CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investments
Other long-term investments	$ 1,428.5	$ 1,377.8
Total assets	7,356.7	7,000.7
Liabilities
Loss and loss adjustment expense reserves	999.6	894.7
Debt	690.9	693.0
Total liabilities	3,687.4	3,296.0
White Mountains’s common shareholders’ equity
White Mountains’s common shares at $1 par value per share—authorized 50,000,000 shares; issued and outstanding 2,994,162 and 3,017,772 shares	3.0	3.0
Paid-in surplus	583.3	585.9
Retained earnings	2,956.2	2,957.5
Accumulated other comprehensive income (loss), after-tax:
Net unrealized gains (losses) from foreign currency translation and interest rate swap	(0.4)	1.7
Total White Mountains’s common shareholders’ equity	3,542.1	3,548.1
Non-controlling interests	127.2	156.6
Total equity	3,669.3	3,704.7
Total liabilities and equity	7,356.7	7,000.7
Financial Guarantee (HG Global/BAM)
Investments
Fixed maturity investments, at fair value	873.8	934.1
Short-term investments, at fair value	36.5	32.4
Total investments	910.3	966.5
Cash	22.3	19.8
Insurance premiums receivable	6.9	6.9
Deferred acquisition costs	33.1	33.1
Other assets	18.4	18.5
Total assets	991.0	1,044.8
Liabilities
Unearned insurance premiums	267.3	266.3
Accrued incentive compensation	11.2	24.7
Other liabilities	28.3	30.9
Total liabilities	306.8	321.9
P&C Insurance and Reinsurance (Ark)
Investments
Fixed maturity investments, at fair value	692.4	688.6
Common equity securities, at fair value	290.1	251.1
Short-term investments, at fair value	198.0	296.2
Other long-term investments	334.5	326.2
Total investments	1,515.0	1,562.1
Cash	115.5	67.8
Reinsurance recoverables	412.7	448.4
Insurance premiums receivable	759.6	416.0
Ceded unearned premiums	86.8	67.1
Deferred acquisition costs	179.8	108.2
Goodwill and other intangible assets	292.5	292.5
Other assets	73.3	64.9
Total assets	3,435.2	3,027.0
Liabilities
Loss and loss adjustment expense reserves	999.6	894.7
Unearned insurance premiums	883.1	495.9
Debt	184.8	185.9
Reinsurance payable	348.9	424.1
Contingent consideration	30.1	28.0
Other liabilities	108.4	93.8
Total liabilities	2,554.9	2,122.4
Specialty Insurance Distribution (NSM)
Investments
Cash	113.5	111.5
Premiums and commissions receivable	97.6	85.0
Goodwill and other intangible assets	712.0	725.4
Other assets	53.0	55.4
Total assets	976.1	977.3
Liabilities
Debt	270.6	272.1
Premiums payable	146.0	135.9
Contingent consideration	0.0	6.8
Other liabilities	77.4	80.5
Total liabilities	494.0	495.3
Asset Management (Kudu)
Investments
Other long-term investments	691.8	669.5
Cash	25.4	21.4
Accrued investment income	11.8	16.9
Goodwill and other intangible assets	8.9	8.9
Other assets	9.6	10.4
Total assets	747.5	727.1
Liabilities
Debt	218.2	218.2
Other liabilities	42.3	42.8
Total liabilities	260.5	261.0
Other Operations
Investments
Fixed maturity investments, at fair value	249.3	286.2
Short-term investments, at fair value	87.0	137.3
Investment in MediaAlpha, at fair value	280.4	261.6
Other long-term investments	402.2	382.1
Total investments	1,018.9	1,067.2
Cash	50.4	38.8
Goodwill and other intangible assets	38.1	39.1
Other assets	83.6	63.3
Assets held for sale	15.9	16.1
Total assets	1,206.9	1,224.5
Liabilities
Debt	17.3	16.8
Accrued incentive compensation	25.3	48.5
Other liabilities	28.6	30.1
Total liabilities	$ 71.2	$ 95.4