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WHITE MOUNTAINS INSURANCE GROUP LTD

WHITE MOUNTAINS INSURANCE GROUP LTDWTMEarnings & Financial Report

NYSE

White Mountains Insurance Group is a diversified insurance and related financial services holding company based in Hamilton, Bermuda. Redomiciled from Delaware, United States, on October 25, 1999, the company conducts most of its business through its insurance subsidiaries and other affiliates.

WTM Q3 2025 Key Financial Metrics

Revenue

$864.2M

Gross Profit

$808.9M

Operating Profit

$178.8M

Net Profit

$113.8M

Gross Margin

93.6%

Operating Margin

20.7%

Net Margin

13.2%

YoY Growth

3.0%

EPS

$44.18

Financial Flow

WHITE MOUNTAINS INSURANCE GROUP LTD Q3 2025 Financial Summary

WHITE MOUNTAINS INSURANCE GROUP LTD reported revenue of $864.2M for Q3 2025, with a net profit of $113.8M (13.2% margin). Cost of goods sold was $55.3M, operating expenses totaled $630.1M.

Key Financial Metrics

Total Revenue$864.2M
Net Profit$113.8M
Gross Margin93.6%
Operating Margin20.7%
Report PeriodQ3 2025

WHITE MOUNTAINS INSURANCE GROUP LTD Annual Revenue by Year

WHITE MOUNTAINS INSURANCE GROUP LTD annual revenue history includes year-by-year totals (for example, 2024 revenue was $2.2B).

YearAnnual Revenue
2024$2.2B
2023$2.2B
2022$1.2B

Income Statement

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Revenue$736.8M$647.3M$395.4M$839.1M$358.0M$577.8M$689.2M$864.2M
YoY Growth111.1%21.7%4.5%61.5%-51.4%-10.7%74.3%3.0%

Balance Sheet

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Assets$8.39B$9.59B$10.17B$10.34B$9.93B$11.00B$11.82B$12.35B
Liabilities$3.82B$4.70B$5.29B$5.08B$4.79B$5.87B$6.48B$6.63B
Equity$4.24B$4.47B$4.42B$4.61B$4.48B$4.51B$4.64B$4.77B

Cash Flow

Q4 2023Q1 2024Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025Q3 2025
Operating CF$24.5M$36.5M$216.8M$269.4M$64.1M$-40.2M$177.5M$359.3M