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White Mountains Insurance Group WTM Asset Management (Kudu) — Redeemable NCI

Other segment segments

Specialty Insurance Distribution (Distinguished)
$131.5M
Financial Guarantee (HG Global)
$0
P&C Insurance and Reinsurance (Ark/WM Outrigger)
$0

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Other financials

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

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Market cap$4.99B+9.8%

Profitability

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

Returns & leverage

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

Where this comes from

Reported directly by White Mountains Insurance Group in its filing.

Tagged under the XBRL concept us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount.

The official record: White Mountains Insurance Group’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is White Mountains Insurance Group's asset management (kudu) — redeemable NCI?
White Mountains Insurance Group (WTM) reported asset management (kudu) — redeemable NCI of $0 in Q1 2026.
What does asset management (kudu) — redeemable NCI mean?
This represents the portion of equity in a subsidiary held by third parties that can be redeemed for cash or other assets at the option of the holder. It indicates potential future liquidity obligations for the parent company and highlights the structure of joint ventures or partial ownership stakes. Managing these interests is crucial for understanding the parent company's long-term capital commitments.