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Jun 30, 2020
White Mountains Q2 2020 Earnings Report
Reported an increase in adjusted book value per share, driven by investment portfolio returns and strong performance across several business segments.
Key Takeaways
White Mountains reported a good second quarter with a 4% increase in adjusted book value per share to $1,022, primarily driven by a 6.5% return on the investment portfolio. Several business segments, including BAM, NSM, Kudu, and MediaAlpha, showed strong performance.
Adjusted book value per share increased by 4% to $1,022, driven by a 6.5% return on the investment portfolio.
BAM had its biggest quarter ever, writing $43 million of direct premiums and member surplus contributions.
NSM saw 2% organic growth in controlled premiums and closed the Kingsbridge acquisition.
Kudu benefited from the rebound in investment markets and closed the Sequoia transaction.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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