What is White Mountains Insurance Group's specialty — 3?

White Mountains Insurance Group (WTM) reported specialty — 3 of 13.2% in Q4 2025.

How has White Mountains Insurance Group's specialty — 3 changed year-over-year?

White Mountains Insurance Group's specialty — 3 increased by 21.1% year-over-year, from 10.9% to 13.2%.

What does specialty — 3 mean?

Measures the cumulative change in estimated ultimate losses for specialty insurance contracts from prior accident years. It serves as a key indicator of long-term underwriting discipline and the adequacy of historical loss provisions.

White Mountains Insurance Group (WTM) Specialty — 3

Screener

Other product segments

Property and Accident & Health

18.4%+0.5%

Marine & Energy

17.3%-11.3%

Casualty-Runoff

15.3%-1.9%

Casualty-Active

11.4%-1.7%

Similar metrics at other companies

HGBermuda - Specialty — 3

14%0.0pp

HGInternational - Specialty — 3

23%-1.0pp

FRHCCivil Liability — 3

11%+5.4pp

FRHCMotor Vehicle — 3

4%-1.0pp

FRHCProperty Damage — 3

30%-2.6pp

FRHCVehicle Owners — 3

2%-0.1pp

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

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:ShortdurationInsuranceContractsHistoricalClaimsDurationYearThree.

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

Specialty	Specialty / Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Specialty / Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Specialty / Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Specialty / Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance	Average Annual Percentage Payout of Incurred Loss and LAE by Age, Net of Reinsurance
Years	1	2	3	4	5	6	7	8	9	10
	18.2%	26.8%	13.2%	8.7%	6.3%	2.5%	2.1%	1.8%	(1.2)%	1.0%

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's specialty — 3?: White Mountains Insurance Group (WTM) reported specialty — 3 of 13.2% in Q4 2025.
How has White Mountains Insurance Group's specialty — 3 changed year-over-year?: White Mountains Insurance Group's specialty — 3 increased by 21.1% year-over-year, from 10.9% to 13.2%.
What does specialty — 3 mean?: Measures the cumulative change in estimated ultimate losses for specialty insurance contracts from prior accident years. It serves as a key indicator of long-term underwriting discipline and the adequacy of historical loss provisions.