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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
10 Months Ended 12 Months Ended
Dec. 31, 2019
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:        
Earned insurance premiums   $ 664.2 $ 22.8 $ 16.3
Net investment income   82.5 131.0 79.7
Net realized and unrealized investment gains (losses)   134.2 30.8 253.2
Realized gain (loss) from the 2019 MediaAlpha Transaction       67.5
Commission revenues   267.6 240.8 249.1
Other revenues   176.6 69.3 47.6
Total revenues   944.8 1,180.7 893.4
Expenses:        
Insurance acquisition expenses   186.3 7.0 5.7
Loss and loss adjustment expenses   314.8    
Cost of sales   69.3 11.3 48.1
General and administrative expenses   482.9 387.4 328.2
Broker commission expense   80.2 75.3 64.8
Change in fair value of contingent consideration   1.0 (3.3) 2.1
Amortization of other intangible assets   39.8 28.3 21.8
Loss on assets held for sale   28.7    
Interest expense   43.8 29.5 17.6
Total expenses   1,246.8 535.5 488.3
Pre-tax income (loss) from continuing operations   (302.0) 645.2 405.1
Income tax (expense) benefit   (38.6) 20.5 (29.3)
Net income (loss) from continuing operations   (340.6) 665.7 375.8
Net gain (loss) from sale of discontinued operations, net of tax   18.7 (2.3) 0.8
Net income (loss)   (321.9) 663.4 376.6
Net income (loss) attributable to non-controlling interests   46.5 45.3 37.9
Net income (loss) attributable to White Mountains’s common shareholders   (275.4) 708.7 414.5
MediaAlpha        
Revenues:        
Net realized and unrealized investment gains (losses) from investment in MediaAlpha   (380.3) 686.0 180.0
Total revenues $ 359.2      
Expenses:        
Total expenses 336.3      
Net income (loss) $ 22.9      
HG Global-BAM        
Revenues:        
Earned insurance premiums   26.9 22.8 16.3
Net investment income   17.5 19.5 21.6
Net realized and unrealized investment gains (losses)   (22.9) 23.7 27.1
Realized gain (loss) from the 2019 MediaAlpha Transaction       0.0
Commission revenues   0.0 0.0 0.0
Other revenues   1.5 2.5 1.6
Total revenues   23.0 68.5 66.6
Expenses:        
Insurance acquisition expenses   8.3 7.0 5.7
Loss and loss adjustment expenses   0.0    
Cost of sales   0.0 0.0 0.0
General and administrative expenses   57.1 56.8 50.9
Broker commission expense   0.0 0.0 0.0
Change in fair value of contingent consideration   0.0 0.0 0.0
Amortization of other intangible assets   0.0 0.0 0.0
Loss on assets held for sale   0.0    
Interest expense   0.0 0.0 0.0
Total expenses   65.4 63.8 56.6
Pre-tax income (loss) from continuing operations   (42.4) 4.7 10.0
HG Global-BAM | MediaAlpha        
Revenues:        
Net realized and unrealized investment gains (losses) from investment in MediaAlpha   0.0 0.0 0.0
Ark        
Revenues:        
Earned insurance premiums   637.3 0.0 0.0
Net investment income   2.9 0.0 0.0
Net realized and unrealized investment gains (losses)   16.5 0.0 0.0
Commission revenues   0.0    
Other revenues   11.8 0.0 0.0
Total revenues   668.5 0.0 0.0
Expenses:        
Insurance acquisition expenses   178.0 0.0 0.0
Loss and loss adjustment expenses   314.8 0.0 0.0
Cost of sales   0.0    
General and administrative expenses   115.5 0.0 0.0
Broker commission expense   0.0    
Change in fair value of contingent consideration   0.0    
Amortization of other intangible assets   0.0    
Loss on assets held for sale   0.0    
Interest expense   7.3 0.0 0.0
Total expenses   615.6 0.0 0.0
Pre-tax income (loss) from continuing operations   52.9    
Ark | MediaAlpha        
Revenues:        
Net realized and unrealized investment gains (losses) from investment in MediaAlpha   0.0    
NSM        
Revenues:        
Earned insurance premiums   0.0 0.0 0.0
Net investment income   0.0 0.0 0.0
