White Mountains Insurance Group, Ltd. filed its Form 10-Q for the quarterly period ended June 30, 2026, with the Securities and Exchange Commission, reporting consolidated financial results across its P&C insurance, asset management, financial guarantee, specialty insurance distribution, and services segments.

Key Highlights

  • Total assets: White Mountains reported total consolidated assets of $13,766.7 million as of June 30, 2026, up from $12,306.5 million at December 31, 2025, according to the filing.
  • Shareholders' equity: White Mountains's common shareholders' equity stood at $5,388.3 million as of June 30, 2026, compared with $5,425.4 million at December 31, 2025.
  • Shares outstanding: As of August 3, 2026, 2,386,721 common shares were outstanding, including 31,665 restricted common shares that were not vested at that date.
  • P&C Insurance and Reinsurance earned premiums: The Ark/WM Outrigger segment reported earned insurance premiums of $750.0 million for the six months ended June 30, 2026, compared with $722.2 million for the same period in 2025.
  • Asset Management revenues: The Kudu segment reported total revenues of $131.9 million for the six months ended June 30, 2026, up from $84.2 million in the comparable 2025 period, driven in part by net realized and unrealized investment gains of $91.7 million.
  • P&C loss reserves: Loss and loss adjustment expense reserves in the P&C Insurance and Reinsurance segment increased to $2,623.8 million at June 30, 2026, from $2,481.0 million at December 31, 2025.

White Mountains Reports Balance Sheet Growth and Segment Results for First Half of 2026

White Mountains Insurance Group, Ltd. (New York Stock Exchange: WTM; Bermuda Stock Exchange: WTM.BH), a Bermuda-incorporated holding company headquartered in Hanover, New Hampshire, filed its quarterly report covering the period ended June 30, 2026. The consolidated balance sheet showed total assets of $13,766.7 million, an increase of approximately $1,460.2 million from the $12,306.5 million reported at December 31, 2025. Total liabilities rose to $7,514.7 million from $6,051.4 million over the same period, the filing disclosed.

The P&C Insurance and Reinsurance segment, operated through Ark/WM Outrigger, was the largest contributor to total assets at $7,570.2 million as of June 30, 2026. The segment reported earned insurance premiums of $376.2 million for the three months ended June 30, 2026, versus $364.2 million in the prior-year quarter. Reinsurance recoverables increased to $1,394.0 million from $836.1 million at year-end 2025, and unearned insurance premiums rose sharply to $1,860.4 million from $1,026.1 million, according to the filing. The segment also carried contingent consideration of $370.0 million at quarter-end, up from $328.3 million at December 31, 2025.

The Asset Management segment (Kudu) reported total revenues of $68.9 million for Q2 2026, compared with $20.4 million for Q2 2025, with net realized and unrealized investment gains of $49.7 million in the quarter. The Financial Guarantee segment (HG Global) reported total revenues of $20.4 million for Q2 2026, down from $24.2 million in Q2 2025, reflecting net realized and unrealized investment losses of $2.0 million in the current quarter versus gains of $3.1 million in the year-ago period. The Specialty Insurance Distribution segment (Distinguished) recorded commission and fee revenues of $56.6 million for Q2 2026, a line that showed no comparable figure for Q2 2025, as reported in the filing.

What Was Disclosed

White Mountains disclosed its unaudited consolidated balance sheets, statements of operations, and related financial data for the period ended June 30, 2026, covering six operating segments and reporting 2,386,721 common shares outstanding as of August 3, 2026.