White Mountains Insurance Group, Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 08:48 am EDT
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White Mountains Insurance Group, Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 378.4 million compared to USD 76.7 million a year ago. Net income was USD 19.6 million compared to net loss of USD 169.2 million a year ago. Basic earnings per share from continuing operations was USD 7.65 compared to basic loss per share from continuing operations of USD 58.78 a year ago. Diluted earnings per share from continuing operations was USD 7.65 compared to diluted loss per share from continuing operations of USD 58.78 a year ago. Basic earnings per share was USD 7.65 compared to basic loss per share of USD 56.8 a year ago. Diluted earnings per share was USD 7.65 compared to diluted loss per share of USD 56.8 a year ago.
For the six months, revenue was USD 910.3 million compared to USD 337.1 million a year ago. Net income was USD 199.1 million compared to net loss of USD 135.8 million a year ago. Basic earnings per share from continuing operations was USD 77.57. Diluted earnings per share from continuing operations was USD 77.57. Basic earnings per share was USD 77.57 compared to basic loss per share of USD 45.4 a year ago. Diluted earnings per share was USD 77.57 compared to diluted loss per share of USD 45.4 a year ago.
White Mountains Insurance Group, Ltd. is a financial service holding company. The Company is engaged in the acquisition of businesses and assets in the insurance, financial services, and related sectors, operating these businesses and assets through its subsidiaries and disposing of these businesses and assets. The Companyâs segments include HG Global/BAM, Ark/WM Outrigger and Kudu. The Company conducts its business primarily in four areas: municipal bond insurance, property and casualty insurance and reinsurance, capital solutions for asset and wealth management firms and other operations. Its municipal bond insurance business is conducted through its subsidiary HG Global Ltd. Its property and casualty insurance and reinsurance business are conducted through its subsidiary Ark Insurance Holdings Limited and its subsidiaries. The Company, through its subsidiary, Kudu Investment Management, LLC, and its subsidiaries, provides capital solutions for asset and wealth management firms.
WHITE MOUNTAINS INSURANCE GROUP, LTD. 
