White Mountains Insurance Group, Ltd. logo

White Mountains Insurance Group, Ltd.

WTM

NYSEFinancial ServicesInsurance - Diversified

Latest quote

$2,109

−$6.75 · -0.32%

Aug 21, 3:55 PM ET

WTM company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

89

Deep Value

Momentum

58

Neutral

Sentiment

72

Bullish

Risk resilience

81

Low Risk

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Company profile

Company website

White Mountains Insurance Group, Ltd. provides insurance services in the United States, the United Kingdom, Bermuda, and internationally. It operates through Ark/WM Outrigger, HG Global, Kudu, Distinguished, and Other Operations segments. The company offers property insurance and reinsurance; specialty insurance and reinsurance consisting of aviation, contingency, cyber, fine art and specie, mortgage, nuclear, political and credit, space, surety, and terrorism and political violence; marine and energy insurance and reinsurance; casualty insurance and reinsurance, such as medical malpractice, and professional and general liability; and accident and health insurance and reinsurance, which includes personal accident, sickness, disability, travel, short-term life, and medical products through brokers, managing general agents (MGA), and reinsurance intermediaries. It also provides municipal bond guarantee reinsurance, which focuses on single risk limits for small-to-medium sized, and public investment grade municipal bonds that are issued to finance public purpose projects, including schools, utilities, and transportation facilities. In addition, the company offers capital solutions for boutique asset and wealth managers for generational ownership transfers, management buyouts, acquisition and growth finance, and legacy partner liquidity; strategic advice; investment management; and specialty electrical contracting services. Further, it operates as a full-service MGA and program administrator for specialty property and casualty insurance for the real estate and hospitality end markets, and start-up programs; and an MGA for leisure travel and global expatriate medical insurance in Israel, the European Union, and Australia. The company was formerly known as Fund American Enterprises Holdings, Inc. and changed its name to White Mountains Insurance Group, Ltd. in 1999. White Mountains Insurance Group, Ltd. was incorporated in 1980 and is headquartered in Hamilton, Bermuda.

Industry
Insurance - Diversified
Sector
Financial Services
Headquarters
BM
CEO
Liam Caffrey
Listed since
Oct 23, 1985
Employees
1,648

Market position

Volume
24.96K
1.23× average
Average volume
20.27K
Average daily volume
Market cap
5.23B USD
Beta
0.3
Market reference 1

Financials

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends80%34%-11%-56%Gross margin, FY2021: 5.39%Gross margin, FY2022: 32.03%Gross margin, FY2023: 53.07%Gross margin, FY2024: 45.58%Gross margin, FY2025: 53.72%Operating margin, FY2021: -44.53%Operating margin, FY2022: -12.90%Operating margin, FY2023: 26.09%Operating margin, FY2024: 13.45%Operating margin, FY2025: 49.08%Net margin, FY2021: -44.82%Net margin, FY2022: 68.47%Net margin, FY2023: 23.50%Net margin, FY2024: 9.79%Net margin, FY2025: 40.87%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 5.39%. Gross margin FY2022 32.03%. Gross margin FY2023 53.07%. Gross margin FY2024 45.58%. Gross margin FY2025 53.72%. Operating margin FY2021 -44.53%. Operating margin FY2022 -12.90%. Operating margin FY2023 26.09%. Operating margin FY2024 13.45%. Operating margin FY2025 49.08%. Net margin FY2021 -44.82%. Net margin FY2022 68.47%. Net margin FY2023 23.50%. Net margin FY2024 9.79%. Net margin FY2025 40.87%.

Income trends

Revenue

2.71B USD+14.99%

Operating income

1.33B USD+319.55%

Net income

1.11B USD+380.21%
Income trends across reported periods3.01B USD1.81B USD619.41M USD−573.67M USDRevenue, FY2021: 614.4M USDRevenue, FY2022: 1.16B USDRevenue, FY2023: 2.17B USDRevenue, FY2024: 2.35B USDRevenue, FY2025: 2.71B USDOperating income, FY2021: −273.6M USDOperating income, FY2022: −149.4M USDOperating income, FY2023: 565.4M USDOperating income, FY2024: 316.7M USDOperating income, FY2025: 1.33B USDNet income, FY2021: −275.4M USDNet income, FY2022: 792.8M USDNet income, FY2023: 509.2M USDNet income, FY2024: 230.4M USDNet income, FY2025: 1.11B USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 614.4M USD. Revenue FY2022 1.16B USD. Revenue FY2023 2.17B USD. Revenue FY2024 2.35B USD. Revenue FY2025 2.71B USD. Operating income FY2021 −273.6M USD. Operating income FY2022 −149.4M USD. Operating income FY2023 565.4M USD. Operating income FY2024 316.7M USD. Operating income FY2025 1.33B USD. Net income FY2021 −275.4M USD. Net income FY2022 792.8M USD. Net income FY2023 509.2M USD. Net income FY2024 230.4M USD. Net income FY2025 1.11B USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue2.71B USD2.35B USD2.17B USD1.16B USD614.4M USD
Cost of goods sold1.25B USD1.28B USD1.02B USD787M USD581.3M USD
Gross profit1.45B USD1.07B USD1.15B USD370.9M USD33.1M USD
Selling, general, and administrative700.2M USD490.1M USD432.6M USD364.1M USD291.6M USD
Operating expenses125.7M USD756.3M USD584.4M USD520.3M USD306.7M USD
Interest income22.5M USD15.8M USD
Interest expense58.8M USD60.8M USD62.7M USD40.3M USD20.5M USD
Depreciation and amortization2.6M USD−6.4M USD−17.8M USD4.3M USD21.6M USD
Operating income1.33B USD316.7M USD565.4M USD−149.4M USD−273.6M USD
Net income1.11B USD230.4M USD509.2M USD792.8M USD−275.4M USD

Company facts updated Aug 24, 2026.

Earnings

Latest fiscal-year EPS
430.14
FY2025 · +379.05% year over year
Latest fiscal-year revenue
2.71B USD
FY2025 · +14.99% year over year

Annual EPS trend

Reported history and fiscal-year consensus

ReportedConsensus forecast
Annual EPS trend482.1274.2666.42-141.42FY21FY22FY23FY24FY25

Annual revenue trend

Reported history and fiscal-year consensus

ReportedConsensus forecast
Annual revenue trend2.92B2.08B1.24B405.11MFY21FY22FY23FY24FY25

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