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



	HG Global/BAM
Millions	HG Global		BAM⁽¹⁾			MediaAlpha			Other Operations		Total
Three Months Ended June 30, 2017
Earned insurance premiums	$	1.7	$	.5		$	—		$	—	$	2.2
Net investment income	.8		2.2			—			11.7		14.7
Net investment income (loss) - BAM Surplus Note interest	4.7		(4.7		)	—			—		—
Net realized and unrealized investment gains	—		1.1			—			32.6		33.7
Advertising and commission revenues	—		—			30.8			2.4		33.2
Other revenue	—		.2			—			1.4		1.6
Total revenues	7.2		(.7		)	30.8			48.1		85.4
Insurance acquisition expenses	.3		.6			—			—		.9
Other underwriting expenses	—		.1			—			—		.1
Cost of sales	—		—			26.1			.7		26.8
General and administrative expenses	.2		10.1			6.2			41.0		57.5
Interest expense	—		—			.3			.2		.5
Total expenses	.5		10.8			32.6			41.9		85.8
Pre-tax income (loss)	$	6.7	$	(11.5	)	$	(1.8	)	$	6.2	$	(.4	)



	HG Global/BAM
Millions	HG Global		BAM⁽¹⁾			MediaAlpha			Other Operations		Total
Six Months Ended June 30, 2017
Earned insurance premiums	$	3.2	$	1.0		$	—		$	1.0	$	5.2
Net investment income	1.4		4.2			—			21.9		27.5
Net investment income (loss) - BAM Surplus Note interest	9.5		(9.5		)	—			—		—
Net realized and unrealized investment gains	.3		2.1			—			67.6		70.0
Advertising and commission revenues	—		—			63.3			8.4		71.7
Other revenue	—		.6			—			3.9		4.5
Total revenues	14.4		(1.6		)	63.3			102.8		178.9
Losses and LAE	—		—			—			1.1		1.1
Insurance acquisition expenses	.6		1.5			—			.1		2.2
Other underwriting expenses	—		.2			—			—		.2
Cost of sales	—		—			53.8			1.8		55.6
General and administrative expenses	.5		20.4			11.8			85.2		117.9
Interest expense	—		—			.5			.4		.9
Total expenses	1.1		22.1			66.1			88.6		177.9
Pre-tax income (loss)	$	13.3	$	(23.7	)	$	(2.8	)	$	14.2	$	1.0



	HG Global/BAM
Millions	HG Global		BAM⁽¹⁾			MediaAlpha			Other Operations			Total
Three Months Ended June 30, 2016
Earned insurance premiums	$	1.0	$	.4		$	—		$	1.9		$	3.3
Net investment income	.5		1.8			—			3.8			6.1
Net investment income (loss) - BAM Surplus Note interest	4.4		(4.4		)	—			—			—
Net realized and unrealized investment gains (losses)	.5		3.2			—			(.3		)	3.4
Advertising and commission revenues	—		—			28.1			1.1			29.2
Other revenue	—		.3			—			6.9			7.2
Total revenues	6.4		1.3			28.1			13.4			49.2
Losses and LAE	—		—			—			2.3			2.3
Insurance acquisition expenses	.2		.6			—			.6			1.4
Other underwriting expenses	—		.1			—			—			.1
Cost of sales	—		—			23.3			1.1			24.4
General and administrative expenses	.3		9.6			5.3			30.0			45.2
Interest expense	—		—			.2			.7			.9
Total expenses	.5		10.3			28.8			34.7			74.3
Pre-tax income (loss)	$	5.9	$	(9.0	)	$	(.7	)	$	(21.3	)	$	(25.1	)



	HG Global/BAM
Millions	HG Global		BAM⁽¹⁾			MediaAlpha			Other Operations			Total
Six Months Ended June 30, 2016
Earned insurance premiums	$	1.9	$	.7		$	—		$	4.2		$	6.8
Net investment income	1.0		3.4			—			4.2			8.6
Net investment income (loss) - BAM Surplus Note interest	8.9		(8.9		)	—			—			—
Net realized and unrealized investment gains	2.6		8.1			—			5.6			16.3
Advertising and commission revenues	—		—			60.8			2.2			63.0
Other revenue	—		.4			—			12.9			13.3
Total revenues	14.4		3.7			60.8			29.1			108.0
Losses and LAE	—		—			—			4.6			4.6
Insurance acquisition expenses	.4		1.3			—			1.4			3.1
Other underwriting expenses	—		.2			—			—			.2
Cost of sales	—		—			51.0			1.9			52.9
General and administrative expenses	.8		18.8			10.6			69.7			99.9
Interest expense	—		—			.5			1.6			2.1
Total expenses	1.2		20.3			62.1			79.2			162.8
Pre-tax income (loss)	$	13.2	$	(16.6	)	$	(1.3	)	$	(50.1	)	$	(54.8	)

⁽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.