Significant intercompany transactions among White Mountains’s segments have been eliminated herein. Financial information for White Mountains’s segments follows:



			HG Global/BAM
Millions	OneBeacon		HG			BAM⁽¹⁾			Other Operations				Total
Three Months Ended September 30, 2016
Earned insurance premiums	$	277.9	$	1.2		$	.3		$	1.9			$	281.3
Net investment income	11.8		.6			1.7			8.4				22.5
Net investment income (loss) - surplus note interest	—		4.5			(4.5		)	—				—
Net realized and unrealized investment gains (losses)	15.5		(.3		)	(1.6		)	12.8				26.4
Other revenue	1.8		—			.4			32.6			⁽²⁾	34.8
Total revenues	307.0		6.0			(3.7		)	55.7				365.0
Losses and LAE	162.8		—			—			2.2				165.0
Insurance acquisition expenses	55.1		.2			.6			.5				56.4
Other underwriting expenses	49.4		—			.1			.1				49.6
General and administrative expenses	3.2		.6			9.3			54.1			⁽³⁾	67.2
Amortization of other intangible assets	.3		—			—			2.7				3.0
Interest expense	3.3		—			—			.5				3.8
Total expenses	274.1		.8			10.0			60.1				345.0
Pre-tax income (loss)	$	32.9	$	5.2		$	(13.7	)	$	(4.4	)		$	20.0



			HG Global/BAM
Millions	OneBeacon		HG		BAM⁽¹⁾			Other Operations				Total
Nine Months Ended September 30, 2016
Earned insurance premiums	$	827.9	$	3.1	$	1.0		$	6.1			$	838.1
Net investment income	38.3		1.6		5.1			14.6				59.6
Net investment income (loss) - surplus note interest	—		13.4		(13.4		)	—				—
Net realized and unrealized investment gains	56.8		2.3		6.5			18.4				84.0
Other revenue	3.5		—		.8			106.5			⁽²⁾	110.8
Total revenues	926.5		20.4		—			145.6				1,092.5
Losses and LAE	501.3		—		—			6.8				508.1
Insurance acquisition expenses	154.8		.6		1.9			1.9				159.2
Other underwriting expenses	155.6		—		.3			.1				156.0
General and administrative expenses	10.0		1.4		28.1			181.5			⁽³⁾	221.0
Amortization of other intangible assets	.9		—		—			8.5				9.4
Interest expense	9.8		—		—			2.6				12.4
Total expenses	832.4		2.0		30.3			201.4				1,066.1
Pre-tax income (loss)	$	94.1	$	18.4	$	(30.3	)	$	(55.8	)		$	26.4



				HG Global/BAM
Millions	OneBeacon			HG		BAM⁽¹⁾			Other Operations				Total
Three Months Ended September 30, 2015
Earned insurance premiums	$	281.4		$	.6	$	.3		$	2.6			$	284.9
Net investment income	12.4			.5		1.1			2.8				16.8
Net investment income (loss) - surplus note interest	—			4.0		(4.0		)	—				—
Net realized and unrealized investment (losses) gains	(29.9		)	.6		1.7			(16.3		)		(43.9		)
Other revenue	3.9			—		.2			34.2			⁽²⁾	38.3
Total revenues	267.8			5.7		(.7		)	23.3				296.1
Losses and LAE	167.5			—		—			2.5				170.0
Insurance acquisition expenses	53.8			.1		.4			1.0				55.3
Other underwriting expenses	56.4			—		.1			—				56.5
General and administrative expenses	3.4			.4		9.4			81.5			⁽³⁾	94.7
Amortization of other intangible assets	.3			—		—			2.3				2.6
Interest expense	3.2			—		—			.7				3.9
Total expenses	284.6			.5		9.9			88.0				383.0
Pre-tax (loss) income	$	(16.8	)	$	5.2	$	(10.6	)	$	(64.7	)		$	(86.9	)



				HG Global/BAM
Millions	OneBeacon			HG		BAM⁽¹⁾			Other Operations				Total
Nine Months Ended September 30, 2015
Earned insurance premiums	$	887.3		$	1.7	$	.6		$	6.4			$	896.0
Net investment income	33.0			1.4		2.9			5.3				42.6
Net investment income (loss) - surplus note interest	—			11.9		(11.9		)	—				—
Net realized and unrealized investment (losses) gains	(29.7		)	.3		2.8			(7.3		)		(33.9		)
Other (loss) revenue	(.4		)	—		.5			114.3			⁽²⁾	114.4
Total revenues	890.2			15.3		(5.1		)	118.7				1,019.1
Losses and LAE	527.9			—		—			6.2				534.1
Insurance acquisition expenses	161.2			.3		1.8			2.8				166.1
Other underwriting expenses	165.2			—		.3			—				165.5
General and administrative expenses	11.0			1.2		26.3			185.2			⁽³⁾	223.7
Amortization of other intangible assets	1.0			—		—			6.9				7.9
Interest expense	9.7			—		—			1.1				10.8
Total expenses	876.0			1.5		28.4			202.2				1,108.1
Pre-tax income (loss)	$	14.2		$	13.8	$	(33.5	)	$	(83.5	)		$	(89.0	)

⁽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⁾Includes $27.6 and $88.4 from MediaAlpha for the three months and nine months ended September 30, 2016, and $28.3 and $81.2 from MediaAlpha for the three months and nine months ended September 30, 2015.

⁽³⁾Includes $26.2 and $82.7 from MediaAlpha for the three months and nine months ended September 30, 2016, and $26.2 and $75.8 from MediaAlpha for the three months and nine months ended September 30, 2015.