White Mountains Insurance Group News

White Mountains to Buy 72% Stake in Lloyd’s Insurer Ark for Growth in Hardening Market

White Mountains Insurance Group, Ltd. announced it has entered into a definitive agreement to invest fresh capital in and to acquire a majority interest in Ark Insurance Holdings Ltd., the parent company of Ark Syndicate Management Ltd. With its leading …

White Mountains Buys Majority Stake in Program Manager NSM

Bermuda-based insurance holding company White Mountains Insurance Group is acquiring a majority equity stake in NSM Insurance Group (NSM), the specialty insurance program administrator. The transaction values NSM at approximately $388 million, according to the announcement. White Mountains said it …

Campbell Appointed CFO of White Mountains

Bermuda-based White Mountains Insurance Group Ltd. announced that Reid T. Campbell will become its chief financial officer on May 17, 2017. Campbell has served as a managing director of White Mountains Capital Inc. since January 2004 and as the president …

White Mountains Names Rountree as CEO, Replacing Barrette Who Is Retiring

Bermuda-based White Mountains Insurance Group Ltd. announced the election of Manning Rountree as chief executive officer, effective immediately, succeeding Ray Barrette, who is retiring. Rountree has also been elected to the company’s board of directors. Barrette also retired as chairman …

White Mountain’s OneBeacon Reported to Be Up for Sale

OneBeacon Insurance Group Ltd., the specialty insurer controlled by White Mountains Insurance Group Ltd., is exploring a sale, people familiar with the matter said. The Bermuda-based company recently began working with Credit Suisse Group AG to solicit offers from rival …

Data Conversion Startup Captricity Gets White Mountain Insurance Backing

Captricity Inc., an Oakland, Calif.-based startup that gives businesses in regulated industries easy access to customer data trapped in handwritten forms, has raised $35 million in a Series C round of financing led by White Mountains Insurance Group. The latest …

China Minsheng Investment to Acquire White Mountains’ Sirius for $2.2B

White Mountains Insurance Group Ltd. agreed to sell Sirius International Insurance Group Ltd. for about $2.2 billion to an arm of China Minsheng Investment Corp. The price for the reinsurer will be 127 percent of shareholders’ equity, plus $10 million, …

OneBeacon Explores Sale; China’s Fosun Interested: Sources

OneBeacon Insurance Group Ltd., a specialty insurer controlled by White Mountains Insurance Group Ltd., is exploring a sale, according to people with knowledge of the matter. OneBeacon has drawn interest from companies including China’s Fosun International Ltd., said the people, …

Rating Agencies Warn OneBeacon After Loss Reserve Charge

OneBeacon Insurance Group has been dealt a ratings outlook warning from Fitch Ratings and an outright downgrade from Moody’s Investors Service, stemming from substantial adverse reserve development in the 20914 fourth quarter and fiscal year. Moody’s downgraded OneBeacon’s U.S. Holdings …

White Mountains Buys Majority Stake in Internet Insurance Broker Tranzact

White Mountains Insurance Group Ltd. purchased a majority stake in Tranzact for $178 million as the insurer renews its bet on policy sales through the Internet. White Mountains acquired 63 percent of Tranzact, which operates DirectHealth.com, the online insurance comparison …