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White Mountains Insurance Group WTM Specialty — Prior Year

Other product segments

Property and Accident & Health
-$91.7M-414%
Marine & Energy
$4.7M
Casualty-Active
$4.3M-4.4%

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-$63M-80.0%
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$20.1M-50.4%
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JRVRSpecialty Admitted Insurance — Prior years - excluding retroactive reinsurance
-$65K+46.3%
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ACGLCasualty — Prior years
$20M+150%

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:SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense.

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
MillionsYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Net loss and LAE reserves1,693.11,264.3791.5
Loss and LAE incurred relating to:
Current year losses956.9914.4706.9
Prior year losses(112.7)(58.6)19.9
Net incurred loss and LAE844.2855.8726.8
Loss and LAE paid relating to:
Current year losses(205.6)(109.2)(51.3)
Prior year losses(380.1)(307.5)(356.6)

Item 16. Form 10-K Summary.

FAQ

What is White Mountains Insurance Group's specialty — prior year?
White Mountains Insurance Group (WTM) reported specialty — prior year of -$6.8M in Q4 2025.
How has White Mountains Insurance Group's specialty — prior year changed year-over-year?
White Mountains Insurance Group's specialty — prior year decreased by 179.3% year-over-year, from $8.58M to -$6.8M.
What is the long-term trend for White Mountains Insurance Group's specialty — prior year?
Over 4 years (2021 to 2025), White Mountains Insurance Group's specialty — prior year has grown at a 69.4% compound annual growth rate (CAGR), from $3.3M to -$27.2M.
What does specialty — prior year mean?
This metric represents the net favorable or unfavorable development of loss reserves established in prior reporting periods for the Specialty insurance segment. It reflects the accuracy of initial actuarial estimates and the impact of subsequent claims experience on the company's historical underwriting results.

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