NYSE$WTM
White Mountains Insurance Group Ltd · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Reported a decrease in book value per share and adjusted book value per share, driven by decrease in MediaAlpha's share price, but solid performance in operating companies.
White Mountains Insurance Group reported a decrease in book value per share of 9% to $1,162 and adjusted book value per share of 9% to $1,176 as of September 30, 2021. The results were driven by net realized and unrealized investment losses from MediaAlpha. Excluding MediaAlpha, the investment portfolio returned 1.4% in the quarter.
- ABVPS was down 9% in the third quarter, driven by the decrease in MediaAlpha’s share price.
- BAM produced $28 million of total premiums and member surplus contributions.
- Ark produced an 89% adjusted combined ratio while increasing gross written premiums 79% year over year.
- NSM posted record levels of both pro forma controlled premium and pro forma adjusted EBITDA, driven by solid growth in its existing verticals and the J.C. Taylor acquisition.
Headline financials
Revenue & EPS history
White Mountains · Revenue · Quarterly
-$10.1M
Revenue by segment
White Mountains · -$310M total across 3 segments · Q3 2021
- Asset Management$28.5M+74.8%-9.2%
- Financial Guarantee$7.4M-49.0%-2.4%
- Other Operations-$346M-196.6%111.6%
Forward guidance
Company remains optimistic about deploying capital in 2021 and into 2022.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.3%
Avg return
Earnings day
+0.9%
Avg return
5 days after
+1.3%
Avg return
30 days after
51%
34 / 67 earnings
Positive
+8.3%
Q1 2022
Best reaction
-4.2%
Q2 2012
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.8% | -0.9% | -4.2% | |
| Q4 2025 | +2.5% | +0.8% | +1.8% | |
| Q3 2025 | -0.2% | +1.5% | +7.2% | |
| Q1 2025 | +0.9% | -0.8% | -2.7% | |
| Q4 2024 | -3.4% | -7.3% | -4.4% | |
| Q3 2024 | +5.8% | +7.4% | +11.8% | |
| Q2 2024 | -3.0% | -4.5% | +0.2% | |
| Q1 2024 | -1.4% | -6.1% | -6.1% | |
| Q4 2023 | +1.3% | +6.1% | +9.4% | |
| Q3 2023 | -0.4% | +3.3% | +0.1% | |
| Q2 2023 | -0.5% | +0.1% | -1.7% | |
| Q1 2023 | +0.3% | -1.9% | -0.8% | |
| Q4 2022 | +1.8% | +2.6% | -6.7% | |
| Q3 2022 | +0.8% | -1.3% | -3.7% | |
| Q2 2022 | +0.9% | +3.6% | +10.1% | |
| Q1 2022 | +8.3% | +7.6% | +19.3% | |
| Q4 2021 | +2.0% | +2.1% | +1.7% | |
| Q3 2021 | +2.5% | +2.7% | -6.3% | |
| Q2 2021 | +1.7% | +1.1% | -0.2% | |
| Q1 2021 | -3.2% | -4.0% | -8.7% | |
| Q4 2020 | +3.0% | +9.6% | +10.3% | |
| Q3 2020 | +0.4% | -2.5% | +3.8% | |
| Q2 2020 | +7.7% | +3.2% | -0.2% | |
| Q4 2019 | +0.5% | +0.8% | -11.8% | |
| Q3 2019 | +0.8% | +1.7% | +1.6% | |
| Q2 2019 | +1.7% | +2.7% | +1.1% | |
| Q1 2019 | -0.9% | +2.7% | +5.5% | |
| Q4 2018 | +1.1% | +3.3% | +2.9% | |
| Q3 2018 | +1.0% | +0.8% | +6.1% | |
| Q2 2018 | +0.3% | +0.7% | -1.3% | |
| Q1 2018 | -0.0% | -0.4% | +4.2% | |
| Q4 2017 | -3.0% | +0.1% | +2.6% | |
| Q3 2017 | +1.8% | +0.4% | -1.1% | |
| Q2 2017 | -0.5% | -1.3% | +2.0% | |
| Q1 2017 | +1.7% | +0.8% | +1.3% | |
| Q4 2016 | -2.0% | -1.2% | +1.5% | |
| Q3 2016 | -0.2% | -0.3% | +3.2% | |
| Q2 2016 | +0.6% | +1.1% | +0.9% | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | +6.0% | — | — | |
| Q3 2015 | -3.8% | — | — | |
| Q2 2015 | +3.5% | — | — | |
| Q1 2015 | -0.1% | — | — | |
| Q4 2014 | -1.2% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | +0.3% | — | — | |
| Q4 2013 | -0.3% | — | — | |
| Q3 2013 | +0.4% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | -0.4% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | +0.1% | — | — | |
| Q2 2012 | -4.2% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2011 | -0.4% | — | — | |
| Q3 2011 | -3.6% | — | — | |
| Q2 2011 | +0.7% | — | — | |
| Q1 2010 | -2.0% | — | — | |
| Q1 2011 | +1.4% | — | — | |
| Q4 2008 | -0.8% | — | — | |
| Q4 2010 | -0.8% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q3 2009 | +1.4% | — | — | |
| Q2 2010 | -1.8% | — | — | |
| Q4 2009 | -1.8% | — | — | |
| Q2 2009 | -1.8% | — | — |
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