Financial Performance - Ark reported gross written premiums of $697 million, up 15% year-over-year, with a combined ratio of 89% in Q2 2024[2][3]. - BAM's gross written premiums and member surplus contributions increased to $28 million in Q2 2024, up 7% year-over-year, with total insured municipal bonds reaching $5.3 billion[7][8]. - Kudu's total revenues increased to $70 million in Q2 2024, with pre-tax income rising to $61 million compared to $19 million and $10 million in Q2 2023[11]. - Bamboo's managed premiums tripled year-over-year to $120 million in Q2 2024, driven by strong new business volume and an expanding renewal book[13][15]. - Total revenues for the three months ended June 30, 2024, increased to $395.4 million from $378.4 million in the same period last year, representing a growth of 4.6%[29]. - Total P&C Insurance and Reinsurance revenues for the six months ended June 30, 2024, were $700.1 million, up from $610.5 million in the same period last year[29]. - Total revenues for the six months ended June 30, 2024, were $1,042.7 million, an increase from $910.3 million in the same period of 2023, representing a growth of approximately 14.5%[40]. Investment Performance - Total consolidated portfolio return was -0.1% in Q2 2024, but 2.2% excluding MediaAlpha[19][20]. - The company reported net realized and unrealized investment gains of $95.1 million for the six months ended June 30, 2024, compared to $201.6 million in 2023, indicating a decrease of about 52.8%[40]. - Net investment income for the three months ended June 30, 2024, was $22.3 million, up from $13.7 million in the same period last year[29]. - Net investment income for the six months ended June 30, 2024, was $114.4 million, compared to $82.0 million in 2023, reflecting an increase of approximately 39.5%[40]. Shareholder Equity and Book Value - Book value per share decreased by 1% to $1,722 and adjusted book value per share decreased by 1% to $1,777 as of June 30, 2024[1]. - The company's common shareholders' equity rose to $4,422.6 million as of June 30, 2024, up from $3,922.2 million a year ago, indicating a growth of 12.8%[26]. - GAAP book value per share decreased by 1.2% quarter-to-date to $1,722.02, while adjusted book value per share decreased by 1.1% to $1,776.89[28]. - Year-to-date change in GAAP book value per share, including dividends, was 4.0%[28]. Expenses and Losses - Total expenses for the three months ended June 30, 2024, increased to $430.1 million from $361.0 million in the same period last year[31]. - Loss and loss adjustment expenses for the three months ended June 30, 2024, were $175.7 million, compared to $167.5 million in the same period last year[31]. - Loss and loss adjustment expenses totaled $369.7 million for the six months ended June 30, 2024, compared to $315.3 million in 2023, marking an increase of about 17.2%[41]. - Acquisition expenses for the three months ended June 30, 2024, were $75.9 million, up from $62.9 million in the same period of 2023, reflecting an increase of approximately 21%[36][38]. Capital and Reserves - Undeployed capital stands at approximately $650 million as of Q2 2024[2]. - Loss and loss adjustment expense reserves for P&C Insurance and Reinsurance stood at $1,890.1 million as of June 30, 2024, compared to $1,421.0 million a year earlier, reflecting a 33.0% increase[27]. - Unearned insurance premiums for P&C Insurance and Reinsurance increased to $1,526.1 million as of June 30, 2024, from $1,376.5 million a year earlier, representing an increase of 10.9%[27]. - Total liabilities reached $5,294.7 million as of June 30, 2024, compared to $4,250.4 million a year earlier, indicating a year-over-year increase of 24.6%[27]. Market Conditions and Risks - White Mountains anticipates future capital expenditures to support business expansion and growth strategies[70]. - White Mountains' forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expectations[71]. - The company highlights potential claims arising from catastrophic events, including hurricanes and public health crises[71]. - There is a risk that recorded loss reserves may prove to be inadequate[71]. - The market value of White Mountains' investment in MediaAlpha is a point of concern[71]. - The ongoing trends and uncertainties from the COVID-19 pandemic may impact business opportunities[71]. - Actions taken by rating agencies could affect financial strength or credit ratings[71]. - The availability of capital and financing remains a critical factor for the company[71]. - Competitive forces and the conduct of other insurers are influencing market conditions[71]. - Changes in domestic or foreign laws or regulations could impact operations[71]. Dividends and Share Repurchases - The company declared dividends of $1.00 per common share for the six months ended June 30, 2024, consistent with the same period in 2023[34]. - White Mountains did not repurchase any common shares in Q2 2024, but repurchased 5,269 shares for $8 million in the first half of 2024[20]. - In Q2 2023, White Mountains repurchased 5,542 common shares for $7 million at an average price of $1,336.68, representing 85% of the adjusted book value per share[21]. - In the first half of 2023, the company repurchased 24,165 common shares for $33 million at an average price of $1,354.88, or 86% of the adjusted book value per share[21].

HAMILTON, Bermuda, Aug. 7, 2024 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,722 and adjusted book value per share of $1,777 as of June 30, 2024. Book value per share and adjusted book value per share both decreased 1% in the second quarter of 2024 and increased 4% in the first six months of 2024, including dividends. Manning Rountree, CEO, commented, "ABVPS was down 1% in the quarter, due primarily to our investment in MediaAlpha. Excluding MediaAlph ...

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 March 31, 2024 OR Bermuda (State or other jurisdiction of incorporation or organization) 94-2708455 23 South Main Street, Suite 3B (I.R.S. Employer Identification No.) Hanover, 03755-2053 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commis ...

