WHITE MOUNTAINS INSURANCE GROUP LTD (WTM)

Key Insights

• White Mountains Insurance Group reported its Q4 2025 and full-year 2025 results, highlighting strong performance from its subsidiaries Kudu, Bamboo, and Distinguished.
• Kudu's adjusted EBITDA, annualized revenue, and cash revenue yield metrics showed positive trends, indicating the successful growth of its revenue participation business.
• Bamboo's MGA (managing general agency) operations saw increases in pre-tax income, net income, and EBITDA metrics, suggesting an improvement in the profitability of this segment.