---
schema_version: "secwatch.filing_event.v1"
accession: "0000776867-23-000005"
form_type: "8-K"
ticker: "WTM"
cik: "0000776867"
company_name: "WHITE MOUNTAINS INSURANCE GROUP LTD"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:53:38.464445+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# White Mountains Q1 ABVPS up 5% to $1,567; Ark combined ratio 94%, GWP up 28%

## Summary
- Comprehensive income attributable to common shareholders $180M vs $31M in Q1 2022.
- Ark gross written premiums $809M (+28% YoY); combined ratio 94% (vs 100% Q1 2022).
- Kudu adjusted EBITDA $11M; annualized adjusted EBITDA $37M; new deployment closed.
- MediaAlpha investment value $254M, up from $169M at year-end; $85M mark-to-market gain.
- Repurchased 18,623 shares for $25M at avg $1,360.30 (87% of ABVPS).

## SEC filing metadata
- accession: 0000776867-23-000005
- form_type: 8-K
- ticker: WTM
- cik: 0000776867
- company_name: WHITE MOUNTAINS INSURANCE GROUP LTD
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776867/000077686723000005/0000776867-23-000005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776867/000077686723000005/wtm-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776867-23-000005
- JSON: https://secwatch.observer/filing/0000776867-23-000005.json
- Plain text: https://secwatch.observer/filing/0000776867-23-000005.txt

## Key facts
- Earnings Releases
  WHITE MOUNTAINS INSURANCE GROUP LTD reported financial results for the three months ended March 31, 2023.
  - Period: the three months ended March 31, 2023
  - Result: reported results
  source text: White Mountains Insurance Group, Ltd. issued a press release announcing its results for the three months ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/776867/000077686723000005/0000776867-23-000005-index.htm

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