HAMILTON, Bermuda, Feb. 7, 2025 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) reported book value per share of $1,746 and adjusted book value per share of $1,834 as of December 31, 2024.  Book value per share and adjusted book value per share both decreased 3% in the fourth quarter of 2024 and increased 6% and 8%, respectively, in the year ended December 31, 2024, including dividends. 

Manning Rountree, CEO, commented, "ABVPS was down 3% in the quarter, driven primarily by mark-to-market declines in our investment portfolio, including our position in MediaAlpha.  On a full-year basis, ABVPS was up 8%, driven by solid results at our operating companies and positive returns in our investment portfolio.  In the quarter, Ark produced a 77% combined ratio and $264 million of gross written premiums, up 14% year-over-year.  HG Global generated $18 million of gross written premiums, driven by strong primary market volume at BAM.  Kudu had a tough quarter, impacted by rising interest rates and a strengthening dollar, but delivered solid results for the full year and saw the value of its portfolio of participation contracts cross the $1 billion threshold.  Bamboo had another strong quarter, with managed premiums and adjusted EBITDA up significantly year-over-year.  MediaAlpha's share price declined 38% in the quarter, producing a $122 million mark-to-market loss on our position.  Excluding MediaAlpha, investment returns were down slightly in the quarter but up 6.5% for the year, a solid result.  Undeployed capital stands at roughly $700 million, including the proceeds of our recent debt recap at Bamboo."