Net realized and unrealized investment gains (losses)   0.0 0.0 0.0
Realized gain (loss) from the 2019 MediaAlpha Transaction       0.0
Commission revenues   258.0 232.5 193.4
Other revenues   72.4 52.6 39.7
Total revenues   330.4 285.1 233.1
Expenses:        
Insurance acquisition expenses   0.0 0.0 0.0
Loss and loss adjustment expenses   0.0    
Cost of sales   0.0 0.0 0.0
General and administrative expenses   190.1 176.9 132.2
Broker commission expense   80.2 75.3 64.8
Change in fair value of contingent consideration   1.0 (3.3) 2.1
Amortization of other intangible assets   35.2 26.7 19.4
Loss on assets held for sale   28.7 0.0 0.0
Interest expense   23.3 22.1 16.7
Total expenses   358.5 297.7 235.2
Pre-tax income (loss) from continuing operations   (28.1) (12.6) (2.1)
NSM | MediaAlpha        
Revenues:        
Net realized and unrealized investment gains (losses) from investment in MediaAlpha   0.0 0.0 0.0
Kudu        
Revenues:        
Earned insurance premiums   0.0 0.0 0.0
Net investment income   43.9 29.5 14.7
Net realized and unrealized investment gains (losses)   89.9 15.9 6.3
Realized gain (loss) from the 2019 MediaAlpha Transaction       0.0
Commission revenues   0.0 0.0 0.0
Other revenues   0.2 0.3 0.2
Total revenues   134.0 45.7 21.2
Expenses:        
Insurance acquisition expenses   0.0 0.0 0.0
Loss and loss adjustment expenses   0.0    
Cost of sales   0.0 0.0 0.0
General and administrative expenses   14.5 11.8 10.1
Broker commission expense   0.0 0.0 0.0
Change in fair value of contingent consideration   0.0 0.0 0.0
Amortization of other intangible assets   0.3 0.3 0.2
Loss on assets held for sale   0.0    
Interest expense   11.7 6.0 0.1
Total expenses   26.5 18.1 10.4
Pre-tax income (loss) from continuing operations   107.5 27.6 10.8
Kudu | MediaAlpha        
Revenues:        
Net realized and unrealized investment gains (losses) from investment in MediaAlpha   0.0 0.0 0.0
MediaAlpha        
Revenues:        
Earned insurance premiums       0.0
Net investment income       0.0
Net realized and unrealized investment gains (losses)       0.0
Realized gain (loss) from the 2019 MediaAlpha Transaction       0.0
Commission revenues   0.0 0.0 48.8
Other revenues       0.0
Total revenues   0.0 0.0 48.8
Expenses:        
Insurance acquisition expenses       0.0
Cost of sales   0.0 0.0 40.6
General and administrative expenses   0.0 12.5
Broker commission expense       0.0
Change in fair value of contingent consideration       0.0
Amortization of other intangible assets   0.0 0.0 1.6
Interest expense   0.0 0.0 0.2
Total expenses   0.0 0.0 54.9
Pre-tax income (loss) from continuing operations       (6.1)
MediaAlpha | MediaAlpha        
Revenues:        
Net realized and unrealized investment gains (losses) from investment in MediaAlpha       0.0
Other Operations        
Revenues:        
Earned insurance premiums   0.0 0.0 0.0
Net investment income   18.2 82.0 43.4
Net realized and unrealized investment gains (losses)   50.7 (8.8) 219.8
Net realized and unrealized investment gains (losses) from investment in MediaAlpha   (380.3) 686.0 180.0
Realized gain (loss) from the 2019 MediaAlpha Transaction   0.0 0.0 67.5
Commission revenues   9.6 8.3 6.9
Other revenues   90.7 13.9 6.1
Total revenues   (211.1) 781.4 523.7
Expenses:        
Insurance acquisition expenses   0.0 0.0 0.0
Loss and loss adjustment expenses   0.0    
Cost of sales   69.3 11.3 7.5
General and administrative expenses   105.7 141.9 122.5
Broker commission expense   0.0 0.0 0.0
Change in fair value of contingent consideration   0.0 0.0 0.0
Amortization of other intangible assets   4.3 1.3 0.6
Loss on assets held for sale   0.0    
Interest expense   1.5 1.4 0.6
Total expenses   180.8 155.9 131.2
Pre-tax income (loss) from continuing operations   $ (391.9) $ 625.5 $ 392.5