secwatch.observer — SEC 8-K summary
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Issuer:     WHITE MOUNTAINS INSURANCE GROUP LTD (WTM)
CIK:        0000776867
Form:       8-K
Filed at:   2025-05-07T23:59:59+00:00
Accession:  0000776867-25-000005
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

White Mountains Q1 book value per share $1,752 (+0.4%); Ark combined ratio 94%, gross premiums up 27%
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- Comprehensive income $35M vs $236M prior year; MediaAlpha unrealized loss $37M vs gain $211M.
- Ark gross written premiums $1,108M (+27% YoY); combined ratio 94% includes $75M California wildfire losses.
- Bamboo MGA adjusted EBITDA $20M (3x YoY); managed premiums $147M (+63%); $160M wildfire losses within reinsurance.
- Kudu adjusted EBITDA $16M (+14% YoY); trailing 12-month ROE 13%; completed Homestead farmland investment.
- Total consolidated portfolio return ex-MediaAlpha 2.3% vs 1.2% prior year; undeployed capital ~$550M after April deployments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/776867/000077686725000005/0000776867-25-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/776867/000077686725000005/wtm-20250506.htm
  HTML page:      https://secwatch.observer/filing/0000776867-25-000005

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer