---
schema_version: "secwatch.filing_event.v1"
accession: "0000776867-25-000016"
form_type: "8-K"
ticker: "WTM"
cik: "0000776867"
company_name: "WHITE MOUNTAINS INSURANCE GROUP LTD"
filed_at: "2025-09-03T23:59:59+00:00"
generated_at: "2026-05-17T08:41:26.406419+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# White Mountains closes $224M acquisition of 50% of Distinguished Programs, now holds 51% control

## Summary
- Closed acquisition of 50% of AQ Phoenix Parent, L.P. (Distinguished Programs) for $224M in cash on Sept. 2, 2025.
- Combined with existing ~1% interest, White Mountains now owns a 51% controlling interest in Distinguished Programs.
- Transaction closed via indirect wholly owned subsidiaries WM Monroe Holdings, Inc. and WM Phoenix GP, LLC.
- No additional financing or regulatory conditions disclosed post-closing.

## SEC filing metadata
- accession: 0000776867-25-000016
- form_type: 8-K
- ticker: WTM
- cik: 0000776867
- company_name: WHITE MOUNTAINS INSURANCE GROUP LTD
- filed_at: 2025-09-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776867/000077686725000016/0000776867-25-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776867/000077686725000016/wtm-20250902.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000776867-25-000016
- JSON: https://secwatch.observer/filing/0000776867-25-000016.json
- Plain text: https://secwatch.observer/filing/0000776867-25-000016.txt

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