---
schema_version: "secwatch.filing_event.v1"
accession: "0000776867-23-000001"
form_type: "8-K"
ticker: "WTM"
cik: "0000776867"
company_name: "WHITE MOUNTAINS INSURANCE GROUP LTD"
filed_at: "2023-02-07T23:59:59+00:00"
generated_at: "2026-06-19T23:25:05.194704+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# White Mountains Q4 ABVPS up 2% to $1,495; full-year ABVPS +26%

## Summary
- Comprehensive income $40M in Q4, $788M for full year 2022, driven by NSM sale gain of $876M.
- Ark GAAP combined ratio 59% in Q4, 82% full year; gross written premiums up 37% YoY to $1.45B.
- BAM gross written premiums & MSC $38M in Q4, $147M for full year; claims-paying resources $1.42B.
- Kudu adjusted EBITDA $9M in Q4, $42M full year (+27% YoY); deployed $713M across 20 firms.
- Launched Outrigger Re with $205M capital; repurchased 4,076 shares for $5M in Q4.

## SEC filing metadata
- accession: 0000776867-23-000001
- form_type: 8-K
- ticker: WTM
- cik: 0000776867
- company_name: WHITE MOUNTAINS INSURANCE GROUP LTD
- filed_at: 2023-02-07T23:59:59+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/776867/000077686723000001/0000776867-23-000001-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776867/000077686723000001/wtm-20230207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776867-23-000001
- JSON: https://secwatch.observer/filing/0000776867-23-000001.json
- Plain text: https://secwatch.observer/filing/0000776867-23-000001.txt

## Key facts
- Earnings Releases
  WHITE MOUNTAINS INSURANCE GROUP LTD reported financial results for the year ended December 31, 2022.
  - Period: the year ended December 31, 2022
  - Result: reported results
  source text: Comprehensive income (loss) attributable to common shareholders was $40 million and $788 million in the fourth quarter and year ended December 31, 2022 compared to $34 million and $(273) million in the fourth quarter and year ended December 31, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/776867/000077686723000001/0000776867-23-000001-index.htm
- Earnings Releases
  WHITE MOUNTAINS INSURANCE GROUP LTD reported financial results for the three months ended December 31, 2022.
  - Period: the three months ended December 31, 2022
  - Result: reported results
  source text: Comprehensive income (loss) attributable to common shareholders was $40 million and $788 million in the fourth quarter and year ended December 31, 2022 compared to $34 million and $(273) million in the fourth quarter and year ended December 31, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/776867/000077686723000001/0000776867-23-000001-index.htm

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