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Sep 30, 2023
White Mountains Q3 2023 Earnings Report
Reported a 1% increase in both book value per share and adjusted book value per share.
Key Takeaways
White Mountains reported a 1% increase in adjusted book value per share (ABVPS) for the third quarter of 2023. Ark's combined ratio was 81% while growing premiums 17% year over year. WM Outrigger Re delivered a 44% combined ratio. The fair value of Kudu’s portfolio of existing participation contracts grew 2%.
ABVPS was up 1% in the quarter and 6% year-to-date.
BAM generated $36 million of total gross written premiums and member surplus contributions in the quarter; primary market issuance remains below historical levels but ticked up slightly year-over-year.
Ark produced an 81% combined ratio while growing premiums 17% year over year.
WM Outrigger Re delivered a 44% combined ratio and $37 million of pre-tax income.
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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