Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Financial information for White Mountains' segments

Financial information for White Mountains’s segments follows:



						HG Global/BAM
Millions	OneBeacon		Sirius Group			HG Global		BAM⁽¹⁾			Other Operations			Total
Year Ended December 31, 2014
Earned insurance and reinsurance premiums	$	1,177.1	$	873.9		$	1.4	$	.4		$	6.1		$	2,058.9
Net investment income	41.7		41.1			1.4		5.7			15.1			105.0
Net investment income (loss) - surplus note interest	—		—			15.7		(15.7		)	—			—
Net realized and unrealized investment gains	40.4		209.2			1.7		6.6			26.0			283.9
Other revenue (loss)	5.8		(62.4		)	—		.6			118.4			62.4
Total revenues	1,265.0		1,061.8			20.2		(2.4		)	165.6			2,510.2
Losses and LAE	815.1		345.3			—		—			8.9			1,169.3
Insurance and reinsurance acquisition expenses	203.3		193.6			.3		1.8			.8			399.8
Other underwriting expenses	179.2		129.7			—		.4			—			309.3
General and administrative expenses	13.8		30.5			1.6		35.9			206.4			288.2
Interest expense	13.0		26.3			—		—			2.6			41.9
Total expenses	1,224.4		725.4			1.9		38.1			218.7			2,208.5
Pre-tax income (loss)	$	40.6	$	336.4		$	18.3	$	(40.5	)	$	(53.1	)	$	301.7



					HG Global/BAM
Millions	OneBeacon		Sirius Group		HG Global			BAM⁽¹⁾			Other Operations		Total
Year Ended December 31, 2013
Earned insurance and reinsurance premiums	$	1,120.4	$	866.4	$	.4		$	.1		$	—	$	1,987.3
Net investment income	41.1		48.8		1.0			4.7			15.3		110.9
Net investment income (loss) - surplus note interest	—		—		40.2			(40.2		)	—		—
Net realized and unrealized investment gains (losses)	49.4		26.7		(2.0		)	(9.3		)	96.9		161.7
Other revenue	31.2		16.8		—			.4			9.1		57.5
Total revenues	1,242.1		958.7		39.6			(44.3		)	121.3		2,317.4
Losses and LAE	622.1		418.4		—			—			—		1,040.5
Insurance and reinsurance acquisition expenses	208.9		166.5		.1			1.4			—		376.9
Other underwriting expenses	204.8		126.1		—			.4			—		331.3
General and administrative expenses	12.0		32.2		1.4			32.5			103.2		181.3
Interest expense	13.0		26.3		—			—			3.2		42.5
Total expenses	1,060.8		769.5		1.5			34.3			106.4		1,972.5
Pre-tax income (loss)	$	181.3	$	189.2	$	38.1		$	(78.6	)	$	14.9	$	344.9



						HG Global/BAM
Millions	OneBeacon			Sirius Group		HG Global		BAM⁽¹⁾			Other Operations		Total
Year Ended December 31, 2012
Earned insurance and reinsurance premiums	$	1,132.0		$	931.6	$	—	$	—		$	—	$	2,063.6
Net investment income	53.6			65.0		.3		1.9			32.8		153.6
Net investment income (loss) - surplus note interest	—			—		18.4		(18.4		)	—		—
Net realized and unrealized investment gains	55.7			17.3		—		—			45.2		118.2
Other (loss) revenue	(.5		)	70.6		—		—			30.2		100.3
Total revenues	1,240.8			1,084.5		18.7		(16.5		)	108.2		2,435.7
Losses and LAE	650.0			543.9		—		—			—		1,193.9
Insurance and reinsurance acquisition expenses	249.4			180.8		—		—			—		430.2
Other underwriting expenses	205.2			116.4		—		.2			—		321.8
General and administrative expenses	13.4			45.9		4.5		19.6			98.8		182.2
Interest expense	16.9			26.2		—		—			1.7		44.8
Total expenses	1,134.9			913.2		4.5		19.8			100.5		2,172.9
Pre-tax income (loss)	$	105.9		$	171.3	$	14.2	$	(36.3	)	$	7.7	$	262.8



