White Mountains to Acquire a Majority Stake in Distinguished Programs

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].