EX-21 5 wtm10-k2025exhibit21.htm EX-21
Exhibit 21
SUBSIDIARIES OF THE REGISTRANT
AS OF DECEMBER 31, 2025

FULL NAME OF SUBSIDIARY | PLACE OF INCORPORATION
ARK INSURANCE HOLDINGS LIMITED | BERMUDA
GROUP ARK INSURANCE HOLDINGS LIMITED | BERMUDA
GROUP ARK INSURANCE LIMITED | BERMUDA
HG GLOBAL LTD | BERMUDA
HG HOLDINGS LTD | BERMUDA
HG RE LTD | BERMUDA
HG SERVICES LTD | BERMUDA
PSC HOLDINGS LTD. | BERMUDA
WHITE MOUNTAINS HOLDINGS LTD | BERMUDA
WHITE MOUNTAINS INVESTMENTS (BERMUDA) LTD. | BERMUDA
WM HINSON (BERMUDA) LTD | BERMUDA
WM PAGET (BERMUDA) LTD | BERMUDA
AFSF V AIV PHOENIX AGGREGATOR LP | DELAWARE, USA
COPPER FUNDING, LLC | DELAWARE, USA
DISTINGUISHED, LLC | DELAWARE, USA
DISTINGUISHED CAPITAL, LLC | DELAWARE, USA
DISTINGUISHED GROUP, LLC | DELAWARE, USA
DISTINGUISHED PRIZE INDEMNITY, LLC | DELAWARE, USA
DISTINGUISHED PROGRAMS INS BROKERAGE, LLC | DELAWARE, USA
DISTINGUISHED PROGRAMS, LLC | DELAWARE, USA
DISTINGUISHED PROGRAMS RISK MANAGEMENT, LLC | DELAWARE, USA
DISTINGUISHED SPECIALTY INS. BROKERAGE, LLC | DELAWARE, USA
DISTINGUISHED SPECIALTY RISK MANAGEMENT, LLC | DELAWARE, USA
DP D&O MANAGEMENT , LLC | DELAWARE, USA
DP FINE ART AND COLLECTIBLES, LLC | DELAWARE, USA
DP INLAND MARINE MANAGEMENT, LLC | DELAWARE, USA
DP SURETY MANAGEMENT, LLC | DELAWARE, USA
DEPI HOLDINGS, LLC | DELAWARE, USA
IDP HOSPITALITY GROUP, LLC | DELAWARE, USA
IDP HOLDINGS, LLC | DELAWARE, USA
KUDU INVESTMENT HOLDINGS, LLC | DELAWARE, USA
KUDU INVESTMENT MANAGEMENT LLC | DELAWARE, USA
KUDU INVESTMENT US, LLC | DELAWARE, USA
PHOENIX INTERMEDIATE, LLC | DELAWARE, USA
PHOENIX MERGER PARENT, LLC | DELAWARE, USA
TK PARTNERS, LLC | DELAWARE, USA
WHITE MOUNTAINS ADVISORS LLC | DELAWARE, USA
WHITE MOUNTAINS CAPITAL, LLC | DELAWARE, USA
WHITE MOUNTAINS PARTNERS, LLC | DELAWARE, USA
WHITE MOUNTAINS SERVICES LLC | DELAWARE, USA
WM ADAMS HOLDINGS, INC | DELAWARE, USA
WM CLAY HOLDINGS, INC | DELAWARE, USA
WM JEFFERSON HOLDINGS, INC | DELAWARE, USA
WM LAFAYETTE HOLDINGS, LLC | DELAWARE, USA
WM LINCOLN HOLDINGS, LLC | DELAWARE, USA
WM MADISON HOLDINGS, INC | DELAWARE, USA
WM MONROE HOLDINGS, INC | DELAWARE, USA
WM MONROE BLOCKER GP, LLC | DELAWARE, USA
WM MONROE BLOCKER, L.P. | DELAWARE, USA
WM PHOENIX BLOCKER GP, LLC | DELAWARE, USA
WM PHOENIX BLOCKER, L.P. | DELAWARE, USA
WM PHOENIX PARENT, L.P. | DELAWARE, USA
WM PORTFOLIO HOLDINGS, LLC | DELAWARE, USA
WMP INVESTMENTS I, INC | DELAWARE, USA
WM TAYLOR HOLDINGS, INC | DELAWARE, USA
WM WEBSTER HOLDINGS, INC | DELAWARE, USA
TNUVA FINANCIT LTD | ISRAEL
WOBI INSURANCE AGENCY, LTD | ISRAEL
WHITE MOUNTAINS INVESTMENTS (LUXEMBOURG) S.A.R.L | LUXEMBOURG
ENTERPRISE ELECTRIC, LLC | TENNESSEE, USA
ACCIDENT & HEALTH UNDERWRITING LIMITED | UNITED KINGDOM
ACCIDENT & HEALTH CLAIMS LLP | UNITED KINGDOM
ARK CORPORATE MEMBER LIMITED | UNITED KINGDOM
ARK CORPORATE MEMBER NO. 2 LIMITED | UNITED KINGDOM
ARK CORPORATE MEMBER NO. 3 LIMITED | UNITED KINGDOM
ARK CORPORATE MEMBER NO. 4 LIMITED | UNITED KINGDOM
ARK SYNDICATE MANAGEMENT LIMITED | UNITED KINGDOM
KFO HOLDINGS LTD | UNITED KINGDOM
KWCP HOLDINGS UK LTD | UNITED KINGDOM
SYNDICATE ARK 4020 | UNITED KINGDOM
SYNDICATE NOA 3902 | UNITED KINGDOM
WM BIRKDALE LTD | UNITED KINGDOM
WM CAPITAL HOLDINGS LTD | UNITED KINGDOM
WM INTERNATIONAL HOLDINGS LTD | UNITED KINGDOM
WM REGENT, LTD | UNITED KINGDOM
RICHMOND RISK MANAGEMENT, INC | VIRGINIA, USA

Certain other subsidiaries of the Company have been omitted since, in the aggregate, they would not constitute a significant subsidiary.