What does bamboo captive — premiums earned, net mean?

The portion of net written premiums that corresponds to the expired period of the insurance policies. It represents the revenue recognized by the captive segment after accounting for reinsurance cessions.

White Mountains Insurance Group (WTM) Bamboo Captive — Premiums Earned, Net

Screener

Other segment segments

Asset Management (Kudu)

$0—

P&C Insurance Distribution (Bamboo)

$0—

Specialty Insurance Distribution (Distinguished)

$0—

WTM Partners

$0—

Similar metrics at other companies

GLREInnovations — Premiums Earned, Net

$25.17M+32.4%

MCYOther — Premiums Earned, Net

$7.3M0.0%

ORIOther — Premiums Earned, Net

$2.4M+9.1%

RNRProperty — Premiums Earned, Net

$881.61M+1.6%

METAsia — Premiums Earned, Net

$1.24B-3.2%

METEMEA — Premiums Earned, Net

$698M+11.5%

Other financials

Income statement

See full

Revenue$844.6M+22.5%

Gross profit$764.5M+18.2%

Net income$199.5M+62.3%

Balance sheet

See full

Total debt$932.5M+34.2%

Total equity$5.4B+16.0%

Total assets$13.8B+16.4%

Cash flow

See full

Operating cash flow-$55.5M-131%

Valuation

See full

Market cap$5.3B+15.6%

P/E4.7×—

P/S1.4×-0.5×

Profitability

See full

Gross margin94.1%-3.2pp

Net margin29.3%—

Returns & leverage

See full

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:PremiumsEarnedNet.

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

Column A / $ in Millions Premiums Earned / Year ended: / December 31, 2025	Column B / Gross Amount	Column C / Ceded to Other Companies	Column D / Assumed from Other Companies	Column E / Net Amount	Column F / Percentage of Amount Assumedto Net
Ark/WM Outrigger	$1,130.9	$(632.4)	$1,198.9	$1,697.4	70.6%
HG Global	—	—	30.8	30.8	100.0
Bamboo Captive (1)	—	(2.0)	28.7	26.7	107.5
Bamboo CRVs	—	—	22.2	22.2	100.0
December 31, 2024
Ark/WM Outrigger	1,004.2	(504.6)	1,088.2	1,587.8	68.5
HG Global	15.8	—	15.9	31.7	50.2
Bamboo Captive	—	(4.0)	43.4	39.4	110.2

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's bamboo captive — premiums earned, net?: White Mountains Insurance Group (WTM) reported bamboo captive — premiums earned, net of $6.68M in Q4 2025.
How has White Mountains Insurance Group's bamboo captive — premiums earned, net changed year-over-year?: White Mountains Insurance Group's bamboo captive — premiums earned, net decreased by 32.2% year-over-year, from $9.85M to $6.68M.
What does bamboo captive — premiums earned, net mean?: The portion of net written premiums that corresponds to the expired period of the insurance policies. It represents the revenue recognized by the captive segment after accounting for reinsurance cessions.