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White Mountains Insurance Group WTM Marine & Energy — Cumulative number of reported claims

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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:ShortdurationInsuranceContractsNumberOfReportedClaims.

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
Marine & Energy / $ in Millions / Accident YearMarine & Energy / $ in Millions / Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2016Marine & Energy / $ in Millions / Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2017Marine & Energy / Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2018Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2019Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2020Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2021Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2022Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2023Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2024Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2025As of December 31, 2025 / Total IBNR plus expected development on reported claimsAs of December 31, 2025 / Cumulative number of reported claims
Unaudited
2016$23.8$20.0$16.0$14.9$14.6$15.2$14.5$14.0$13.7$13.83,776
201726.519.717.917.316.916.016.316.416.4.24,141
201826.220.618.118.518.018.417.417.0.23,245
201924.222.022.121.922.321.621.8.42,413
202030.427.729.127.927.627.6.81,594
202187.770.568.475.679.83.81,530
2022150.8154.9157.5218.656.82,083

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's marine & energy — cumulative number of reported claims?
White Mountains Insurance Group (WTM) reported marine & energy — cumulative number of reported claims of 414,100% in Q4 2025.
What does marine & energy — cumulative number of reported claims mean?
This metric tracks the total count of claims reported to the Marine and Energy segment since the inception of the relevant underwriting period. It provides insight into the volume of activity and the frequency of loss events within this specific business line.

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