Segment Information (Tables)

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Schedule of Financial Information for White Mountains' Segments

The following tables present the financial information for White Mountains’s segments:

Millions	HG Global/ BAM		Ark		NSM		Kudu		Other Operations		Total
Three Months Ended September 30, 2021
Earned insurance premiums	$	6.7	$	213.4	$	—	$	—	$	—	$	220.1
Net investment income	4.4		.6		—		9.5		5.0		19.5
Net realized and unrealized    investment (losses) gains	(4.0)		.3		—		18.9		15.3		30.5
Net realized and unrealized investment    losses from investment in MediaAlpha	—		—		—		—		(396.8)		(396.8)
Commission revenues	—		—		67.0		—		2.4		69.4
Other revenue	.3		3.4		15.3		.1		28.1		47.2
Total revenues	7.4		217.7		82.3		28.5		(346.0)		(10.1)
Loss and loss adjustment expenses	—		129.2		—		—		—		129.2
Insurance acquisition expenses	3.0		53.7		—		—		—		56.7
Cost of sales	—		—		—		—		24.0		24.0
General and administrative expenses	12.4		21.8		48.8		3.3		14.5		100.8
Broker commission expense	—		—		20.4		—		—		20.4
Change in fair value of contingent     consideration liabilities	—		—		.6		—		—		.6
Amortization of other intangible assets	—		—		8.2		—		2.0		10.2
Interest expense	—		2.1		5.9		1.9		.4		10.3
Total expenses	15.4		206.8		83.9		5.2		40.9		352.2
Pre-tax (loss) income	$	(8.0)	$	10.9	$	(1.6)	$	23.3	$	(386.9)	$	(362.3)

Millions	HG Global/ BAM		NSM		Kudu		Other Operations		Total
Three Months Ended September 30, 2020
Earned insurance premiums	$	6.2	$	—	$	—	$	—	$	6.2
Net investment income	4.7		—		6.4		60.1		71.2
Net realized and unrealized investment gains	3.2		—		9.8		43.6		56.6
Net unrealized investment gains from investment in MediaAlpha	—		—		—		250.0		250.0
Commission revenues	—		58.2		—		2.1		60.3
Other revenue	.4		12.5		.1		2.2		15.2
Total revenues	14.5		70.7		16.3		358.0		459.5
Insurance acquisition expenses	1.6		—		—		—		1.6
Cost of sales	—		—		—		2.3		2.3
General and administrative expenses	14.0		42.9		2.2		44.3		103.4
Broker commission expense	—		17.1		—		—		17.1
Change in fair value of contingent      consideration liabilities	—		.7		—		—		.7
Amortization of other intangible assets	—		5.1		.1		.2		5.4
Interest expense	—		6.1		1.4		.3		7.8
Total expenses	15.6		71.9		3.7		47.1		138.3
Pre-tax (loss) income	$	(1.1)	$	(1.2)	$	12.6	$	310.9	$	321.2

Millions	HG Global/ BAM		Ark		NSM		Kudu		Other Operations		Total
Nine Months Ended September 30, 2021
Earned insurance premiums	$	19.6	$	435.8	$	—	$	—	$	—	$	455.4
Net investment income	13.2		1.8		—		26.1		16.1		57.2
Net realized and unrealized investment    (losses) gains	(15.6)		10.3		—		62.5		34.0		91.2
Net realized and unrealized investment    losses from investment in MediaAlpha	—		—		—		—		(325.5)		(325.5)
Commission revenues	—		—		194.6		—		7.0		201.6
Other revenue	.9		9.4		46.8		.2		57.6		114.9
Total revenues	18.1		457.3		241.4		88.8		(210.8)		594.8
Loss and loss adjustment expenses	—		247.8		—		—		—		247.8
Insurance acquisition expenses	6.5		124.4		—		—		—		130.9
Cost of sales	—		—		—		—		45.9		45.9
General and administrative expenses	42.7		84.4		142.1		9.0		79.7		357.9
Broker commission expense	—		—		60.9		—		—		60.9
Change in fair value of contingent     consideration liabilities	—		—		.8		—		—		.8
Amortization of other intangible assets	—		—		25.0		.2		2.9		28.1
Loss on assets held for sale	—		—		28.7		—		—		28.7
Interest expense	—		4.5		17.7		9.2		1.1		32.5
Total expenses	49.2		461.1		275.2		18.4		129.6		933.5
Pre-tax (loss) income	$	(31.1)	$	(3.8)	$	(33.8)	$	70.4	$	(340.4)	$	(338.7)