					HG Global/BAM
Selected Balance Sheet Data Millions	OneBeacon		Sirius Group		HG Global		BAM					Other Operations		Total
December 31, 2014:
Total investments	$	2,527.0	$	3,178.4	$	121.0	$	454.2				$	605.7	$	6,886.3
Reinsurance recoverable on paid and unpaid losses	173.8		333.6		—		—					.1		507.5
Assets held for sale	58.1		—		—		—					—		58.1
Total assets	3,561.0		5,034.7		704.4		(89.4		)	⁽²	⁾	1,246.2		10,456.9
Loss and LAE reserves	1,342.2		1,809.8		—		—					7.8		3,159.8
Total liabilities	2,510.5		3,180.6		120.9		32.5					72.8		5,917.3
Total White Mountains’s common shareholders’ equity	788.4		1,604.1		565.5		—					1,038.6		3,996.6
Non-controlling interest	262.1		250.0		17.9		(121.9		)			134.9		543.0
December 31, 2013:
Total investments	$	2,364.9	$	3,251.4	$	107.9	$	468.6				$	999.8	$	7,192.6
Reinsurance recoverable on paid and unpaid losses	89.9		363.6		—		—					—		453.5
Assets held for sale	1,880.1		—		—		—					—		1,880.1
Total assets	5,191.3		5,124.1		675.0		(77.9		)	⁽²	⁾	1,231.8		12,144.3
Loss and LAE reserves	1,054.3		2,025.0		—		—					—		3,079.3
Liabilities held for sale	1,880.1		—		—		—					—		1,880.1
Total liabilities	4,083.9		3,414.5		68.9		19.7					159.9		7,746.9
Total White Mountains’s common shareholders’ equity	830.6		1,459.6		589.5		—					1,025.8		3,905.5
Non-controlling interest	276.8		250.0		16.6		(97.6		)			46.1		491.9

Schedule of selected balance sheet data by segment



					HG Global/BAM
Selected Balance Sheet Data Millions	OneBeacon		Sirius Group		HG Global		BAM					Other Operations		Total
December 31, 2014:
Total investments	$	2,527.0	$	3,178.4	$	121.0	$	454.2				$	605.7	$	6,886.3
Reinsurance recoverable on paid and unpaid losses	173.8		333.6		—		—					.1		507.5
Assets held for sale	58.1		—		—		—					—		58.1
Total assets	3,561.0		5,034.7		704.4		(89.4		)	⁽²	⁾	1,246.2		10,456.9
Loss and LAE reserves	1,342.2		1,809.8		—		—					7.8		3,159.8
Total liabilities	2,510.5		3,180.6		120.9		32.5					72.8		5,917.3
Total White Mountains’s common shareholders’ equity	788.4		1,604.1		565.5		—					1,038.6		3,996.6
Non-controlling interest	262.1		250.0		17.9		(121.9		)			134.9		543.0
December 31, 2013:
Total investments	$	2,364.9	$	3,251.4	$	107.9	$	468.6				$	999.8	$	7,192.6
Reinsurance recoverable on paid and unpaid losses	89.9		363.6		—		—					—		453.5
Assets held for sale	1,880.1		—		—		—					—		1,880.1
Total assets	5,191.3		5,124.1		675.0		(77.9		)	⁽²	⁾	1,231.8		12,144.3
Loss and LAE reserves	1,054.3		2,025.0		—		—					—		3,079.3
Liabilities held for sale	1,880.1		—		—		—					—		1,880.1
Total liabilities	4,083.9		3,414.5		68.9		19.7					159.9		7,746.9
Total White Mountains’s common shareholders’ equity	830.6		1,459.6		589.5		—					1,025.8		3,905.5
Non-controlling interest	276.8		250.0		16.6		(97.6		)			46.1		491.9


⁽¹⁾	BAM manages its affairs on a statutory accounting basis. BAM’s statutory surplus includes surplus notes and is not reduced by accruals of interest expense on the surplus notes. BAM’s statutory surplus is reduced only after a payment of principal or interest has been approved by the New York Department of Financial Services.


⁽²⁾	BAM total assets reflect the elimination of $503.0 in surplus notes issued to HG Global and its subsidiaries, and $74.4 and $58.6 in accrued interest related to those surplus notes as of December 31, 2014 and 2013.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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