White Mountains Insurance Group Files 8-K

TL;DR

WM Insurance filed an 8-K on Feb 7, 2025, with financial updates. Check it out.

AI Summary

White Mountains Insurance Group, Ltd. filed an 8-K on February 7, 2025, reporting on its financial condition and results of operations. The filing includes financial statements and exhibits related to the company's performance. The company is incorporated in Bermuda and its principal executive offices are located in Hanover, New Hampshire.

Why It Matters

This 8-K filing provides an update on White Mountains Insurance Group's financial performance and condition, which is crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — This filing is a routine 8-K reporting financial information and does not indicate any unusual or significant risks.

Key Players & Entities

• WHITE MOUNTAINS INSURANCE GROUP, LTD. (company) — Registrant
• February 7, 2025 (date) — Date of Report
• Bermuda (jurisdiction) — State or other jurisdiction of incorporation or organization
• 23 South Main Street, Suite 3B, Hanover, New Hampshire 03755 (address) — Address of principal executive offices

FAQ

Key Financial Figures

• $1.00 — ch registered Common Shares, par value $1.00 per share WTM New York Stock Exchange
• $91 million — n 8% discount rate, was estimated to be $91 million and $93 million less than the nominal G
• $93 million — te, was estimated to be $91 million and $93 million less than the nominal GAAP carrying val
• $211 m — net of deferred acquisition costs, was $211 million, $204 million, $195 million and $
• $204 m — ed acquisition costs, was $211 million, $204 million, $195 million and $187 million as
• $195 million — costs, was $211 million, $204 million, $195 million and $187 million as of December 31, 202
• $187 million — million, $204 million, $195 million and $187 million as of December 31, 2024, September 30,

Filing Documents

• wtm-20250207.htm (8-K) — 58KB
• wtmq42024earningsrelease.htm (EX-99.1) — 987KB
• image1a.jpg (GRAPHIC) — 64KB
• 0000776867-25-000002.txt ( ) — 1313KB
• wtm-20250207.xsd (EX-101.SCH) — 2KB
• wtm-20250207_lab.xml (EX-101.LAB) — 21KB
• wtm-20250207_pre.xml (EX-101.PRE) — 12KB
• wtm-20250207_htm.xml (XML) — 3KB

02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION. On February 7, 2025, White Mountains Insurance Group, Ltd. issued a press release announcing its results for the three months and year ended December 31, 2024. The press release furnished herewith is attached as Exhibit 99.1 to this Form 8-K. Certain information included in the press release constitutes non-GAAP financial measures (as defined in Regulation G of the Securities and Exchange Commission). Specifically, there are 12 non-GAAP financial measures: (i) adjusted book value per share, (ii) Kudu's EBITDA, (iii) Kudu's adjusted EBITDA, (iv) Kudu's annualized adjusted EBITDA, (v) Kudu's annualized revenue, (vi) Kudu's cash revenue yield, (vii) Bamboo's MGA pre-tax income (loss), (viii) Bamboo's MGA net income (loss), (ix) Bamboo's MGA EBITDA, (x) Bamboo's MGA adjusted EBITDA, (xi) total consolidated portfolio return excluding MediaAlpha and (xii) total equity portfolio return excluding MediaAlpha. These non-GAAP financial measures have been reconciled from their most comparable GAAP financial measures. Adjusted book value per share is a non-GAAP financial measure which is derived by adjusting (i) the GAAP book value per share numerator and (ii) the common shares outstanding denominator, as described below. The GAAP book value per share numerator is adjusted (i) for periods prior to July 1, 2024, to include a discount for the time value of money arising from the modeled timing of cash payments of principal and interest on the BAM surplus notes and (ii) for all periods, to add back the unearned premium reserve, net of deferred acquisition costs, at HG Global. Under GAAP, for periods prior to July 1, 2024, the BAM surplus notes, including accrued interest receivable, were classified as intercompany notes carried at nominal value with no consideration for time value of money and eliminated in consolidation. Based on a debt service model that forecasts operating results for BAM through maturity of the BAM s

01. FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits 99.1 Press Release of White Mountains Insurance Group, Ltd. dated February 7 , 202 5 , f urnished herewith.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. WHITE MOUNTAINS INSURANCE GROUP, LTD. February 7, 2025 By: /s/ MICHAELA J. HILDRETH Michaela J. Hildreth Managing Director and Chief Accounting Officer 4

View Full Filing

View this 8-K filing on SEC EDGAR