White Mountains Q2 BVPS +3% to $1,804; Ark combined ratio 84%, Bamboo record quarter

WHITE MOUNTAINS INSURANCE GROUP LTD

2025-Q2 EPS reported $60.99 revenue$1,267,000,000

BVPS $1,804 (+3% for Q2 and H1); comprehensive income $124M vs -$55M prior year.
Ark combined ratio 84% (improved from 87%); GWP $815M (+17% YoY).
Bamboo MGA pre-tax $15M, MGA adj. EBITDA $26M; managed premiums $191M (+59% YoY).
HG Global GWP $19M (record Q2, +66% YoY); Kudu adj. EBITDA $16M, ROE 8%.
Completed BroadStreet deal, announced Distinguished acquisition; undeployed capital ~$300M.

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