XML 134 R117.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Information - Financial Information for White Mountain's Segments (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment reporting information      
Earned insurance premiums $ 1,691.6 $ 1,440.9 $ 1,076.7
Net investment income 227.4 194.2 124.4
Net realized and unrealized investment gains (losses) 184.9 434.2 (191.5)
Interest income (expense) from BAM Surplus Notes 15.8 0.0 0.0
Change in fair value of BAM Surplus Notes 0.5 0.0 0.0
Unrealized loss on deconsolidation of BAM (114.5) 0.0 0.0
Commission and fees revenues 149.4 13.2 11.5
Other revenues 84.7 84.2 136.8
Total revenues 2,239.8 2,166.7 1,157.9
Loss and loss adjustment expenses 888.5 726.8 536.4
Acquisition expenses 341.5 290.1 250.6
Cost of sales 29.6 40.4 98.6
Broker commission expense 51.3    
General and administrative expenses 490.1 432.6 364.1
Change in fair value of contingent consideration 61.3 48.7 17.3
Interest expense 60.8 62.7 40.3
Total expenses 1,923.1 1,601.3 1,307.3
Pre-tax income (loss) from continuing operations 316.7 565.4 (149.4)
Other Operations      
Segment reporting information      
Earned insurance premiums 32.7 0.0 0.0
Net investment income 35.6 30.1 32.2
Interest income (expense) from BAM Surplus Notes 0.0 0.0 0.0
Change in fair value of BAM Surplus Notes 0.0    
Unrealized loss on deconsolidation of BAM 0.0    
Commission and fees revenues 14.8 13.2 11.5
Other revenues 56.8 80.5 127.2
Total revenues 234.9 339.4 76.3
Loss and loss adjustment expenses 12.1 0.0 0.0
Acquisition expenses 12.1 0.0 0.0
Cost of sales 29.6 40.4 98.6
Broker commission expense 0.0    
General and administrative expenses 169.5 182.3 174.1
Change in fair value of contingent consideration 0.0 0.0 0.0
Interest expense 2.5 3.7 1.9
Total expenses 225.8 226.4 274.6
Pre-tax income (loss) from continuing operations 9.1 113.0 (198.3)
Investments, Excluding MediaAlpha      
Segment reporting information      
Net realized and unrealized investment gains (losses) 146.9 407.1 (98.5)
Investments, Excluding MediaAlpha | Other Operations      
Segment reporting information      
Net realized and unrealized investment gains (losses) 57.0 188.5 (1.6)
MediaAlpha      
Segment reporting information      
Net realized and unrealized investment gains (losses) 38.0 27.1 (93.0)
MediaAlpha | Other Operations      
Segment reporting information      
Net realized and unrealized investment gains (losses) 38.0 27.1 (93.0)
P&C Insurance and Reinsurance (Ark/WM Outrigger)      
Segment reporting information      
Earned insurance premiums 1,587.8 1,409.7 1,043.4
Loss and loss adjustment expenses 855.8 726.8 536.4
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Operating Segments      
Segment reporting information      
Earned insurance premiums 1,587.8 1,409.7 1,043.4
Net investment income 90.7 61.4 16.3
Net realized and unrealized investment gains (losses) 50.1 85.9 (55.2)
Other revenues 22.3 0.8 5.0
Loss and loss adjustment expenses 855.8 726.8 536.4
Acquisition expenses 307.1 281.5 239.4
General and administrative expenses 208.4 162.0 106.2
Change in fair value of contingent consideration 61.3 48.7 17.3
Interest expense 19.5 21.3 15.1
Total expenses 1,452.1 1,240.3 914.4
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Ark Insurance Holdings Limited - Segment | Operating Segments      
Segment reporting information      
Earned insurance premiums 1,499.8 1,305.4 1,043.4
Net investment income 79.4 50.4 16.3
Interest income (expense) from BAM Surplus Notes 0.0 0.0 0.0
Change in fair value of BAM Surplus Notes 0.0    
Unrealized loss on deconsolidation of BAM 0.0    
