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White Mountains Insurance Group WTM HG Global — Insurance acquisition expenses

Other segment segments

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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:DeferredPolicyAcquisitionCostAmortizationExpense.

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
MillionsThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Interest expense7.26.114.312.5
Total Asset Management expenses11.99.723.220.1
Financial Guarantee (HG Global)
Insurance acquisition expenses2.12.04.23.9
General and administrative expenses4.21.04.91.6
Interest expense3.74.57.39.1
Total Financial Guarantee expenses10.07.516.414.6
Specialty Insurance Distribution (Distinguished)

Item 1. Financial Statements (Unaudited)

FAQ

What is White Mountains Insurance Group's HG global — insurance acquisition expenses?
White Mountains Insurance Group (WTM) reported HG global — insurance acquisition expenses of $2.1M in Q2 2026.
What does HG global — insurance acquisition expenses mean?
These are the costs directly associated with acquiring new insurance business, including commissions, brokerage fees, and other underwriting-related expenses. This metric is a key component of the segment's expense ratio and reflects the cost-efficiency of the segment's sales and distribution strategy. Lower costs relative to premiums earned indicate higher underwriting efficiency.

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