White Mountains Insurance Group Earnings Call Transcripts
Fiscal Year 2026
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Book value per share grew 25% in 2025, fueled by the Bamboo sale and strong results across core businesses. Capital deployment remains disciplined, with $1.1 billion undeployed and a focus on patient, relationship-driven investments. AI and new business models are driving growth and differentiation across the portfolio.
Fiscal Year 2025
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Adjusted book value per share rose 8% in 2024, driven by strong results at Ark, Outrigger, and Bamboo, while new capital deployments target insurance brokerage and specialty contracting. The portfolio remains diversified and conservatively managed, with ongoing focus on compounding per-share value and expanding into new sectors.
Fiscal Year 2024
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Strong growth in book value and stock price was driven by diversified capital deployment, robust operating results at Ark, Kudu, and new investments like Bamboo. The company maintains disciplined capital management, a focus on insurance and related services, and a flexible, long-term investment approach.