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White Mountains Insurance Group WTM Specialty — 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
Specialty / $ in Millions / Accident YearSpecialty / $ in Millions / Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2016Specialty / $ in Millions / Incurred Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2017Specialty / 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
2016$18.5$14.5$11.1$11.4$12.0$12.0$9.1$8.6$12.5$12.2$.21,936
201718.313.212.311.811.910.910.611.211.12,201
201814.716.617.016.215.115.916.917.5.92,129
201922.119.818.925.930.120.026.8.72,396
202024.523.519.320.417.317.71.32,028
202171.863.051.844.041.76.61,735
2022181.9178.5172.6179.658.31,577
2023216.6199.4153.441.31,734

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's specialty — cumulative number of reported claims?
White Mountains Insurance Group (WTM) reported specialty — cumulative number of reported claims of 239,600% in Q4 2025.
How has White Mountains Insurance Group's specialty — cumulative number of reported claims changed year-over-year?
White Mountains Insurance Group's specialty — cumulative number of reported claims increased by 0.4% year-over-year, from 238,700% to 239,600%.
What does specialty — cumulative number of reported claims mean?
This metric tracks the total volume of insurance claims reported to the Specialty segment since the inception of the relevant underwriting period. It provides insight into the frequency of claims activity and the operational scale of the segment's insurance portfolio.

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