White Mountains to Acquire Majority Stake in Distinguished Programs, Maintaining Leadership

White Mountains Insurance Group has acquired a majority stake in Distinguished Programs, a national specialty insurance MGA and program manager, to support its strategic growth. Distinguished will maintain its current leadership and Aquiline Capital remains a significant minority shareholder. The acquisition aims to expand Distinguished's reach organically and through acquisitions, solidifying its position in the dynamic insurance market.

White Mountains Insurance Group, Ltd. (NYSE: WTM) has entered into a definitive agreement to acquire a majority stake in Distinguished Programs, a national specialty insurance MGA (Managing General Agent) and program manager. The acquisition, announced on July 7, 2025, is part of White Mountains' strategic growth plan to expand its reach in the dynamic insurance market.

Distinguished Programs, led by industry veterans Bill Malloy (CEO), Jason Rotman (President), and Steve Sitterly (COO), will continue to operate under its current management team. Aquiline Capital Partners, the current controlling equity holder, will remain a significant minority shareholder post-acquisition. The deal is expected to close in the third quarter of 2025.

The acquisition involves White Mountains purchasing approximately 50% of Distinguished's outstanding equity interests for $230 million. White Mountains currently owns about 1% equity stake in Distinguished. The deal is expected to enhance Distinguished's organic and inorganic growth opportunities, solidifying its position in the specialty property and casualty insurance market.

Distinguished Programs places more than $550 million in premiums annually across a portfolio of 12 specialty property and casualty programs, including commercial real estate, hotels and restaurants, community associations, and environmental and construction professionals.

White Mountains Insurance Group, Ltd. (NYSE: WTM) has been keen observers of Distinguished's recent progress and is pleased to make this acquisition alongside fellow shareholders and a seasoned management team. The acquisition aligns with White Mountains' strategy to capitalize on growth opportunities in the insurance sector.

References:
[1] https://www.marketscreener.com/quote/stock/WHITE-MOUNTAINS-INSURANCE-14920/news/White-Mountains-Insurance-Group-Ltd-entered-into-a-definitive-agreement-to-acquire-an-unknown-majo-50449910/
[2] https://seekingalpha.com/news/4465585-white-mountains-insurance-to-buy-majority-stake-in-distinguished-programs