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White Mountains Insurance Group WTM Bamboo Captive — Other Operating Expenses

Other segment segments

Financial Guarantee (HG Global)
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Other financials

Income statement

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Revenue$844.6M+22.5%
Gross profit$764.5M+18.2%
Net income$199.5M+62.3%

Balance sheet

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Total debt$932.5M+34.2%
Total equity$5.4B+16.0%
Total assets$13.8B+16.4%

Cash flow

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Operating cash flow-$55.5M-131%

Valuation

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Market cap$5.3B+15.6%
P/E4.7×
P/S1.4×-0.5×

Profitability

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Gross margin94.1%-3.2pp
Net margin29.3%

Returns & leverage

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Return on equity22.4%
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:SupplementaryInsuranceInformationOtherOperatingExpense.

The source filing: White Mountains Insurance Group’s 10-K, filed February 27, 2026.

Filed
Feb 27, 2026, 9:21 AM EST
Fiscal year
FY2025
Accession
0001628280-26-012603
Years ended: / December 31, 2025Column A / Millions / Years ended: / December 31, 2025Column B / Deferred Acquisition CostsColumn C / Future Policy Benefits, Losses, Claimsand Loss ExpensesColumn D / Unearned PremiumsColumn E / Other Policy Claims and Benefits PayableColumn F / Premiums EarnedColumn G / Net Investment IncomeColumn H / Benefits,Claims,Losses and Settlement ExpensesColumn I / Amortizationof Deferred Acquisition CostsColumn J / Other Operating ExpensesColumn K / Premiums Written
Ark/WM Outrigger$211.1$2,481.0$1,026.1$1,697.4$106.5$844.2$374.4$143.9$1,811.6
HG Global96.9327.930.827.18.061.4
Bamboo Captive (1)26.71.818.09.716.1
Bamboo CRV2.513.69.622.21.520.08.31.4
December 31, 2024
Ark/WM Outrigger165.22,127.5853.31,587.890.7855.8294.1136.11,679.1
HG Global86.6297.331.732.28.2.256.0
Bamboo Captive10.217.831.539.41.420.614.150.0

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's bamboo captive — other operating expenses?
White Mountains Insurance Group (WTM) reported bamboo captive — other operating expenses of $0 in Q4 2025.
What does bamboo captive — other operating expenses mean?
General administrative and overhead costs incurred to support the segment's operations, excluding direct claims and acquisition costs. This represents the fixed and variable costs of running the business, such as personnel, technology, and office expenses. Monitoring this helps evaluate the operational efficiency and cost management capabilities of the segment.

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