Millions	HG Global/ BAM		NSM		Kudu		Other Operations		Total
Nine Months Ended September 30, 2020
Earned insurance premiums	$	17.2	$	—	$	—	$	—	$	17.2
Net investment income	15.1		—		19.3		79.3		113.7
Net realized and unrealized investment gains    (losses)	23.7		—		1.5		(17.4)		7.8
Net unrealized investment gains from investment in MediaAlpha	—		—		—		295.0		295.0
Commission revenues	—		174.2		—		6.1		180.3
Other revenue	2.1		37.6		.2		6.0		45.9
Total revenues	58.1		211.8		21.0		369.0		659.9
Insurance acquisition expenses	5.4		—		—		—		5.4
Cost of sales	—		—		—		6.5		6.5
General and administrative expenses	41.4		131.0		7.5		87.1		267.0
Broker commission expense	—		56.4		—		—		56.4
Change in fair value of contingent      consideration liabilities	—		(1.6)		—		—		(1.6)
Amortization of other intangible assets	—		16.2		.3		.6		17.1
Interest expense	—		16.1		4.3		.8		21.2
Total expenses	46.8		218.1		12.1		95.0		372.0
Pre-tax income (loss)	$	11.3	$	(6.3)	$	8.9	$	274.0	$	287.9

Schedule of Reconciliation of Revenue from Segments to Consolidated

In compliance with ASC 606, Revenues from Contracts with Customers, the following tables present White Mountains’s total revenues by revenue source for the three and nine months ended September 30, 2021 and 2020:

Millions	HG Global/BAM		Ark		NSM		Kudu		Other Operations		Total
Three Months Ended September 30, 2021
Commission and other revenue
Specialty Transportation (1)	$	—	$	—	$	25.7	$	—	$	—	$	25.7
Real Estate	—		—		6.2		—		—		6.2
Social Services	—		—		10.2		—		—		10.2
Pet	—		—		19.9		—		—		19.9
United Kingdom	—		—		13.0		—		—		13.0
Other	—		—		7.3		—		2.4		9.7
Total commission and other revenue	—		—		82.3		—		2.4		84.7
Product and service revenues	—		—		—		—		28.2		28.2
Revenues from contracts with customers	—		—		82.3		—		30.6		112.9
Other (2)	7.4		217.7		—		28.5		(376.6)		(123.0)
Total revenues	$	7.4	$	217.7	$	82.3	$	28.5	$	(346.0)	$	(10.1)

(1)    Includes the results of J.C. Taylor from August 6, 2021, the date of the J.C. Taylor transaction.

(2)    Other consists of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers.

Millions	HG Global/BAM		NSM		Kudu		Other Operations		Total
Three Months Ended September 30, 2020
Commission and other revenue
Specialty Transportation	$	—	$	21.9	$	—	$	—	$	21.9
Real Estate	—		6.0		—		—		6.0
Social Services	—		8.6		—		—		8.6
Pet	—		14.7		—		—		14.7
United Kingdom	—		13.9		—		—		13.9
Other	—		5.6		—		2.1		7.7
Total commission and other revenue	—		70.7		—		2.1		72.8
Product revenues	—		—		—		2.0		2.0
Revenues from contracts with customers	—		70.7		—		4.1		74.8
Other (1)	14.5		—		16.3		353.9		384.7
Total revenues	$	14.5	$	70.7	$	16.3	$	358.0	$	459.5

(1) Other consists of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers.

Millions	HG Global/BAM		Ark		NSM		Kudu		Other Operations		Total
Nine Months Ended September 30, 2021
Commission and other revenue
Specialty Transportation (1)	$	—	$	—	$	73.0	$	—	$	—	$	73.0
Real Estate	—		—		25.2		—		—		25.2
Social Services	—		—		26.2		—		—		26.2
Pet	—		—		55.6		—		—		55.6
United Kingdom	—		—		39.9		—		—		39.9
Other	—		—		21.5		—		7.0		28.5
Total commission and other revenue	—		—		241.4		—		7.0		248.4
Product and service revenues	—		—		—		—		57.5		57.5
Revenues from contracts with customers	—		—		241.4		—		64.5		305.9
Other (2)	18.1		457.3		—		88.8		(275.3)		288.9
Total revenues	$	18.1	$	457.3	$	241.4	$	88.8	$	(210.8)	$	594.8

(1)    Includes the results of J.C. Taylor from August 6, 2021, the date of the J.C. Taylor transaction.

(2)    Other consists of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers.

Millions	HG Global/BAM		NSM		Kudu		Other Operations		Total
Nine Months Ended September 30, 2020
Commission and other revenue
Specialty Transportation	$	—	$	66.1	$	—	$	—	$	66.1
Real Estate	—		32.7		—		—		32.7
Social Services	—		22.2		—		—		22.2
Pet	—		39.8		—		—		39.8
United Kingdom (2)	—		36.3		—		—		36.3
Other	—		14.7		—		6.1		20.8
Total commission and other revenue	—		211.8		—		6.1		217.9
Product revenues	—		—		—		6.4		6.4
Revenues from contracts with customers	—		211.8		—		12.5		224.3
Other (1)	58.1		—		21.0		356.5		435.6
Total revenues	$	58.1	$	211.8	$	21.0	$	369.0	$	659.9

(1) Other consists of premiums, investment income, investment gains and losses and other revenues outside the scope of ASC 606, Revenues from Contracts with Customers.

(2) Includes the results of Kingsbridge from April 7, 2020, the date of the Kingsbridge transaction.