White Mountains Insurance Group

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White Mountains Insurance Group, Ltd.
Traded asNYSEWTM
Russell 1000 Component

White Mountains Insurance Group (NYSEWTM) is a diversified insurance and related financial services holding company based in Hamilton, Bermuda. Redomiciled from Delaware on October 25, 1999, the company conducts most of its business through its insurance subsidiaries and other affiliates.[1][2]

The company owned the automobile insurer Esurance before selling it to Allstate for $1 billion.[3]

Heritage[edit]

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.[4] When Byrne took Fireman's Fund public in 1985, it was the largest IPO in American history,[5] and the insurer was sold to Allianz six years later.[6] 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.[4]

In August 2019, the company reported reported book value per share of $987.[7]

Leadership[edit]

White Mountain Insurance's current director is CEO George Manning Rountree.[8][9]

References[edit]

  1. ^ Editorial, Reuters. "${Instrument_CompanyName} ${Instrument_Ric} Company Profile - Reuters.com". U.S.
  2. ^ "Bloomberg - Are you a robot?". www.bloomberg.com.
  3. ^ "Allstate Buys Insurance Businesses for $1 Billion". DealBook. May 18, 2011.
  4. ^ a b "Heritage – White Mountains". Whitemountains.com. Retrieved 2019-08-12.
  5. ^ "Fireman's Fund Celebrates Its Going Public". Los Angeles Times. October 24, 1985.
  6. ^ Name * (2015-04-01). "Allianz Completes Sale of Fireman's Fund Personal Lines to ACE". Insurancejournal.com. Retrieved 2019-08-12.
  7. ^ Editorial, Reuters. "${Instrument_CompanyName} ${Instrument_Ric} Company Profile | Reuters.com". U.S.
  8. ^ "Team – White Mountains". Whitemountains.com. Retrieved 2019-08-12.
  9. ^ "Bloomberg - Are you a robot?". www.bloomberg.com.

External links[edit]