v3.25.2
Segment Information - Financial Information for White Mountain's Segments (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Earned insurance premiums $ 375.2 $ 343.9 $ 770.2 $ 662.9
Net investment income 61.4 57.4 121.0 114.4
Net realized and unrealized investment gains (losses) 117.3 (60.2) 167.3 166.6
Interest income from BAM Surplus Notes 7.5 0.0 15.0 0.0
Commission and fee revenues 63.3 36.1 111.4 61.6
Other revenues 64.5 18.2 82.1 37.2
Total revenues 689.2 395.4 1,267.0 1,042.7
Loss and loss adjustment expenses 166.5 183.9 428.3 369.7
Acquisition expenses 99.5 75.9 196.6 147.5
Cost of sales 42.4 7.0 49.9 14.6
Broker commission expenses 19.8 12.7 35.3 22.0
General and administrative expenses 137.5 122.5 233.5 247.7
Change in fair value of contingent consideration 28.4 13.3 38.1 13.3
Interest expense 18.6 14.8 36.4 30.0
Total expenses 512.7 430.1 1,018.1 844.8
Pre-tax income (loss) 176.5 (34.7) 248.9 197.9
UNITED KINGDOM        
Segment Reporting Information [Line Items]        
Earned insurance premiums 229.0 193.7 444.5 371.1
Commission and fee revenues 0.0 0.0 0.0 0.0
BERMUDA        
Segment Reporting Information [Line Items]        
Earned insurance premiums 144.6 148.7 309.2 289.0
Commission and fee revenues 0.0 0.0 0.0 0.0
Other Operations        
Segment Reporting Information [Line Items]        
Earned insurance premiums 2.3 8.6 16.2 8.6
Net investment income 8.6 8.4 18.3 18.3
Interest income from BAM Surplus Notes 0.0 0.0 0.0 0.0
Commission and fee revenues 4.2 3.4 8.1 7.0
Other revenues 56.8 14.5 70.4 28.9
Total revenues 134.2 (95.8) 141.5 165.0
Loss and loss adjustment expenses 0.8 3.9 18.2 3.9
Acquisition expenses 0.9 2.6 6.0 2.6
Cost of sales 42.4 7.0 49.9 14.6
Broker commission expenses 0.0 0.0 0.0 0.0
General and administrative expenses 53.8 43.2 89.3 93.5
Change in fair value of contingent consideration 0.0 0.0 0.0 0.0
Interest expense 0.8 0.6 1.3 1.3
Total expenses 98.7 57.3 164.7 115.9
Pre-tax income (loss) 35.5 (153.1) (23.2) 49.1
Investments, Excluding MediaAlpha        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 86.8 79.0 173.4 95.1
Investments, Excluding MediaAlpha | Other Operations        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 31.8 8.5 34.6 30.7
MediaAlpha        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 30.5 (139.2) (6.1) 71.5
MediaAlpha | Other Operations        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 30.5 (139.2) (6.1) 71.5
P&C Insurance and Reinsurance (Ark/WM Outrigger)        
Segment Reporting Information [Line Items]        
Loss and loss adjustment expenses 164.0 175.7 397.5 355.7
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums 364.2 318.3 722.2 621.1
Net investment income 26.3 22.3 49.8 42.2
Net realized and unrealized investment gains (losses) 51.1 20.3 80.6 30.9
Other revenues 6.3 2.4 8.5 5.9
Loss and loss adjustment expenses 164.0 175.7 397.5 355.7
Acquisition expenses 97.2 68.2 180.7 134.5
General and administrative expenses 56.5 42.9 92.4 85.1
Change in fair value of contingent consideration 28.4 13.3 38.1 13.3
Interest expense 4.3 4.7 8.5 10.1
Total expenses 350.4 304.8 717.2 598.7
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Ark | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums 357.1 310.8 703.1 603.3