Commission and fees revenues 0.0 0.0 0.0
Other revenues 22.3 0.8 5.0
Total revenues 1,651.6 1,442.5 1,009.5
Loss and loss adjustment expenses 825.9 711.2 536.4
Acquisition expenses 283.9 251.0 239.4
Cost of sales 0.0 0.0 0.0
Broker commission expense 0.0    
General and administrative expenses 208.3 161.7 106.2
Change in fair value of contingent consideration 61.3 48.7 17.3
Interest expense 19.5 21.3 15.1
Total expenses 1,398.9 1,193.9 914.4
Pre-tax income (loss) from continuing operations 252.7 248.6 95.1
Other underwriting expenses 136.1 113.6 78.7
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Ark Insurance Holdings Limited - Segment | Investments, Excluding MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 50.1 85.9 (55.2)
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Ark Insurance Holdings Limited - Segment | MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0
P&C Insurance and Reinsurance (Ark/WM Outrigger) | WM Outrigger Re - Segment | Operating Segments      
Segment reporting information      
Earned insurance premiums 88.0 104.3  
Net investment income 11.3 11.0  
Interest income (expense) from BAM Surplus Notes 0.0 0.0  
Change in fair value of BAM Surplus Notes 0.0    
Unrealized loss on deconsolidation of BAM 0.0    
Commission and fees revenues 0.0 0.0  
Other revenues 0.0 0.0  
Total revenues 99.3 115.3  
Loss and loss adjustment expenses 29.9 15.6  
Acquisition expenses 23.2 30.5  
Cost of sales 0.0 0.0  
Broker commission expense 0.0    
General and administrative expenses 0.1 0.3  
Change in fair value of contingent consideration 0.0 0.0  
Interest expense 0.0 0.0  
Total expenses 53.2 46.4  
Pre-tax income (loss) from continuing operations 46.1 68.9  
P&C Insurance and Reinsurance (Ark/WM Outrigger) | WM Outrigger Re - Segment | Investments, Excluding MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0 0.0  
P&C Insurance and Reinsurance (Ark/WM Outrigger) | WM Outrigger Re - Segment | MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0 0.0  
Financial Guarantee (HG Global)      
Segment reporting information      
Earned insurance premiums 31.7 31.2 33.3
Financial Guarantee (HG Global) | Operating Segments      
Segment reporting information      
Earned insurance premiums 31.7 31.2 33.3
Net investment income 32.2 31.7 21.5
Net realized and unrealized investment gains (losses) (11.5) 26.6 (105.8)
Interest income (expense) from BAM Surplus Notes 15.8 0.0 0.0
Change in fair value of BAM Surplus Notes 0.5 0.0 0.0
Unrealized loss on deconsolidation of BAM (114.5) 0.0 0.0
Other revenues 1.2 2.9 4.6
Acquisition expenses 8.2 8.6 11.2
Broker commission expense 0.0    
General and administrative expenses 35.7 68.9 69.1
Interest expense 16.7 16.5 8.3
Total expenses 60.6 94.0 88.6
Financial Guarantee (HG Global) | HG Global | Operating Segments      
Segment reporting information      
Earned insurance premiums 28.9 26.0 27.5
Net investment income 23.4 17.1 10.3
Interest income (expense) from BAM Surplus Notes 29.0 26.2 11.7
Change in fair value of BAM Surplus Notes 0.5    
Unrealized loss on deconsolidation of BAM (114.5)    
Commission and fees revenues 0.0 0.0 0.0
Other revenues 0.1 0.0 0.5
Total revenues (39.0) 82.9 (2.5)
Loss and loss adjustment expenses 0.0 0.0 0.0
Acquisition expenses 7.8 7.4 9.3
Cost of sales 0.0 0.0 0.0
Broker commission expense 0.0    
General and administrative expenses 2.2 2.8 2.8
Change in fair value of contingent consideration 0.0 0.0 0.0
Interest expense 16.7 16.5 8.3
Total expenses 26.7 26.7 20.4
Pre-tax income (loss) from continuing operations (65.7) 56.2 (22.9)
Financial Guarantee (HG Global) | HG Global | Investments, Excluding MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) (6.4) 13.6 (52.5)
