White Mountains Insurance Group (WTM) Casualty-Active — Incurred Loss and LAE, Net of Reinsurance

Screener

Other product segments

Property and Accident & Health

$1.52B+316%

Specialty

$918.1M+311%

Marine & Energy

$248.1M+2.0%

Casualty-Runoff

$137M+265%

Similar metrics at other companies

KGInternational — Incurred loss and LAE, net of reinsurance

56,319,200,000%+47,637,100,000pp

AFGProperty and casualty insurance — Incurred Claims and Allocated LAE, Net of Reinsurance

$28.8B+653%

KGGeneral Liability — Incurred loss and LAE, net of reinsurance

111,127,700,000%+93,742,400,000pp

KGWorkers' Compensation — Incurred loss and LAE, net of reinsurance

359,392,200,000%+301,985,500,000pp

WRBCasualty — Loss and loss expenses incurred, net of reinsurance

$4.01B+736%

KGAll other lines — Incurred loss and LAE, net of reinsurance

48,915,900,000%+38,595,200,000pp

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

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:ShortdurationInsuranceContractsIncurredClaimsAndAllocatedClaimAdjustmentExpenseNet.

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

Casualty-Active / $ in Millions / Accident Year	Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2019	Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2020	Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2021	Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2022	Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2023	Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2024	Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2025	As of December 31, 2025 / Total IBNR plus expected development on reported claims	As of December 31, 2025 / Cumulative number of reported claims
2019	14.8	13.7	12.3	10.6	11.4	13.0	14.4	1.4	1,062
2020		13.5	12.1	10.9	9.2	8.8	9.5	1.7	731
2021			21.4	22.4	16.6	16.3	21.7	4.1	1,050
2022				33.0	38.1	34.7	17.3	9.8	1,774
2023					61.0	65.9	57.1	39.4	2,234
2024						60.0	82.0	71.9	2,171
2025							68.2	63.4	1,723
						Total	$303.2

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's casualty-active — incurred loss and LAE, net of reinsurance?: White Mountains Insurance Group (WTM) reported casualty-active — incurred loss and LAE, net of reinsurance of $303.2M in Q4 2025.
How has White Mountains Insurance Group's casualty-active — incurred loss and LAE, net of reinsurance changed year-over-year?: White Mountains Insurance Group's casualty-active — incurred loss and LAE, net of reinsurance increased by 360.1% year-over-year, from $65.9M to $303.2M.
What does casualty-active — incurred loss and LAE, net of reinsurance mean?: The total losses and loss adjustment expenses incurred during the period for the Casualty-Active segment, net of reinsurance recoveries. This is a key indicator of underwriting performance and the profitability of the insurance products within this segment.