Net investment income 24.1 19.3 45.4 36.3
Interest income from BAM Surplus Notes 0.0 0.0 0.0 0.0
Commission and fee revenues 0.0 0.0 0.0 0.0
Other revenues 6.3 2.4 8.5 5.9
Total revenues 438.6 352.8 837.7 676.4
Loss and loss adjustment expenses 162.3 176.0 375.6 355.3
Acquisition expenses 95.8 65.9 179.6 129.6
Cost of sales 0.0 0.0 0.0 0.0
Broker commission expenses 0.0 0.0 0.0 0.0
General and administrative expenses 56.5 42.8 92.3 85.0
Change in fair value of contingent consideration 28.4 13.3 38.1 13.3
Interest expense 4.3 4.7 8.5 10.1
Total expenses 347.3 302.7 694.1 593.3
Pre-tax income (loss) 91.3 50.1 143.6 83.1
Other underwriting expenses 46.3 33.1 74.8 63.6
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Ark | Investments, Excluding MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 51.1 20.3 80.7 30.9
P&C Insurance and Reinsurance (Ark/WM Outrigger) | Ark | MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0 0.0
P&C Insurance and Reinsurance (Ark/WM Outrigger) | WM Outrigger Re | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums 7.1 7.5 19.1 17.8
Net investment income 2.2 3.0 4.4 5.9
Interest income from BAM Surplus Notes 0.0 0.0 0.0 0.0
Commission and fee revenues 0.0 0.0 0.0 0.0
Other revenues 0.0 0.0 0.0 0.0
Total revenues 9.3 10.5 23.4 23.7
Loss and loss adjustment expenses 1.7 (0.3) 21.9 0.4
Acquisition expenses 1.4 2.3 1.1 4.9
Cost of sales 0.0 0.0 0.0 0.0
Broker commission expenses 0.0 0.0 0.0 0.0
General and administrative expenses 0.0 0.1 0.1 0.1
Change in fair value of contingent consideration 0.0 0.0 0.0 0.0
Interest expense 0.0 0.0 0.0 0.0
Total expenses 3.1 2.1 23.1 5.4
Pre-tax income (loss) 6.2 8.4 0.3 18.3
P&C Insurance and Reinsurance (Ark/WM Outrigger) | WM Outrigger Re | Investments, Excluding MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 0.0 0.0 (0.1) 0.0
P&C Insurance and Reinsurance (Ark/WM Outrigger) | WM Outrigger Re | MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0 0.0
Financial Guarantee (HG Global) | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums 7.1 9.0 15.3 16.8
Net investment income 6.5 10.4 12.8 20.1
Net realized and unrealized investment gains (losses) 3.1 (4.3) 13.1 (14.4)
Interest income from BAM Surplus Notes 7.5 0.0 15.0 0.0
Other revenues 0.0 0.6 0.1 1.1
Acquisition expenses 2.0 2.2 3.9 4.4
Broker commission expenses       0.0
General and administrative expenses 1.0 17.2 1.6 34.5
Interest expense 4.5 4.1 9.1 7.6
Total expenses 7.5 23.5 14.6 46.5
Financial Guarantee (HG Global) | HG Global | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums 7.1 7.5 15.3 14.0
Net investment income 6.5 5.9 12.8 11.3
Interest income from BAM Surplus Notes 7.5 6.6 15.0 13.2
Commission and fee revenues 0.0 0.0 0.0 0.0
Other revenues 0.0 0.0 0.1 0.0
Total revenues 24.2 18.0 56.3 29.2
Loss and loss adjustment expenses 0.0 0.0 0.0 0.0
Acquisition expenses 2.0 2.2 3.9 4.0
Cost of sales 0.0 0.0 0.0 0.0
Broker commission expenses 0.0 0.0 0.0 0.0
General and administrative expenses 1.0 0.6 1.6 1.0
Change in fair value of contingent consideration 0.0 0.0 0.0 0.0
Interest expense 4.5 4.1 9.1 7.6
Total expenses 7.5 6.9 14.6 12.6
Pre-tax income (loss) 16.7 11.1 41.7 16.6
Financial Guarantee (HG Global) | HG Global | Investments, Excluding MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 3.1 (2.0) 13.1 (9.3)
