White Mountains Insurance Group Q2 2025 Revenue Reaches $689.2 Million, Comprehensive Income at $124 Million

White Mountains Insurance Group Ltd reported Q2 2025 revenue of $689.2 million and comprehensive income of $124 million, a 3% increase in book value per share to $1,804. The company's operating segments, including Ark, HG Global, and Bamboo, achieved strong financial performance, with Ark reporting a combined ratio of 84% and gross written premiums of $815 million, up 17% year-over-year.

White Mountains Insurance Group Ltd (NYSE: WTM) reported its second quarter (Q2) 2025 financial results, with a significant increase in book value per share (BVPS) and strong performance across its operating segments. The company's Q2 2025 revenue reached $689.2 million, and comprehensive income was $124 million, a 3% increase in BVPS to $1,804 [1].

The company's CEO, Manning Rountree, highlighted the sound results at operating companies and good investment returns. Ark, one of the key segments, reported a combined ratio of 84%, gross written premiums of $815 million, up 17% year-over-year, and net earned premiums of $364 million. Ark's combined ratio included five points of net favorable prior year development, driven by the property, marine & energy, and specialty lines of business [1].

HG Global, another operating segment, reported a record second quarter with gross written premiums of $19 million, a 66% increase year-over-year. The segment's total par value of policies assumed increased to $931 million, reflecting higher issuance of municipal bonds. Kevin Pearson, President of HG Global, noted the strong second quarter performance, driven by higher primary market pricing [1].

Bamboo, a third segment, also achieved significant growth in managed premiums and adjusted EBITDA. MediaAlpha's share price increased by 19%, producing a $31 million mark-to-market gain. The company's investment portfolio, excluding MediaAlpha, was up 2.3% [1].

White Mountains Insurance Group Ltd also announced the acquisition of Distinguished Programs and closed its transaction with BroadStreet Partners. This move resulted in an increase in undeployed capital to approximately $300 million [1].

The company's pre-tax income and adjusted EBITDA were positive, with Kudu, another operating segment, reporting a pre-tax income of $11 million in the second quarter of 2025. The company's return on equity (ROE) was 8% on a trailing 12 months basis as of June 30, 2025 [1].

Overall, White Mountains Insurance Group Ltd demonstrated robust financial performance in Q2 2025, with strong revenue growth and improved profitability across its operating segments.

References:
[1] White Mountains Insurance Group Ltd. (2025). White Mountains Reports Second Quarter Results. Retrieved from https://www.marketscreener.com/news/white-mountains-insurance-2025-q2-financial-results-ce7c5edfdc8ff321