---
schema_version: "secwatch.filing_event.v1"
accession: "0000776867-22-000015"
form_type: "8-K"
ticker: "WTM"
cik: "0000776867"
company_name: "WHITE MOUNTAINS INSURANCE GROUP LTD"
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T06:09:09.282334+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# White Mountains Q3 BVPS up 28% to $1,439; $876M net gain from NSM sale drives comprehensive income of $890M

## Summary
- Adjusted BVPS of $1,471 as of Sept 30, up 28% quarter-over-quarter; YTD increase including dividends of 24%.
- Q3 comprehensive income $890M; net gain from NSM sale of $876M, closed Aug 1, added ~$300 to ABVPS.
- Ark adjusted combined ratio 86% (87% GAAP) despite $51M net Hurricane Ian losses; GWP up 33% YoY to $216M.
- BAM insured $4.1B par in Q3; GWP $46M; pricing 110 bps; Kudu revenues $56M, adjusted EBITDA $12M.
- Repurchased 366,645 shares for $509M in Q3 at avg $1,388 (94% of ABVPS); YTD repurchases $611M.

## SEC filing metadata
- accession: 0000776867-22-000015
- form_type: 8-K
- ticker: WTM
- cik: 0000776867
- company_name: WHITE MOUNTAINS INSURANCE GROUP LTD
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776867/000077686722000015/0000776867-22-000015-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776867/000077686722000015/wtm-20221107.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776867-22-000015
- JSON: https://secwatch.observer/filing/0000776867-22-000015.json
- Plain text: https://secwatch.observer/filing/0000776867-22-000015.txt

## Key facts
- Earnings Releases
  WHITE MOUNTAINS INSURANCE GROUP LTD reported financial results for three and nine months ended September 30, 2022.
  - Period: three and nine months ended September 30, 2022
  - Result: reported results
  source text: On November 7, 2022, White Mountains Insurance Group, Ltd. issued a press release announcing its results for the three and nine months ended September 30, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/776867/000077686722000015/0000776867-22-000015-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.