White Mountains Reports Third Quarter Results

November 6, 2018 | 0 Comments

White Mountains Insurance Group, Ltd. [WTM] reported book value per share of $938 and adjusted book value per share of $926 as of September 30, 2018. Book value per share and adjusted book value per share both increased 2% in the third quarter of 2018 and 1% in the first nine months of 2018, including dividends.

Comprehensive income [loss] attributable to common shareholders was $40 millionand $[5] million in the third quarter and first nine months of 2018, compared to comprehensive income attributable to common shareholders of $565 million and $608 million in the third quarter and first nine months of 2017, which included the gain from the sale of OneBeacon.

Manning Rountree, CEO, commented, “Overall results in the quarter were solid, with ABVPS up 2%. The components were mixed. Our investment portfolio was up 3.1%, a strong result driven by equities. BAM had a slow quarter, with premiums and MSC from new business dipping to $16 million, reflecting lower pricing levels. NSM had solid results, with modest growth in premiums.

“MediaAlpha posted record results, yet again. Kudu announced their first transaction in the quarter and two more in October, deploying $63 million of capital in total. More broadly, we continue to pursue capital deployment opportunities with energy, rigor and discipline.”

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