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CONSOLIDATED BALANCE SHEETS (USD $)
In Millions, unless otherwise specified
Dec. 31, 2012
Dec. 31, 2011
Assets    
Fixed maturity investments, at fair value $ 5,196.2 $ 6,221.9
Short-term investments, at amortized cost (which approximates fair value) 630.6 846.0
Common equity securities, at fair value 1,029.7 755.0
Convertible fixed maturity investments, at fair value 127.4 143.8
Other long-term investments 294.2 301.3
Total investments 7,278.1 8,268.0
Cash (restricted $249.8 and $453.5) 462.4 705.4
Reinsurance recoverable on unpaid losses 429.1 2,507.3
Reinsurance recoverable on paid losses 17.9 30.5
Insurance and reinsurance premiums receivable 556.3 489.2
Funds held by ceding companies 127.4 106.5
Investments in unconsolidated affiliates 387.9 275.3
Deferred acquisition costs 195.3 187.0
Deferred tax asset 569.6 536.9
Ceded unearned insurance and reinsurance premiums 91.8 87.3
Accrued investment income 45.9 51.4
Accounts receivable on unsettled investment sales 3.9 4.7
Other assets 503.0 681.9
Assets held for sale 2,226.8 132.6
Total assets 12,895.4 14,064.0
Liabilities    
Loss and loss adjustment expense reserves 3,168.9 5,702.3
Unearned insurance and reinsurance premiums 924.1 846.9
Variable annuity benefit guarantee 441.5 768.5
Debt 751.2 677.5
Deferred tax liability 341.3 365.5
Accrued incentive compensation 159.0 187.9
Funds held under reinsurance treaties 43.7 42.9
Ceded reinsurance payable 116.5 134.6
Accounts payable on unsettled investment purchases 11.4 34.6
Other liabilities 452.8 527.8
Liabilities held for sale 2,226.8 107.6
Total liabilities 8,637.2 9,396.1
White Mountains’ common shareholders’ equity    
White Mountains’ common shares at $1 par value per share—authorized 50,000,000 shares; issued and outstanding 6,290,964 and 7,577,855 shares 6.3 7.6
Paid-in surplus 1,050.9 1,253.7
Retained earnings 2,542.7 2,789.7
Accumulated other comprehensive income (loss), after-tax:    
Equity in unrealized gains from investments in Symetra common shares 57.7 0
Net unrealized foreign currency translation gains 85.7 46.1
Pension liability and other (11.5) (9.4)
Total White Mountains’ common shareholders’ equity 3,731.8 4,087.7
Non-controlling interests    
Non-controlling interest — OneBeacon, Ltd. 251.4 273.1
Non-controlling interest — SIG Preference Shares 250.0 250.0
Non-controlling interest — HG Global 16.6 0
Non-controlling interest — BAM (36.0) 0
Non-controlling interest — consolidated limited partnerships and A.W.G. Dewar 44.4 57.1
Total Non-controlling interests 526.4 580.2
Total equity 4,258.2 4,667.9
Total liabilities and equity $ 12,895.4 $ 14,064.0