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White Mountains Insurance Group WTM Specialty Insurance Distribution (Distinguished) — Acquisition expenses

Other segment segments

P&C Insurance and Reinsurance (Ark/WM Outrigger)
$98.8M+17.9%
Financial Guarantee (HG Global)
$2.1M+10.5%
Asset Management (Kudu)
$0
P&C Insurance Distribution (Bamboo)
$0-100%

Similar metrics at other companies

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PGRDistribution expenses
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ORISpecialty Insurance Group — Underwriting Acquisition And Other Expenses
$449.9M+14.3%
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$375M+9.3%
Progressive logo
PGRUnderwriting operations — Distribution expenses
$2.97B+12.6%
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AXSInsurance — Acquisition costs
$223.77M+15.3%
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ACGLInsurance — Acquisition expense ratio
20%+1.5pp

Other financials

Income statement

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Revenue$517.8M-10.4%
Gross profit$475.1M-16.7%
Net income-$27.2M-180%

Balance sheet

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Total debt$834.8M+23.5%
Total equity$5.4B+19.2%
Total assets$13.2B+19.7%

Cash flow

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Operating cash flow$30.5M+176%

Valuation

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Market cap$4.99B+9.8%

Profitability

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Gross margin94.9%-3.7pp
Net margin28.4%

Returns & leverage

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Return on equity21.2%
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:DeferredPolicyAcquisitionCostAmortizationExpense.

The official record: White Mountains Insurance Group’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is White Mountains Insurance Group's specialty insurance distribution (distinguished) — acquisition expenses?
White Mountains Insurance Group (WTM) reported specialty insurance distribution (distinguished) — acquisition expenses of $0 in Q1 2026.
What does specialty insurance distribution (distinguished) — acquisition expenses mean?
Captures the costs directly associated with acquiring new insurance policies or distribution contracts, such as commissions paid to brokers and underwriting expenses. This metric is a key efficiency indicator for insurance distribution businesses, reflecting the cost of customer acquisition relative to revenue. High acquisition expenses relative to premiums can indicate competitive pressure or high growth investment.