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White Mountains Insurance Group WTM HG Global — Deferred acquisition costs

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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:DeferredPolicyAcquisitionCosts.

The source filing: White Mountains Insurance Group’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 8:50 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053932
Millions, except share and per share amountsJune 30, 2026December 31, 2025
Cash.2.1
BAM Surplus Notes, at fair value352.8339.0
Insurance premiums receivable9.811.4
Deferred acquisition costs98.596.9
Other assets6.05.2
Total Financial Guarantee assets1,216.61,236.8
Specialty Insurance Distribution (Distinguished)
Short-term investments, at fair value79.494.0

Item 1. Financial Statements (Unaudited)

FAQ

What is White Mountains Insurance Group's HG global — deferred acquisition costs?
White Mountains Insurance Group (WTM) reported HG global — deferred acquisition costs of $98.5M in Q2 2026.
What does HG global — deferred acquisition costs mean?
This represents the capitalized costs directly related to the acquisition of new insurance contracts, such as commissions and underwriting expenses, which are amortized over the life of the policies. It reflects the segment's investment in business growth and future revenue generation. Monitoring this balance provides insight into the segment's underwriting profitability and the sustainability of its growth strategy.

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