earnings
confidence high
sentiment positive
materiality 0.75
White Mountains Q2 book value per share up 4% to $2,258; Ark combined ratio 84%
WHITE MOUNTAINS INSURANCE GROUP LTD
- Book value per share $2,258, up 4% in Q2; comprehensive income $199M.
- Ark combined ratio 84% in Q2; gross written premiums $778M, down 5% YoY due to property softening.
- Kudu Q2 total revenues $69M, pre-tax income $57M, adjusted EBITDA $16M; trailing 12-month ROE 15%.
- HG Global refinanced senior debt to $200M at 7.4% fixed; paid $93M dividend ($90M to White Mountains).
- Repurchased 91,194 shares for $191M at avg $2,092.72 (93% of book value); undeployed capital ~$0.8B.