The financials
White Mountains Insurance Group, Ltd. by the numbers
White Mountains Insurance Group, Ltd. (WTM) reported revenue of $518M in Q1 2026 (quarter ended March 31, 2026), down 10% from the same quarter a year earlier. That came with net loss of $26M. For the full year FY2025, revenue was $3.73B (+67% year on year) and net income $1.20B. Its largest segment in 2026-Q1 was Ark Insurance Holdings Limited WM Outrigger Re at $376M, 76% of the disclosed total, just ahead of Kudu Investment Management LLC at 13%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $518M | $578M | −10% |
| Net income | −$26M | $63M | to a loss |
| Diluted EPS | −$12.59 | $13.19 | to a loss |
| Operating | Revenue | Share |
|---|---|---|
| Ark Insurance Holdings Limited WM Outrigger Re | $376M | 76% |
| Kudu Investment Management LLC | $63M | 13% |
| Distinguished Partners | $40M | 8.1% |
| HG Global BAM | $17M | 3.5% |
Business Segments
Revenue split by operating segment, from SEC XBRL filings.
Latest period: Q1 2026Total $496.8M (-35%)
Kudu Investment Management LLC grew -1.3% year on yearBamboo Insurance Services LLC -100% year on year
Segment Latestquarter on quarteryear on year
- Ark Insurance Holdings Limited WM Outrigger Re$376.3M$376.3MQoQ -36%year on year -8.9%-36%-8.9%
- Kudu Investment Management LLC$63.0M$63.0MQoQ +16%year on year -1.3%+16%-1.3%
- Distinguished Partners$40.3M$40.3MQoQ +182%year on year -+182%-
- HG Global BAM$17.2M$17.2MQoQ -41%year on year -46%-41%-46%
- Bamboo Ide8 Insurance Services LLC--QoQ -year on year ---
- Bamboo Insurance Services LLC$0.00$0.00QoQ -year on year -100%--100%
Insurance - Property & Casualty
Ranks #15 of 31 by Smart Score