White Mountains Insurance Group (WTM) Revenue & Revenue Breakdown

OverviewOwnership Financials Chart

White Mountains Insurance Group Revenue Highlights

Latest Revenue (Y)

$2.71B

Latest Revenue (Q)

$641.10M

Main Segment (Y)

Ark Insurance Holdings Limited

Main Geography (Y)

UNITED KINGDOM

White Mountains Insurance Group Revenue by Period

White Mountains Insurance Group Revenue by Year

Date	Revenue	Change
2025-12-31	$2.71B	14.99%
2024-12-31	$2.35B	8.66%
2023-12-31	$2.17B	87.12%
2022-12-31	$1.16B	88.46%
2021-12-31	$614.40M	-31.40%
2020-12-31	$895.60M	0.25%
2019-12-31	$893.40M	142.05%
2018-12-31	$369.10M	-1.26%
2017-12-31	$373.80M	137.03%
2016-12-31	$157.70M	-64.16%
2015-12-31	$440.00M	-68.82%
2014-12-31	$1.41B	3.64%
2013-12-31	$1.36B	-44.10%
2012-12-31	$2.44B	12.08%
2011-12-31	$2.17B	-15.33%
2010-12-31	$2.57B	-42.02%
2009-12-31	$4.43B	49.76%
2008-12-31	$2.96B	-37.56%
2007-12-31	$4.73B	-1.26%
2006-12-31	$4.79B	3.50%
2005-12-31	$4.63B	1.73%
2004-12-31	$4.55B	20.01%
2003-12-31	$3.79B	-9.84%
2002-12-31	$4.21B	30.12%
2001-12-31	$3.23B	280.02%
2000-12-31	$851.00M	55.29%
1999-12-31	$548.00M	40.40%
1998-12-31	$390.30M	33.03%
1997-12-31	$293.40M	-19.33%
1996-12-31	$363.70M	63.61%
1995-12-31	$222.30M	-2.71%
1994-12-31	$228.50M	-39.07%
1993-12-31	$375.00M	-

White Mountains Insurance Group generated $2.71B in revenue during NA 2025, up 14.99% compared to the previous quarter, and up 302.29% compared to the same period a year ago.

White Mountains Insurance Group Revenue by Quarter

Date	Revenue	Change
2026-09-30	$641.10M	-24.09%
2026-06-30	$844.60M	63.87%
2026-03-31	$515.40M	-10.54%
2025-12-31	$576.10M	-33.34%
2025-09-30	$864.20M	25.39%
2025-06-30	$689.20M	19.28%
2025-03-31	$577.80M	61.40%
2024-12-31	$358.00M	-62.46%
2024-09-30	$953.60M	141.17%
2024-06-30	$395.40M	-38.92%
2024-03-31	$647.30M	-12.15%
2023-12-31	$736.80M	41.80%
2023-09-30	$519.60M	37.28%
2023-06-30	$378.50M	-28.84%
2023-03-31	$531.90M	21.55%
2022-12-31	$437.60M	14.20%
2022-09-30	$383.20M	399.61%
2022-06-30	$76.70M	-70.55%
2022-03-31	$260.40M	-25.60%
2021-12-31	$350.00M	-478.79%
2021-09-30	$-92.40M	-126.99%
2021-06-30	$342.40M	92.14%
2021-03-31	$178.20M	-65.78%
2020-12-31	$520.80M	13.34%
2020-09-30	$459.50M	77.00%
2020-06-30	$259.60M	-391.03%
2020-03-31	$-89.20M	-150.88%
2019-12-31	$175.30M	12.73%
2019-09-30	$155.50M	20.54%
2019-06-30	$129.00M	-70.25%
2019-03-31	$433.60M	7126.67%
2018-12-31	$6.00M	-96.98%
2018-09-30	$198.70M	62.47%
2018-06-30	$122.30M	190.50%
2018-03-31	$42.10M	-63.07%
2017-12-31	$114.00M	30.29%
2017-09-30	$87.50M	2.46%
2017-06-30	$85.40M	-77.87%
2017-03-31	$385.90M	43.89%
2016-12-31	$268.20M	-26.52%
2016-09-30	$365.00M	1.90%
2016-06-30	$358.20M	-16.13%
2016-03-31	$427.10M	-37.05%
2015-12-31	$678.50M	102.72%
2015-09-30	$334.70M	-43.03%
2015-06-30	$587.50M	-10.55%
2015-03-31	$656.80M	-4.77%
2014-12-31	$689.70M	17.02%
2014-09-30	$589.40M	-9.71%
2014-06-30	$652.80M	12.88%
2014-03-31	$578.30M	-7.71%
2013-12-31	$626.60M	9.14%
2013-09-30	$574.10M	17.33%
2013-06-30	$489.30M	-22.01%
2013-03-31	$627.40M	10.77%
2012-12-31	$566.40M	-18.78%
2012-09-30	$697.40M	28.20%
2012-06-30	$544.00M	-13.73%
2012-03-31	$630.60M	6.23%
2011-12-31	$593.60M	18.41%
2011-09-30	$501.30M	-12.22%
2011-06-30	$571.10M	-27.01%
2011-03-31	$782.40M	0.68%
2010-12-31	$777.10M	-5.40%
2010-09-30	$821.50M	-11.51%
2010-06-30	$928.40M	-11.08%
2010-03-31	$1.04B	-1.50%
2009-12-31	$1.06B	-11.86%
2009-09-30	$1.20B	-1.33%
2009-06-30	$1.22B	26.11%
2009-03-31	$966.50M	168.03%
2008-12-31	$360.60M	-41.65%
2008-09-30	$618.00M	-40.53%
2008-06-30	$1.04B	10.80%
2008-03-31	$937.90M	-21.95%
2007-12-31	$1.20B	-

