CluenexWhite Mountains Insurance Group WTM
White Mountains Insurance Group scores good on business quality (7.3 of 10). Here is why, in plain words, and what our sealed record shows.
Why it matters
- What White Mountains Insurance Group does
White Mountains Insurance Group operates as a holding company, making insurance and financial services investments to compound capital for its shareholders. It generates revenue through specialty insurance operations and diverse subsidiary holdings.
- What it does best
White Mountains excels at opportunistic capital allocation across specialty insurance ventures. It maintains a 21.2% ROE, outperforming peers like FAF at 13.6% and ORI at 18.7%, reflecting disciplined deployment without overleveraging its balance sheet.
- The main risk
Catastrophic loss exposure within its property and casualty underwriting operations threatens book value. Bamboo Insurance scaling via its public offering introduces execution and market absorption risks to its growth matrix.
Quality, check by check
Scored against its own industry, from company filings.
Operating margin stands at 18.1% with net margin reaching 36.9%. Profitability remains healthy, though operating margins sit below the sector median at the 40th percentile.
Its moat relies on niche insurance expertise and specialized holding company structuring, reflected by an ROE of 21.2% that places it in the top quartile of its sector at the 72nd percentile.
Revenue surged to $2.9 billion backed by a 22.6% growth rate, landing in the top decile of its sector at the 87th percentile. Momentum is accelerating compared to prior fiscal periods.
Debt-to-equity sits at 0.15 with interest coverage at 6.7x, keeping leverage manageable while net debt registers at $653 million. Capital structure remains on solid footing.
Insiders
Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.
No open market buys or unplanned sales by executives or directors.
Our sealed record on WTM
Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.
The first sealed verdicts appear here on Oct 11, 2026.
Questions
White Mountains Insurance Group scores good on the Cluenex quality check (7.3 of 10), measured against its own industry. Profitability is fair, moat fair, growth fast and financial health strong.
In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.
Nov 4, 2026.
See WTM today
- Today's verdict on WTM, and why
- Fair value with cautious, base and optimistic cases
- The exact price that would change the verdict
- Which stocks each signal names, the night it fires
Cite this page: Cluenex, “White Mountains Insurance Group (WTM)”, https://cluenex.com/stocks/wtm/, data as of Oct 10, 2026.