billion in mining M&A and A$300 million in JVs since 2023[11] - The Spur Project shares exploration criteria similarities with Cadia Valley (Newmont) and Cowal (Evolution Mining)[60, 63]

Summary of Waratah Minerals Conference Call Company Overview - Waratah Minerals is a gold and copper exploration company focused on the Spur project, which is believed to be evolving into a world-class discovery [2][3] Key Highlights - The Spur project was acquired 18 months ago and has shown consistent success in exploration [2] - The company has a strong technical team with experience in significant global discoveries [3] - There is a strategic influx of investment from major companies into the region, indicating a robust exploration environment [3] Exploration Strategy - The exploration strategy is based on the understanding that mineralization occurs near major intrusive complexes [4] - The company has increased its drilling capacity to three rigs, focusing on multiple exploration fronts [4][7] - Recent drilling has revealed significant gold intercepts, including 57 meters at 2.5 grams per ton [6] Financial Position - The company is well-funded, with recent capital raises attracting North American institutional investors [5] - The share price has begun to reflect the positive developments in the exploration results [6] Geological Insights - The geological model indicates that mineralization is likely located on the edges of magnetic highs, which has been validated through recent drilling [14][15] - The company has drilled approximately 25,000 meters, with a shift towards more core-based drilling techniques [13] Comparisons and Analogues - The Spur project shows similarities to the Cowal and Cadia Valley systems, which are known for their significant gold endowments [9][17] - Cowal is currently producing approximately $70 million in free cash flow per quarter, highlighting the potential profitability of similar discoveries [17] Future Plans - The company is ramping up its geometallurgical work and resource definition drilling [18] - There is a focus on high-grade zones within the Spur Gold Corridor, with ongoing exploration to define the extent of mineralization [19][20] Conclusion - Waratah Minerals is positioned in a promising exploration area with a strong technical team and financial backing, aiming to capitalize on the emerging discoveries at the Spur project [2][3][5]

Investor Presentation For personal use only JULY 2025 ASX:WTM Creating value for Spur Project Azura Project Stavely -Stawell Project For personal use only our stakeholders through discovery Investment Highlights ASX:WTM 2 Exploring For World -Class Gold -Copper Deposits Creating value for our stakeholders through discovery High Calibre Discovery Team Experienced team with a track record of discovery Strategic Position in Major Gold -Copper District Majors actively exploring and investing Discovery 'Proof of ...

Core Viewpoint - White Mountains Insurance Group, Ltd. has announced an agreement to acquire a 51% controlling interest in Distinguished Programs, a managing general agent (MGA) and program administrator for specialty property and casualty insurance, for approximately $230 million [1][4][4]. Company Overview - Distinguished Programs is an MGA and program manager that places over $550 million in premiums annually across 12 specialty property and casualty programs, including commercial real estate, hotels and restaurants, community associations, environmental and construction professional, cyber, surety, executive lines, inland marine, and fine arts and collectibles [2][6]. - The company has been operational since 1995 and manages all aspects of the insurance placement process, earning commissions based on volume and profitability [6]. Transaction Details - White Mountains will acquire approximately 50% of Distinguished's outstanding equity interests, increasing its ownership from about 1% to 51% [4]. - The transaction is expected to close in the third quarter of 2025, pending regulatory approvals and customary closing conditions [4]. Management and Stakeholders - Aquiline Capital Partners, the current controlling equityholder, will retain a significant minority equity stake in Distinguished [3]. - The existing executive management team of Distinguished, led by industry veterans Bill Malloy, Jason Rotman, and Steve Sitterly, will continue to lead the business and remain significant equityholders [3][4].

Summary of White Mountains Insurance Group (WTM) 2025 Investor Day Company Overview - **Company**: White Mountains Insurance Group (WTM) - **Event**: 2025 Investor Day held on June 6, 2025 Key Financial Highlights - **2024 Performance**: - Adjusted book value per share increased by 8% - Stock price rose by 29% - Investment portfolio grew by 5.4% - Strong operating results from ARC, Outrigger, and Bamboo [5][6][7] - **Capital Deployment**: - No new capital deployments in 2024 - Two investments in 2025: minority investment in Broadstreet (large insurance broker) and control investment in Enterprise Solutions [6][7] Industry Insights - **P&C Industry Performance**: - 2024 was a strong year for the Property and Casualty (P&C) industry - WTM's P&C businesses (ARC and Bamboo) outperformed peers, while non-P&C businesses lagged [7] - **Investment Strategy**: - Focus on compounding per share values over long periods - Targeting a full equity return for shareholders, aiming for a ten-year T-bill plus 700 basis points [7] Capital and Financial Position - **Current Capital**: - Total capital of $5.8 billion, primarily in shareholders' equity - No financial leverage at the parent level, but prudent leverage at operating businesses [12][13] - **Undeployed Capital**: - Approximately $550 million at the end of Q1 2025, pro forma for Broadstreet and Enterprise Solutions acquisitions [12][13] Operating Businesses Overview - **ARC**: - Specialty P&C insurance and reinsurance business - Achieved a combined ratio of 83% and book value growth in the high 20s [22][23] - Gross written premium increased by mid-20s percentage year-on-year [26] - **Outrigger**: - Sidecar vehicle established to capture opportunities in property cat risks - Earned a 37% return in 2023, projected 32% for 2025 [48][49] - **Kudu**: - Provides capital solutions to boutique asset and wealth managers - Approaching self-sustainability with $150 million of annual deployments [81][82] Market Dynamics - **Property Market**: - Observed softening in property rates despite significant losses from events like California wildfires - Capital influx leading to a more competitive environment [57][60] - **Casualty Market**: - Rates rising by 5% to 10%, but concerns about adequacy in the context of social inflation [71][76] Strategic Focus - **Investment Philosophy**: - Emphasis on control positions in insurance and financial services, with over 95% of capital in these sectors [16][17] - **Management Alignment**: - Significant ownership by management teams to align incentives [18] Additional Insights - **Geopolitical Risks**: - Ongoing uncertainties in global markets, particularly related to geopolitical tensions, are seen as potential opportunities [39][41] - **Technological Advancements**: - Anticipation of efficiency gains through AI and continued focus on cyber insurance as a growth area [44] This summary encapsulates the key points discussed during the White Mountains Insurance Group's 2025 Investor Day, highlighting financial performance, industry insights, and strategic focus areas.