What does WTM partners — insurance acquisition expenses mean?

This metric tracks the costs directly associated with acquiring new insurance policies, such as marketing, underwriting, and policy issuance expenses. It is a key measure of the efficiency of the segment's distribution and sales strategy. Monitoring this helps assess the cost-to-acquire relative to the long-term value of the business written.

White Mountains Insurance Group (WTM) WTM Partners — Insurance acquisition expenses

Screener

Other segment segments

Asset Management (Kudu)

$0—

P&C Insurance Distribution (Bamboo)

$0+100%

Specialty Insurance Distribution (Distinguished)

$0—

Similar metrics at other companies

ACGLInsurance — Acquisition expenses

$375M+9.3%

ACGLReinsurance — Acquisition expenses

$347M-16.8%

AXSInsurance — Acquisition costs

$238.82M+22.5%

RGAInsurance, Other — Policy acquisition costs and other insurance expenses

$35M+52.2%

KGLegacy Reinsurance — Commission and other acquisition expenses

$983K+149%

AXSReinsurance — Acquisition costs

$77.45M-4.4%

Other financials

Income statement

See full

Revenue$844.6M+22.5%

Gross profit$764.5M+18.2%

Net income$199.5M+62.3%

Balance sheet

See full

Total debt$932.5M+34.2%

Total equity$5.4B+16.0%

Total assets$13.8B+16.4%

Cash flow

See full

Operating cash flow-$55.5M-131%

Valuation

See full

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

See full

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:DeferredPolicyAcquisitionCostAmortizationExpense.

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

Millions / Three Months Ended June 30, 2026	Ark/WM Outrigger / Ark	Ark/WM Outrigger / WM Outrigger Re	Kudu	HG Global	Distinguished	WTM Partners	Other Operations	Total
Other revenues (1) (2)	4.9	—	.2	—	.2	—	—	5.3
Total revenues	437.7	1.9	68.9	20.4	57.4	92.8	165.5	844.6
Loss and LAE (3)	175.7	(.1)	—	—	—	—	.1	175.7
Insurance acquisition expenses (3)	103.4	.3	—	2.1	—	—	.3	106.1
Cost of sales	—	—	—	—	—	72.6	7.5	80.1
Broker commission expenses	—	—	—	—	23.3	—	—	23.3
Amortization of other intangible assets (4)	—	—	—	—	6.4	1.3	.9	8.6
General and administrative expenses (3) (4) (5)	44.4	—	4.7	4.2	34.6	14.2	41.2	143.3

Item 1. Financial Statements (Unaudited)

FAQ

What is White Mountains Insurance Group's WTM partners — insurance acquisition expenses?: White Mountains Insurance Group (WTM) reported WTM partners — insurance acquisition expenses of $0 in Q2 2026.
What does WTM partners — insurance acquisition expenses mean?: This metric tracks the costs directly associated with acquiring new insurance policies, such as marketing, underwriting, and policy issuance expenses. It is a key measure of the efficiency of the segment's distribution and sales strategy. Monitoring this helps assess the cost-to-acquire relative to the long-term value of the business written.