XML 13 R2.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2021
Dec. 31, 2020
Investments    
Other long-term investments $ 1,032.2 $ 786.8
Goodwill and other intangible assets 1,037.0 782.4
Total assets 6,900.7 4,831.4
Liabilities    
Loss and loss adjustment expense reserves 447.5 433.4
Debt 429.7 376.4
Total liabilities 2,964.8 1,013.5
White Mountains’s common shareholders’ equity    
White Mountains’s common shares at $1 par value per share—authorized 50,000,000 shares; issued and outstanding 3,107,267 and 3,102,011 shares and paid-in surplus 3.1 3.1
Paid-in surplus 594.8 592.1
Retained earnings 3,226.7 3,311.2
Accumulated other comprehensive gain (loss), after-tax:    
Net unrealized foreign currency translation and interest rate swap gains (losses) 1.3 (0.4)
Total White Mountains’s common shareholders’ equity 3,825.9 3,906.0
Non-controlling interests 110.0 (88.1)
Total equity 3,935.9 3,817.9
Total liabilities and equity 6,900.7 4,831.4
Financial Guarantee (HG Global/BAM)    
Investments    
Fixed maturity investments, at fair value 857.0 859.5
Short-term investments, at fair value 45.3 60.4
Total investments 902.3 919.9
Cash 18.9 42.8
Insurance premiums receivable 6.9 6.9
Deferred acquisition costs 28.7 27.8
Accrued investment income 5.2 5.0
Other assets 14.8 15.4
Total assets 976.8 1,017.8
Liabilities    
Unearned insurance premiums 243.7 237.5
Accrued incentive compensation 11.0 25.7
Other liabilities 28.6 28.3
Total liabilities 283.3 291.5
P&C Insurance and Reinsurance (Ark)    
Investments    
Fixed maturity investments, at fair value 305.8 0.0
Common equity securities, at fair value 118.6 0.0
Short-term investments, at fair value 328.6 0.0
Other long-term investments 234.7 0.0
Total investments 987.7 0.0
Cash 308.8 0.0
Reinsurance recoverables 449.0 0.0
Insurance premiums receivable 435.4 0.0
Ceded unearned premiums 145.5 0.0
Deferred acquisition costs 79.2 0.0
Value of in-force business acquired 42.9 0.0
Goodwill and other intangible assets 292.5 0.0
Other assets 99.2 0.0
Total assets 2,840.2 0.0
Liabilities    
Loss and loss adjustment expense reserves 751.9 0.0
Unearned insurance premiums 565.4 0.0
Debt 44.1 0.0
Premiums payable 487.5 0.0
Contingent consideration related to the Ark Transaction 22.5 0.0
Accounts payable on unsettled investment purchases 61.6 0.0
Other liabilities 73.8 0.0
Total liabilities 2,006.8 0.0
Specialty Insurance Distribution (NSM)    
Investments    
Cash 121.0 126.5
Premiums and commissions receivable 77.0 76.7
Goodwill and other intangible assets 699.7 736.8
Other assets 65.0 59.6
Total assets 962.7 999.6
Liabilities    
Debt 272.7 272.6
Premiums payable 116.0 113.4
Contingent consideration earnout liabilities 7.9 14.6
Other liabilities 83.5 91.2
Total liabilities 480.1 491.8
Asset Management (Kudu)    
Investments    
Short-term investments, at fair value 0.1 0.1
Other long-term investments 427.4 400.6
Total investments 427.5 400.7
Cash 10.9 7.8
Accrued investment income 7.5 9.8
Goodwill and other intangible assets 9.1 9.2
Other assets 2.7 2.7
Total assets 457.7 430.2
Liabilities    
Debt 95.9 86.3
Other liabilities 15.4 10.0
Total liabilities 111.3 96.3
Other Operations    
Investments    
Fixed maturity investments, at fair value 318.8 347.7
Short-term investments, at fair value 251.8 82.4
Investment in MediaAlpha, at fair value 600.2 802.2
Other long-term investments 370.1 386.2
Total investments 1,540.9 1,618.5
Cash 28.9 34.1
Cash pre-funded/placed in escrow for Ark Transaction 0.0 646.3
Accrued investment income 3.9 2.4
Accounts receivable on unsettled investment sales 3.5 3.4
Goodwill and other intangible assets 35.7 36.4
Other assets 49.7 40.4
Assets held for sale 0.7 2.3
Total assets 1,663.3 2,383.8
Liabilities    
Debt 17.0 17.5
Accrued incentive compensation 40.4 70.1
Other liabilities 25.9 46.3
Total liabilities $ 83.3 $ 133.9