Financial Guarantee (HG Global) | HG Global | MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0
Financial Guarantee (HG Global) | BAM | Operating Segments      
Segment reporting information      
Earned insurance premiums 2.8 5.2 5.8
Net investment income 8.8 14.6 11.2
Interest income (expense) from BAM Surplus Notes (13.2) (26.2) (11.7)
Change in fair value of BAM Surplus Notes 0.0    
Unrealized loss on deconsolidation of BAM 0.0    
Commission and fees revenues 0.0 0.0 0.0
Other revenues 1.1 2.9 4.1
Total revenues (5.6) 9.5 (43.9)
Loss and loss adjustment expenses 0.0 0.0 0.0
Acquisition expenses 0.4 1.2 1.9
Cost of sales 0.0 0.0 0.0
General and administrative expenses 33.5 66.1 66.3
Change in fair value of contingent consideration 0.0 0.0 0.0
Interest expense 0.0 0.0 0.0
Total expenses 33.9 67.3 68.2
Pre-tax income (loss) from continuing operations (39.5) (57.8) (112.1)
Financial Guarantee (HG Global) | BAM | Investments, Excluding MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) (5.1) 13.0 (53.3)
Financial Guarantee (HG Global) | BAM | MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0
Asset Management (Kudu) | Operating Segments      
Segment reporting information      
Earned insurance premiums 0.0 0.0 0.0
Net investment income 66.7 71.0 54.4
Net realized and unrealized investment gains (losses) 51.3 106.1 64.1
Interest income (expense) from BAM Surplus Notes 0.0 0.0 0.0
Change in fair value of BAM Surplus Notes 0.0    
Unrealized loss on deconsolidation of BAM 0.0    
Commission and fees revenues 0.0 0.0 0.0
Other revenues 0.8 0.0 0.0
Total revenues 118.8 177.1 118.5
Loss and loss adjustment expenses 0.0 0.0 0.0
Acquisition expenses 0.0 0.0 0.0
Cost of sales 0.0 0.0 0.0
Broker commission expense 0.0    
General and administrative expenses 15.4 19.4 14.7
Change in fair value of contingent consideration 0.0 0.0 0.0
Interest expense 22.1 21.2 15.0
Total expenses 37.5 40.6 29.7
Pre-tax income (loss) from continuing operations 81.3 136.5 88.8
Asset Management (Kudu) | Investments, Excluding MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 51.3 106.1 64.1
Asset Management (Kudu) | MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0
P&C Insurance Distribution (Bamboo)      
Segment reporting information      
Loss and loss adjustment expenses 20.6    
P&C Insurance Distribution (Bamboo) | Operating Segments      
Segment reporting information      
Earned insurance premiums 39.4 0.0 0.0
Net investment income 2.2    
Interest income (expense) from BAM Surplus Notes 0.0    
Change in fair value of BAM Surplus Notes 0.0    
Unrealized loss on deconsolidation of BAM 0.0    
Commission and fees revenues 134.6 0.0 0.0
Other revenues 5.8 0.0 0.0
Total revenues 179.8    
Loss and loss adjustment expenses 20.6 0.0 0.0
Acquisition expenses 14.1 0.0 0.0
Cost of sales 0.0    
Broker commission expense 51.3 0.0 0.0
General and administrative expenses 61.1 0.0 0.0
Change in fair value of contingent consideration 0.0    
Interest expense 0.0    
Total expenses 147.1 $ 0.0 $ 0.0
Pre-tax income (loss) from continuing operations 32.7    
Amortization of other intangibles 16.4    
P&C Insurance Distribution (Bamboo) | Investments, Excluding MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0    
P&C Insurance Distribution (Bamboo) | MediaAlpha | Operating Segments      
Segment reporting information      
Net realized and unrealized investment gains (losses) 0.0    
Bamboo Ide8 Services, LLC - Segment, Net Of Reconciling Items | Operating Segments      
Segment reporting information      
Other revenues $ 3.6