---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-26-053913"
form_type: "8-K"
ticker: "WTM"
cik: "0000776867"
company_name: "WHITE MOUNTAINS INSURANCE GROUP LTD"
filed_at: "2026-08-06T12:14:20+00:00"
generated_at: "2026-08-06T12:15:18.001334+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# White Mountains Q2 book value per share up 4% to $2,258; Ark combined ratio 84%

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-26-053913
- form_type: 8-K
- ticker: WTM
- cik: 0000776867
- company_name: WHITE MOUNTAINS INSURANCE GROUP LTD
- filed_at: 2026-08-06T12:14:20+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/776867/000162828026053913/0001628280-26-053913-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/776867/000162828026053913/wtm-20260806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-26-053913
- JSON: https://secwatch.observer/filing/0001628280-26-053913.json
- Plain text: https://secwatch.observer/filing/0001628280-26-053913.txt

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