White Mountains Insurance Group, Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 06, 2023 at 08:34 am EST
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White Mountains Insurance Group, Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 519.6 million compared to USD 383.2 million a year ago. Net income was USD 23.6 million compared to USD 888.2 million a year ago. Basic earnings per share from continuing operations was USD 9.19 compared to basic loss per share from continuing operations of USD 1.66 a year ago. Diluted earnings per share from continuing operations was USD 9.19 compared to diluted loss per share from continuing operations of USD 1.66 a year ago. Basic earnings per share was USD 9.19 compared to USD 306.93 a year ago. Diluted earnings per share was USD 9.19 compared to USD 306.93 a year ago.
For the nine months, revenue was USD 1,429.9 million compared to USD 720.3 million a year ago. Net income was USD 222.7 million compared to USD 752.4 million a year ago. Basic earnings per share from continuing operations was USD 86.82 compared to basic loss per share from continuing operations of USD 50.73 a year ago. Diluted earnings per share from continuing operations was USD 86.82 compared to diluted loss per share from continuing operations of USD 50.73 a year ago. Basic earnings per share was USD 86.82 compared to USD 254.24 a year ago. Diluted earnings per share was USD 86.82 compared to USD 254.24 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. 
