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White Mountains Insurance Group WTM Specialty Insurance Distribution (Distinguished) — Broker Commission Expense

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P&C Insurance Distribution (Bamboo)
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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 wtm:BrokerCommissionExpense.

The source filing: White Mountains Insurance Group’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 8:50 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-053932
MillionsThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Interest expense3.74.57.39.1
Total Financial Guarantee expenses10.07.516.414.6
Specialty Insurance Distribution (Distinguished)
Broker commission expenses23.340.5
General and administrative expenses41.078.2
Interest expense3.67.1
Total Specialty Insurance Distribution expenses67.9125.8
Services, Industrial and Consumer (WTM Partners)

Item 1. Financial Statements (Unaudited)

FAQ

What is White Mountains Insurance Group's specialty insurance distribution (distinguished) — broker commission expense?
White Mountains Insurance Group (WTM) reported specialty insurance distribution (distinguished) — broker commission expense of $23.3M in Q2 2026.
What does specialty insurance distribution (distinguished) — broker commission expense mean?
Costs incurred by the segment for commissions paid to third-party brokers or agents for the placement of insurance business. This expense is a critical component of the segment's cost structure and directly impacts its net profitability.

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