Business
WHITE MOUNTAINS REPORTS THIRD QUARTER RESULTS
White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,851 as of September 30, 2025, an increase of 3% for the third quarter of 2025 and 6% for the first nine months of 2025, including dividends.
About this update from White Mountains Insurance Group, Ltd.
[{"type":"text","content":"HAMILTON, Bermuda, Nov. 6, 2025 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,851 as of September 30, 2025, an increase of 3% for the third quarter of 2025 and 6% for the first nine months of 2025, including dividends.","length":274,"tagName":"p"},{"type":"text","content":"On October 2, 2025, White Mountains entered into an agreement to sell approximately 77% of its equity interest in Bamboo for cash to CVC Capital Partners and will retain the remainder. Including the expected fourth quarter impact from the closing of the transaction of approximately $325 per share, White Mountains's book value per share would be $2,176 as of September 30, 2025. Bamboo's assets and liabilities have been presented as held for sale in White Mountains's consolidated balance sheets as of September 30, 2025 and December 31, 2024.","length":557,"tagName":"p"},{"type":"text","content":"Manning Rountree, CEO, commented, "BVPS was up 3% in the quarter. We had good operating results and investment returns. Ark produced a 76% combined ratio and $366 million of gross written premiums in the quarter. HG Global generated $16 million of gross written premiums in the quarter and grew book value by 3%. Kudu produced a 9% return on equity on a trailing 12 months basis, growing both the fair value of its portfolio of participation contracts and EBITDA. Bamboo had another record quarter with continued strong growth in managed premiums and adjusted EBITDA. Our consolidated investment portfolio, excluding MediaAlpha, was up 2.0% with gains in both fixed income and equities. During the quarter, we closed our previously announced deployments at BroadStreet Partners and Distinguished Programs."","length":816,"tagName":"p"},{"type":"text","content":"Rountree continued, "In early October, we announced the sale of a control stake in Bamboo. Upon closing, the transaction will increase our book value per share by $325 and our undeployed capital position from roughly $0.3 billion to $1.1 billion."","length":257,"tagName":"p"},{"type":"text","content":"Comprehensive income (loss) attributable to common shareholders was $114 million and $272 million in the third quarter and first nine months of 2025 compared to $180 million and $361 million in the third quarter and first nine months of 2024....