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White Mountains Insurance Group WTM Bamboo Captive — Deferred Acquisition Costs

Other segment segments

HG Global/BAM - Segment
$96.9M+11.9%

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$7.58B+4.4%

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:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersDeferredPolicyAcquisitionCosts.

The official record: White Mountains Insurance Group’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is White Mountains Insurance Group's bamboo captive — deferred acquisition costs?
White Mountains Insurance Group (WTM) reported bamboo captive — deferred acquisition costs of $0 in Q4 2025.
What does bamboo captive — deferred acquisition costs mean?
Represents the capitalized costs associated with acquiring new insurance contracts that are expected to be recovered from future premiums. This asset reflects the upfront investment in policy issuance, such as commissions and underwriting expenses, which are amortized over the life of the policy. It is a key indicator of the company's growth strategy and the long-term value of its insurance portfolio.