XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Net investment income $ 19.6 $ 21.0 $ 42.5 $ 37.0
Net realized and unrealized investment gains     (3.8) 280.8
Total revenues 259.6 129.0 200.4 562.6
Expenses:        
Total expenses 126.9 113.2 233.7 265.1
Pre-Tax and Net Income [Abstract]        
Pre-tax income (loss) from continuing operations 132.7 15.8 (33.3) 297.5
Income tax (expense) benefit (24.1) 0.1 1.4 (10.1)
Net income (loss) from continuing operations 108.6 15.9 (31.9) 287.4
Net (loss) income from sale of discontinued operations, net of tax (1.0) 0.0 (0.1) 0.7
Net income (loss) 107.6 15.9 (32.0) 288.1
Net loss attributable to non-controlling interests 7.8 4.6 18.6 16.8
Net income (loss) attributable to White Mountains’s common shareholders 115.4 20.5 (13.4) 304.9
HG Global-BAM        
Revenues:        
Earned insurance premiums 5.6 4.3 11.0 8.5
Net investment income 4.9 5.4 10.4 10.7
Net realized and unrealized investment gains 14.4 11.5 20.5 23.3
Advertising and commission revenues 0.0 0.0 0.0  
Other revenue 1.2 0.4 1.7 1.0
Total revenues 26.1 21.6 43.6 43.5
Expenses:        
Deferred Policy Acquisition Costs, Amortization Expense 2.1 1.4 3.8 2.7
Other underwriting expenses 0.2 0.1 0.2 0.2
Cost of sales 0.0 0.0 0.0  
General and administrative expenses 12.5 12.3 27.2 26.6
Amortization of other intangible assets 0.0 0.0 0.0  
Interest expense 0.0   0.0  
Total expenses 14.8 13.8 31.2 29.5
Pre-Tax and Net Income [Abstract]        
Pre-tax income (loss) from continuing operations 11.3 7.8 12.4 14.0
NSM Holding Co LLC        
Revenues:        
Earned insurance premiums 0.0   0.0  
Net investment income 0.0   0.0  
Net realized and unrealized investment gains 0.0   0.0  
Advertising and commission revenues 63.0 54.9 116.0 98.2
Other revenue 13.1 11.2 25.1 17.2
Total revenues 76.1 66.1 141.1 115.4
Expenses:        
Deferred Policy Acquisition Costs, Amortization Expense 0.0      
Other underwriting expenses 0.0   0.0  
Cost of sales 0.0   0.0  
General and administrative expenses 48.5 32.8 88.1 58.1
Broker commission expenses 21.0 18.1 39.3 33.6
Change in fair value of contingent consideration earnout liabilities (1.7) 6.3 (2.3) 7.6
Amortization of other intangible assets 6.3 4.1 11.1 9.1
Interest expense 5.7 4.1 10.0 7.8
Total expenses 79.8 65.4 146.2 116.2
Pre-Tax and Net Income [Abstract]        
Pre-tax income (loss) from continuing operations (3.7) 0.7 (5.1) (0.8)
Kudu investments        
Revenues:        
Earned insurance premiums 0.0   0.0  
Net investment income 5.6 4.0 12.9 4.0
Net realized and unrealized investment gains 16.5 0.4 (8.3) 0.4
Advertising and commission revenues 0.0   0.0  
Other revenue 0.0 0.0 0.1 0.0
Total revenues 22.1 4.4 4.7 4.4
Expenses:        
Deferred Policy Acquisition Costs, Amortization Expense 0.0   0.0  
Other underwriting expenses 0.0   0.0  
Cost of sales 0.0   0.0  
General and administrative expenses 2.8 2.2 5.3 2.2
Amortization of other intangible assets 0.1 0.0 0.2 0.0
Interest expense 1.5 0.0 2.9 0.0
Total expenses 4.4 2.2 8.4 2.2
Pre-Tax and Net Income [Abstract]        
Pre-tax income (loss) from continuing operations 17.7   (3.7) 2.2
MediaAlpha        
Revenues:        
Advertising and commission revenues 0.0 0.0 0.0 48.8
Total revenues 0.0 0.0 0.0 48.8
Expenses:        
Cost of sales 0.0 0.0 0.0 40.6
General and administrative expenses 0.0 0.0 0.0 12.5
Amortization of other intangible assets 0.0 0.0 0.0 1.6
Interest expense 0.0 0.0 0.0 0.2
Total expenses 0.0 0.0 0.0 54.9
Pre-Tax and Net Income [Abstract]        
Pre-tax income (loss) from continuing operations       (6.1)
Other Segment        
Revenues:        
Earned insurance premiums 0.0 0.0 0.0  
Net investment income 9.1 11.6 19.2 22.3
Net realized and unrealized investment gains 122.0 23.3 (16.0) 142.4
Realized gain and unrealized investment gain from the MediaAlpha Transaction   0.0 0.0 182.2
Advertising and commission revenues 1.9 1.3 4.0 2.6
Other revenue 2.3 0.7 3.8 1.0
Total revenues 135.3 36.9 11.0 350.5
Expenses:        
Deferred Policy Acquisition Costs, Amortization Expense 0.0 0.0 0.0  
Other underwriting expenses 0.0   0.0  
Cost of sales 2.2 1.6 4.2 2.7
General and administrative expenses 25.3 30.1 42.8 59.5
Amortization of other intangible assets 0.2 0.1 0.4 0.1
Interest expense 0.2 0.0 0.5 0.0
Total expenses 27.9 31.8 47.9 62.3
Pre-Tax and Net Income [Abstract]        
Pre-tax income (loss) from continuing operations $ 107.4 $ 5.1 $ (36.9) $ 288.2