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

Screener

Other product segments

Property and Accident & Health

$1.52B+316%

Specialty

$918.1M+311%

Casualty-Active

$303.2M+360%

Marine & Energy

$248.1M+2.0%

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

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

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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: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-Runoff / $ 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	26.5	23.3	23.4	24.9	23.6	23.7	22.5	4.2	976
2020		15.9	12.3	13.9	10.9	9.5	9.2	2.3	573
2021			10.5	7.0	5.5	4.5	3.9	1.5	284
2022				.8	2.6	2.6	2.3	1.3	80
2023					2.7	3.6	3.1	1.8	40
2024						1.2	1.1	.5	20
2025							.7	—	41
						Total	$137.0

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's casualty-runoff — incurred loss and LAE, net of reinsurance?: White Mountains Insurance Group (WTM) reported casualty-runoff — incurred loss and LAE, net of reinsurance of $137M in Q4 2025.
How has White Mountains Insurance Group's casualty-runoff — incurred loss and LAE, net of reinsurance changed year-over-year?: White Mountains Insurance Group's casualty-runoff — incurred loss and LAE, net of reinsurance increased by 265.3% year-over-year, from $37.5M to $137M.
What does casualty-runoff — incurred loss and LAE, net of reinsurance mean?: The total cost of claims and associated adjustment expenses incurred during the period, net of reinsurance recoveries. It serves as a primary indicator of the underwriting performance and claims management efficiency within the runoff segment.