Exhibit 99.1 Ark's combined ratio was 94% in both the first quarter of 2024 and 2023. Ark's combined ratio in the first quarter of 2024 included slight net favorable prior year development compared to three points of net unfavorable prior year development in the first quarter of 2023, primarily due to Winter Storm Elliott. Ark's combined ratio in the first quarter of 2024 and 2023 both included minimal catastrophe losses. Non-catastrophe losses in the first quarter of 2024 included $15 million on a net basi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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 94-2708455 (State or other jurisdiction ...

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 September 30, 2023 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 incorpora ...

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, 2023 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ☐ 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 or organization) 94-2708455 23 South Main Street, Suite 3B (I.R.S. Employer Identification No.) Hanover, 03755-2053 (Address of principal ...

Financial Performance - White Mountains ended 2022 with a book value per share of $1,457, reflecting a 24% increase, and an adjusted book value per share of $1,495, which increased by 26% including dividends [285]. - Comprehensive income attributable to common shareholders was $788 million in 2022, a significant recovery from a loss of $(273) million in 2021 [285]. - Net income attributable to White Mountains's common shareholders was $792.8 million in 2022, compared to a loss of $275.4 million in 2021 [310]. - Total revenues for 2022 reached $1,157.9 million, a significant increase from $614.4 million in 2021, marking an 88% rise [310]. - The company reported total expenses of $1,307.3 million in 2022, up from $888.0 million in 2021, an increase of 47% [310]. - The company reported a pre-tax loss of $135.0 million in the Financial Guarantee segment for 2022, worsening from a loss of $42.4 million in 2021 [310]. Insurance Operations - Ark reported gross written premiums of $1,452 million in 2022, up from $1,059 million in 2021, with a GAAP combined ratio improving to 82% from 87% [289]. - P&C Insurance and Reinsurance revenues rose to $1,009.5 million in 2022, up from $668.5 million in 2021, indicating a 51% increase [310]. - Ark's GAAP combined ratio improved to 82% in 2022 from 87% in 2021, with catastrophe losses contributing 13 points in 2022 compared to 10 points in 2021 [344]. - The adjusted combined ratio for Ark was 81% in 2022, down from 85% in 2021, reflecting similar underlying drivers as the GAAP combined ratio [345]. - Gross written premiums and MSC collected in the HG Global/BAM segment totaled $147 million in 2022, up from $118 million in 2021 [317]. Investment Performance - The total consolidated portfolio return on invested assets was -1.6% in 2022, including $93 million of net unrealized investment losses from MediaAlpha [293]. - White Mountains's investment in MediaAlpha was valued at $169 million as of December 31, 2022, down from $262 million in 2021 [292]. - The portfolio of common equity securities, including MediaAlpha, returned 2.3% in 2022, impacted by $93 million of net unrealized investment losses from MediaAlpha [374]. - Other long-term investments returned 10.5% in 2022, down from 20.7% in 2021, driven by net investment income and gains from Kudu's Participation Contracts [378]. - The total investment portfolio was valued at $5,170 million as of December 31, 2022, an increase from $4,265.3 million in 2021, with fixed maturity investments comprising 37.2% of the total [390]. Shareholder Returns - White Mountains repurchased 461,256 common shares for $616 million at an average price of $1,335.11, representing 92% of book value per share [287]. - Year-to-date dividends paid per share remained stable at $1.00 for both 2022 and 2021 [306]. - White Mountains declared and paid a $3 million cash dividend to common shareholders during 2022 [433]. - During 2022, Ark paid $21 million in dividends to shareholders, with $15 million paid to White Mountains [418]. - Kudu distributed $110 million to unitholders in 2022, with $100 million paid to White Mountains [419]. Debt and Capital Structure - Total debt from continuing operations increased to $575.2 million as of December 31, 2022, compared to $420.9 million in 2021 [421]. - The total adjusted capital of White Mountains as of December 31, 2022, was $4,742.9 million, with a total debt to total adjusted capital ratio of 12.1% [421]. - As of December 31, 2022, BAM's debt service model indicated that the BAM Surplus Notes would be fully repaid approximately six years prior to final maturity [325]. Transactions and Acquisitions - The net gain from the NSM Transaction contributed $876 million in Q3 2022, with $1.4 billion in net cash proceeds received at closing [286]. - The company recognized a net gain of $876 million from the NSM Transaction, which closed on August 1, 2022, with net cash proceeds of $1.4 billion [400]. - On December 20, 2022, White Mountains purchased 100% of the non-voting redeemable preference shares issued by WM Outrigger Re for $205 million [437]. Operational Performance - Kudu's total revenues were $119 million in 2022, with pre-tax income of $89 million, compared to $134 million and $108 million respectively in 2021 [291]. - Kudu's adjusted EBITDA increased to $42 million in 2022 from $33 million in 2021, demonstrating improved operational performance despite lower revenues [355]. - White Mountains's Other Operations reported a pre-tax loss of $198 million in 2022, an improvement from a loss of $392 million in 2021 [358]. Tax and Cash Flow - The effective tax rate for White Mountains was impacted by losses in jurisdictions with lower tax rates and a full valuation allowance on net deferred tax assets in certain U.S. operations [398]. - Cash flows from operations for 2022 were $326 million, a significant increase from $(4) million in 2021 [432]. - The company expects its cash balances and cash flows from operations to be adequate to meet expected cash requirements for the foreseeable future [408].

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 September 30, 2022 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 incorpora ...