Investments in Unconsolidated Entities

6 Months Ended

Jun. 30, 2018

Equity Method Investments and Joint Ventures [Abstract]

White Mountains’s investments in unconsolidated entities are included within other long-term investments and consist of investments in common equity securities or similar instruments, which give White Mountains the ability to exert significant influence over the investee’s operating and financial policies (“equity method eligible unconsolidated entities”). Such investments may be accounted for under either the equity method or, alternatively, White Mountains may elect to account for them under the fair value option.

The following table presents the carrying values of investments in equity method eligible unconsolidated entities recorded within other long-term investments:



Millions	June 30, 2018		December31, 2017
Equity method eligible private equity securities, at fair value	$	82.7	$	58.0
Investments, accounted for under the equity method	7.7		4.6
Total investments in equity method eligible unconsolidated entities	90.4		62.6
Other unconsolidated investments ⁽¹⁾	165.1		146.2
Total other long-term investments	$	255.5	$	208.8

⁽¹⁾Consists of other long-term investments that are not equity method eligible.

The following table presents White Mountains’s investments in equity method eligible unconsolidated entities as of June 30, 2018 and December 31, 2017:



Investee	Ownership Interest		Instrument Held
	June 30, 2018	December 31, 2017
PassportCard ⁽¹⁾	50.0%	50.0%	Common shares
DavidShield ⁽¹⁾	50.0%	—	Common shares
Kudu	49.5%	—	Units
durchblicker	45.0%	45.0%	Common shares
Compare.com	22.1%	22.1%	Common shares
OneTitle	20.0%	20.0%	Common shares
Tuckerman Capital Fund III	20.0%	21.3%	Units

⁽¹⁾ At June 30, 2018, White Mountains's ownership interest in PassportCard comprised a 25% direct ownership interest and a 25% indirect interest through DavidShield. At December 31, 2017, White Mountains's ownership interest was a 50% direct ownership interest. See Note 2 — “Significant Transactions”.