Quarterly ResultAug 6, 2026, 08:18 AM
White Mountains Q2 Book Value Per Share Up 4% to $2,258
AI Summary
White Mountains Insurance Group reported strong second quarter 2026 results, with book value per share increasing 4% to $2,258. Comprehensive income attributable to common shareholders rose to $199 million, driven by significant net realized and unrealized investment gains. The company repurchased $191 million in shares and deployed $132 million into new acquisitions for WTM Partners, while Ark and Kudu segments also showed robust performance.
Key Highlights
- Book value per share increased 4% to $2,258 in Q2 2026, and 3% for the first six months.
- Comprehensive income attributable to common shareholders was $199 million in Q2 2026, up from $124 million in Q2 2025.
- Net realized and unrealized investment gains totaled $151 million in Q2 2026, including $58 million from MediaAlpha.
- White Mountains repurchased $191 million of common shares in Q2 2026 at an average price of $2,092.72.
- Ark reported an 84% combined ratio and 6% growth in tangible book value in Q2 2026.
- Kudu generated a 15% return on equity on a trailing 12-month basis, driven by strong growth and sale transactions.
- HG Global paid a $90 million dividend to White Mountains after refinancing its senior debt facility.
- WTM Partners deployed $132 million into two acquisitions, Basesix and Hawkeye Electric, reporting $9 million adjusted EBITDA in Q2 2026.
Price Impact
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