Financial Guarantee (HG Global) | HG Global | MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0 0.0
Financial Guarantee (HG Global) | BAM | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums   1.5   2.8
Net investment income   4.5   8.8
Interest income from BAM Surplus Notes   (6.6)   (13.2)
Commission and fee revenues   0.0   0.0
Other revenues   0.6   1.1
Total revenues   (2.3)   (5.6)
Loss and loss adjustment expenses   0.0   0.0
Acquisition expenses   0.0   0.4
Cost of sales   0.0   0.0
Broker commission expenses   0.0    
General and administrative expenses   16.6   33.5
Change in fair value of contingent consideration   0.0   0.0
Interest expense   0.0   0.0
Total expenses   16.6   33.9
Pre-tax income (loss)   (18.9)   (39.5)
Financial Guarantee (HG Global) | BAM | Investments, Excluding MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses)   (2.3)   (5.1)
Financial Guarantee (HG Global) | BAM | MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses)   0.0   0.0
Asset Management (Kudu) | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums 0.0 0.0 0.0 0.0
Net investment income 19.3 15.7 38.7 32.9
Net realized and unrealized investment gains (losses) 0.8 54.5 44.8 48.0
Interest income from BAM Surplus Notes 0.0 0.0 0.0 0.0
Commission and fee revenues 0.0 0.0 0.0 0.0
Other revenues 0.3 0.0 0.7 0.0
Total revenues 20.4 70.2 84.2 80.9
Loss and loss adjustment expenses 0.0 0.0 0.0 0.0
Acquisition expenses 0.0 0.0 0.0 0.0
Cost of sales 0.0 0.0 0.0 0.0
Broker commission expenses 0.0 0.0 0.0 0.0
General and administrative expenses 3.6 3.5 7.6 6.9
Change in fair value of contingent consideration 0.0 0.0 0.0 0.0
Interest expense 6.1 5.4 12.5 11.0
Total expenses 9.7 8.9 20.1 17.9
Pre-tax income (loss) 10.7 61.3 64.1 63.0
Asset Management (Kudu) | Investments, Excluding MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 0.8 54.5 44.8 48.0
Asset Management (Kudu) | MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 0.0 0.0 0.0 0.0
Bamboo | Operating Segments        
Segment Reporting Information [Line Items]        
Earned insurance premiums 1.6 8.0 16.5 16.4
Net investment income 0.7 0.6 1.4 0.9
Interest income from BAM Surplus Notes 0.0 0.0 0.0 0.0
Commission and fee revenues 59.1 32.7 103.3 54.6
Other revenues 1.1      
Total revenues 62.5 42.0 123.9 73.1
Loss and loss adjustment expenses 1.7 4.3 12.6 10.1
Acquisition expenses (0.6) 2.9 6.0 6.0
Cost of sales 0.0 0.0 0.0 0.0
Broker commission expenses 19.8 12.7 35.3 22.0
General and administrative expenses 22.6 15.7 42.6 27.7
Change in fair value of contingent consideration 0.0 0.0 0.0 0.0
Interest expense 2.9 0.0 5.0 0.0
Total expenses 46.4 35.6 101.5 65.8
Pre-tax income (loss) 16.1 6.4 22.4 7.3
Amortization of other intangibles 4.0 4.3 8.0 8.5
Bamboo | Investments, Excluding MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) 0.0 0.0 0.3 (0.1)
Bamboo | MediaAlpha | Operating Segments        
Segment Reporting Information [Line Items]        
Net realized and unrealized investment gains (losses) $ 0.0 0.0 0.0 0.0
Bamboo Ide8 Services, LLC - Segment, Net Of Reconciling Items | Operating Segments        
Segment Reporting Information [Line Items]        
Other revenues   $ 0.7 $ 2.4 $ 1.3