White Mountains Insurance Group
| NYSE: WTM Russell 1000 Component | |
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White Mountains Insurance Group (NYSE: WTM) 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.[1]
The company owned the automobile insurer Esurance before selling it to Allstate for $1 billion.[2]
Heritage
White Mountain Insurance Group began in the early 1980s by Jack Byrne, the man recruited by American Express to turn around troubled property and casualty insurer Fireman's Fund.[3] When Byrne took Fireman's Fund public in 1985, it was the largest IPO in American history,[4] and the insurer was sold to Allianz six years later.[5] Upon completion of the Fireman's Fund sale in 1991, the remaining holding company and residual assets formed the starting point for the future White Mountains.[3]
In August 2019, the company reported book value per share of $987.[1]
Leadership
White Mountain Insurance's current director is CEO George Manning Rountree.[6][7]
References
- ^ a b "White Mountains Insurance Group Ltd". Reuters. Retrieved 7 January 2020.
- ^ "Allstate Buys Insurance Businesses for $1 Billion". DealBook. May 18, 2011.
- ^ a b "Heritage – White Mountains". Whitemountains.com. Retrieved 2019-08-12.
- ^ "Fireman's Fund Celebrates Its Going Public". Los Angeles Times. October 24, 1985.
- ^ "Allianz Completes Sale of Fireman's Fund Personal Lines to ACE". Insurancejournal.com. 2015-04-01. Retrieved 2019-08-12.
- ^ "Team – White Mountains". Whitemountains.com. Retrieved 2019-08-12.
- ^ "White Mountains Insurance Group Ltd". www.bloomberg.com. Retrieved 7 January 2020.
External links
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