White Mountains Insurance Reports Mixed 2024 Results

White Mountains Insurance ( (WTM) ) has released its Q4 earnings. Here is a breakdown of the information White Mountains Insurance presented to its investors.

White Mountains Insurance Group, Ltd. is a Bermuda-based financial services holding company primarily engaged in the insurance and reinsurance sectors, with a unique focus on managing diverse investment portfolios and offering financial guarantee products.

The company recently released its fourth quarter earnings for 2024, reporting a decrease of 3% in both book value per share and adjusted book value per share over the quarter. However, for the full year, these values increased by 6% and 8%, respectively. The company faced challenges from mark-to-market declines in its investment portfolio, particularly with MediaAlpha.

Key financial highlights include Ark’s impressive performance with a combined ratio of 77% and a 14% increase in gross written premiums. HG Global also showed growth in gross written premiums driven by strong primary market volume. Kudu achieved a significant milestone with its portfolio value exceeding $1 billion despite a challenging quarter. Meanwhile, MediaAlpha’s share price drop resulted in a substantial mark-to-market loss for White Mountains. Bamboo showed robust growth with managed premiums more than doubling year-over-year.

Looking ahead, White Mountains remains committed to leveraging its undeployed capital of approximately $700 million for strategic growth opportunities. The company aims to navigate through market challenges while capitalizing on profitable growth avenues in 2025.