White Mountains Insurance ( (WTM) ) has released its Q3 earnings. Here is a breakdown of the information White Mountains Insurance presented to its investors.
White Mountains Insurance Group, Ltd., a Bermuda-domiciled financial services holding company, operates primarily in the insurance and financial services sectors, trading on the New York Stock Exchange and the Bermuda Stock Exchange.
In the third quarter of 2024, White Mountains reported an increase in both book value per share and adjusted book value per share by 4% and 6% respectively, mainly driven by solid performance across its operating companies and favorable investment returns. The company’s comprehensive income attributable to common shareholders rose significantly to $180 million from the previous year’s $23 million for the same period.
Ark reported a notable improvement with a 79% combined ratio and a substantial growth in gross written premiums by 49% year-over-year. The company’s investment in MediaAlpha yielded an $88 million unrealized gain as its share price surged by 38%. HG Global and Bamboo also reported strong performances with increased premiums and adjusted EBITDA. However, HG Global faced a significant unrealized loss due to the deconsolidation of BAM.
Looking ahead, White Mountains is poised to continue leveraging its undeployed capital of approximately $650 million to capitalize on emerging market opportunities. The company’s strategic focus on growth and investment returns suggests a positive outlook as it seeks to enhance shareholder value.
