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White Mountains Insurance Group WTM Specialty — Cumulative Paid Loss and LAE, Net of Reinsurance

Other product segments

Marine & Energy
$1B+128%
Property and Accident & Health
$942.2M+306%
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$110.9M+241%
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$76.2M+686%

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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

See full
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:ShortdurationInsuranceContractsCumulativePaidClaimsAndAllocatedClaimAdjustmentExpenseNet.

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 / Millions / Accident YearSpecialty / Millions / Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2016Specialty / Millions / Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2017Specialty / Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2018Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2019Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2020Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2021Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2022Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2023Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2024Cumulative Paid Loss and LAE, Net of Reinsurance / For the Years Ended December 31, 2025
20215.124.135.834.635.3
202216.162.584.9113.2
202319.276.3109.1
202428.953.8
202524.1
Total411.0
All outstanding liabilities before 2016, net of reinsurance1.1
Loss and LAE reserves, net of reinsurance$508.2

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's specialty — cumulative paid loss and LAE, net of reinsurance?
White Mountains Insurance Group (WTM) reported specialty — cumulative paid loss and LAE, net of reinsurance of $411M in Q4 2025.
How has White Mountains Insurance Group's specialty — cumulative paid loss and LAE, net of reinsurance changed year-over-year?
White Mountains Insurance Group's specialty — cumulative paid loss and LAE, net of reinsurance increased by 384.1% year-over-year, from $84.9M to $411M.
What does specialty — cumulative paid loss and LAE, net of reinsurance mean?
This metric measures the total cash outflows for claims and loss adjustment expenses paid by the Specialty segment, net of reinsurance recoveries, over a specified period. It reflects the actual settlement progress of the segment's insurance obligations.

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