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Jun 30, 2022
White Mountains Q2 2022 Earnings Report
Reported a decrease in book value per share and adjusted book value per share, but operating businesses produced good results.
Key Takeaways
White Mountains Insurance Group reported a decrease in book value per share and adjusted book value per share for the second quarter of 2022, primarily due to mark-to-market losses in fixed income portfolios and a decline in MediaAlpha's share price. However, the company's operating businesses, including BAM and Ark, performed well. The sale of NSM closed on August 1, adding roughly $300 to ABVPS, and the company repurchased $63 million of shares during the quarter.
Book value per share and adjusted book value per share decreased by 5% and 4%, respectively.
NSM's results have been presented as discontinued operations beginning in the second quarter of 2022, with the sale adding roughly $300 to ABVPS.
BAM produced record levels of par insured, with gross written premiums and member surplus contributions (MSC) collected increasing.
Ark produced an 87% combined ratio while growing premiums 23% year-over-year.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
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