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White Mountains Insurance Group WTM Marine & Energy — Prior Year

Other product segments

Property and Accident & Health
-$91.7M-414%
Specialty
-$27.2M-179%
Casualty-Active
$4.3M-4.4%

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MKLMarine and energy — Incurred losses and loss adjustment expenses, prior accident years
-$42.6M-192%
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$20M+150%
Allstate logo
ALLAuto — Prior years
-$648M-50.3%
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ALLHomeowners — Prior years
$66M+120%
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GLHealth premium — Prior years
-$3.37M-157%

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:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense.

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
MillionsYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Net loss and LAE reserves1,693.11,264.3791.5
Loss and LAE incurred relating to:
Current year losses956.9914.4706.9
Prior year losses(112.7)(58.6)19.9
Net incurred loss and LAE844.2855.8726.8
Loss and LAE paid relating to:
Current year losses(205.6)(109.2)(51.3)
Prior year losses(380.1)(307.5)(356.6)

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's marine & energy — prior year?
White Mountains Insurance Group (WTM) reported marine & energy — prior year of $1.18M in Q4 2025.
What does marine & energy — prior year mean?
This metric represents the prior year development of loss and loss adjustment expense reserves for the Marine and Energy insurance segment. It reflects the change in estimated liabilities for claims occurring in previous periods, serving as a key indicator of reserve adequacy and underwriting accuracy.

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