Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

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


Millions	HG Global/ BAM		Ark		Kudu		Other Operations		Total
Three Months Ended June 30, 2022
Earned insurance premiums	$	10.5	$	217.3	$	—	$	—	$	227.8
Net investment income	4.8		3.2		13.8		3.3		25.1
Net realized and unrealized investment gains (losses)	(30.1)		(44.6)		(17.6)		(11.8)		(104.1)
Net realized and unrealized investment gains (losses) from investment in MediaAlpha	—		—		—		(113.5)		(113.5)
Commission revenues	—		—		—		2.6		2.6

Other revenues	1.6		6.3		—		30.9		38.8
Total revenues	(13.2)		182.2		(3.8)		(88.5)		76.7

Loss and loss adjustment expenses	—		120.5		—		—		120.5
Insurance and reinsurance acquisition expenses	4.8		50.2		—		—		55.0

Cost of sales	—		—		—		22.4		22.4
General and administrative expenses	17.4		29.8		3.0		50.1		100.3


Amortization of other intangible assets	—		—		.1		.9		1.0

Interest expense	3.4		3.1		3.3		.3		10.1
Total expenses	25.6		203.6		6.4		73.7		309.3
Pre-tax income (loss) from continuing operations	$	(38.8)	$	(21.4)	$	(10.2)	$	(162.2)	$	(232.6)


Millions	HG Global/ BAM		Ark		Kudu		Other Operations		Total
Three Months Ended June 30, 2021
Earned insurance premiums	$	6.5	$	117.8	$	—	$	—	$	124.3
Net investment income	4.3		.4		8.4		4.0		17.1
Net realized and unrealized investment gains (losses)	6.3		8.9		27.8		16.6		59.6
Net realized and unrealized investment gains (losses) from investment in MediaAlpha	—		—		—		113.0		113.0
Commission revenues	—		—		—		2.3		2.3

Other revenues	.3		3.4		—		22.4		26.1
Total revenues	17.4		130.5		36.2		158.3		342.4
Losses and loss adjustment expenses	—		52.6		—		—		52.6
Insurance and reinsurance acquisition expenses	1.6		34.0		—		—		35.6

Cost of sales	—		—		—		17.9		17.9
General and administrative expenses	13.9		24.8		3.2		29.3		71.2


Amortization of other intangible assets	—		—		.1		.4		.5

Interest expense	—		1.3		1.5		.4		3.2
Total expenses	15.5		112.7		4.8		48.0		181.0
Pre-tax income (loss) from continuing operations	$	1.9	$	17.8	$	31.4	$	110.3	$	161.4


Millions	HG Global/ BAM		Ark		Kudu		Other Operations		Total
Six Months Ended June 30, 2022
Earned insurance premiums	$	18.9	$	411.7	$	—	$	—	$	430.6
Net investment income	9.4		4.8		26.4		5.1		45.7
Net realized and unrealized investment gains (losses)	(75.2)		(62.1)		4.7		20.1		(112.5)
Net realized and unrealized investment gains (losses) from investment in MediaAlpha	—		—		—		(94.7)		(94.7)
Commission revenues	—		—		—		5.5		5.5

Other revenues	2.4		3.5		—		56.6		62.5
Total revenues	(44.5)		357.9		31.1		(7.4)		337.1

Loss and loss adjustment expenses	—		242.5		—		—		242.5
Insurance and reinsurance acquisition expenses	7.8		100.1		—		—		107.9

Cost of sales	—		—		—		43.8		43.8
General and administrative expenses	33.7		52.9		5.7		79.0		171.3


Amortization of other intangible assets	—		—		.2		1.8		2.0

Interest expense	3.4		6.9		6.1		.6		17.0
Total expenses	44.9		402.4		12.0		125.2		584.5
Pre-tax income (loss) from continuing operations	$	(89.4)	$	(44.5)	$	19.1	$	(132.6)	$	(247.4)


Millions	HG Global/ BAM		Ark		Kudu		Other Operations		Total
Six Months Ended June 30, 2021
Earned insurance premiums	$	12.9	$	222.4	$	—	$	—	$	235.3
Net investment income	8.8		1.2		16.6		11.1		37.7
Net realized and unrealized investment gains (losses)	(11.6)		10.0		43.6		18.7		60.7
Net realized and unrealized investment gains (losses) from investment in MediaAlpha	—		—		—		71.3		71.3
Commission revenues	—		—		—		4.6		4.6

Other revenues	.6		6.0		.1		29.5		36.2
Total revenues	10.7		239.6		60.3		135.2		445.8
Losses and loss adjustment expenses	—		118.6		—		—		118.6
Insurance and reinsurance acquisition expenses	3.5		70.7		—		—		74.2

Cost of sales	—		—		—		21.9		21.9
General and administrative expenses	30.3		62.6		5.7		65		163.6


Amortization of other intangible assets	—		—		.2		.9		1.1

Interest expense	—		2.4		7.3		.7		10.4
Total expenses	33.8		254.3		13.2		88.5		389.8
Pre-tax income (loss) from continuing operations	$	(23.1)	$	(14.7)	$	47.1	$	46.7	$	56.0