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White Mountains Insurance Group

WTM

White Mountains Insurance Group is a financial services holding company that specializes in the opportunistic acquisition and active management of businesses within the insurance and financial services sectors.

Market cap
$5.43B+18.7%
Revenue$3.7B+69.3%
Net income$1.0B+165%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 6, 2026 (In 1 week)
Revenue estimate$570.2M
EPS estimate$75.00

Financials

Q1 2026

Income statement

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Revenue$517.8M-10.4%
Gross profit$475.1M-16.7%
Net income-$27.2M-180%

Balance sheet

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Total debt$834.8M+23.5%
Total equity$5.4B+19.2%
Total assets$13.2B+19.7%

Cash flow

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Operating cash flow$30.5M+176%

Valuation & ratios

Valuation

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Market cap$5.43B+18.7%
P/E5.2×
P/S1.5×-0.4×

Profitability

See full
Gross margin94.9%-3.7pp
Net margin28.4%

Returns & leverage

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Return on equity21.2%
Debt / equity0.2×0.0×

Segments

By segment

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P&C Insurance and Reinsurance (Ark/WM Outrigger)$376.3M-8.9%
Asset Management (Kudu)$63.0M-1.3%
Specialty Insurance Distribution (Distinguished)$40.3M
Financial Guarantee (HG Global)$17.2M-46.4%
P&C Insurance Distribution (Bamboo)--100%

Competitors

Profile

White Mountains Insurance Group is a financial services holding company that specializes in the opportunistic acquisition and active management of businesses within the insurance and financial services sectors. The company focuses on building long-term value through its subsidiaries and seeks to maximize risk-adjusted returns by disposing of assets when attractive exit valuations are available.

Competitive position

A value-oriented investor and operator that leverages a flexible capital structure to acquire niche insurance and financial service assets.

GeographiesBermuda, United Kingdom, United States, Global
Customer segmentsFinancial Institutions, Commercial Enterprises, Government Agencies
Business modelHolding Company, Insurance Underwriting, Investment Management, B2B Services
SuppliersThird-party capital providers, Actuarial data services, Financial markets, Regulatory bodies
CustomersInsurance brokers, Managing General Agents (MGAs), Ceding insurance companies, Institutional investors
CountryBermuda
Listed1985
Employees782.0
CEOLiam Caffrey
FilingsSEC EDGAR

Questions, answered.

What is White Mountains Insurance Group's market cap?
White Mountains Insurance Group (WTM) has a market capitalization of $5.4B and trades on NYSE.
What is White Mountains Insurance Group's revenue and profitability?
White Mountains Insurance Group generated $3.7B in trailing twelve-month revenue with net income of $1.0B, representing a net margin of 28.4%. Gross margin stands at 94.9%. These figures are based on the Q1 2026 filing.
Who are White Mountains Insurance Group's competitors?
White Mountains Insurance Group's key competitors include Arch Capital Group Ltd., Assured Guaranty Ltd., Everest Group, Ltd., and others. These companies compete in similar markets and product categories.
Who does White Mountains Insurance Group partner with?
White Mountains Insurance Group's notable partners include Marsh & McLennan Companies, Inc., Arthur J. Gallagher & Co, Aon plc, and others.
What subsidiaries does White Mountains Insurance Group have?
White Mountains Insurance Group's subsidiaries include Ark Insurance Holdings Limited, HG Global Ltd., Kudu Investment Management, LLC, and others.
Where is White Mountains Insurance Group headquartered?
White Mountains Insurance Group is headquartered in Bermuda and employs approximately 782 people. It has been publicly traded since 1985.