White Mountains Insurance Group generated $641.10M in revenue during Q3 2026, up -24.09% compared to the previous quarter, and up 93.02% compared to the same period a year ago.

White Mountains Insurance Group Revenue Breakdown

White Mountains Insurance Group Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 22	Dec 21	Dec 20	Dec 19	Dec 18
Kudu Investment Management, LLC	$118.50M	$21.20M	-	-	-
HG Global-BAM	$33.30M	$26.90M	$22.80M	$16.30M	$13.90M
Ark Insurance Holdings Limited	$1.04B	$637.30M	-	-	-
Other Entity	$76.30M	$523.70M	$-53.90M	-	-
Kudu	-	$134.00M	$45.70M	-	-
NSM Insurance Group	-	$330.40M	$285.10M	$233.10M	$101.60M
MediaAlpha	-	-	-	$48.80M	$297.10M
Other Operations	-	$-211.10M	$781.40M	-	-

White Mountains Insurance Group's latest annual revenue breakdown by segment (product or service), as of Dec 22: Ark Insurance Holdings Limited (82.06%), Kudu Investment Management, LLC (9.32%), Other Entity (6.00%), and HG Global-BAM (2.62%).

Quarterly Revenue by Product

Product/Service	Sep 26	Jun 26	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20	Mar 20	Dec 19	Sep 19	Jun 19	Mar 19
Product and Service, Other	$121.10M	$107.50M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Kudu	-	-	$19.30M	$43.80M	$22.10M	$-17.40M	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Corporate and Other	-	-	$30.20M	$167.90M	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Entity	-	-	-	-	$74.90M	$8.80M	$-88.50M	$81.10M	$-300.00K	$-346.00M	$158.30M	$-23.10M	$412.40M	$358.00M	$135.30M	$-124.30M	$103.10M	$70.10M	$36.90M	$313.60M
Kudu Investment Management, LLC	-	-	-	-	$31.50M	$55.90M	$-3.80M	$34.90M	$45.20M	$28.50M	$36.20M	$24.10M	$24.70M	$16.30M	$22.10M	$-17.40M	$9.30M	$7.50M	$4.40M	-
HG Global-BAM	-	-	-	-	$22.80M	$-24.70M	$-13.20M	$-31.30M	$4.90M	$7.40M	$17.40M	$-6.70M	$10.40M	$14.50M	$26.10M	$17.50M	$5.10M	$18.00M	$21.60M	$21.90M
Ark Insurance Holdings Limited	-	-	-	-	$308.40M	$343.20M	$182.20M	$175.70M	$211.20M	$217.70M	$130.50M	$109.10M	-	-	-	-	-	-	-	-
NSM Insurance Group	-	-	-	-	-	-	-	$88.50M	$89.00M	$82.30M	$84.30M	$74.80M	$73.30M	$70.70M	$76.10M	$65.00M	$57.80M	$59.90M	$66.10M	$49.30M
MediaAlpha	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$33.50M
Other Operations	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$135.30M	$-124.30M	-	-	-	-
Total	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$259.60M	$-59.20M	$155.50M	$129.00M	-	-

White Mountains Insurance Group's latest quarterly revenue breakdown by segment (product or service), as of Sep 26: Product and Service, Other (100.00%).

White Mountains Insurance Group Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 25	Dec 24	Dec 22	Dec 21	Dec 20
UNITED STATES	$493.50M	$193.20M	-	-	-
BERMUDA	$705.10M	$732.00M	-	-	-
Other country	$16.40M	$14.80M	-	-	-
UNITED KINGDOM	$1.05B	$956.80M	-	-	-
HG Global-BAM	-	-	$33.30M	$26.90M	$22.80M
Kudu	-	-	-	-	-

White Mountains Insurance Group's latest annual revenue breakdown by geography, as of Dec 25: UNITED KINGDOM (46.25%), BERMUDA (31.19%), UNITED STATES (21.83%), and Other country (0.73%).

Quarterly Revenue by Country

Country	Sep 26	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Dec 20	Sep 20	Jun 20
Other country	$4.10M	$3.80M	$3.60M	$4.00M	$4.30M	$4.20M	$3.90M	-	-	-	-	-	-	-	-	-	-	-	-	-
UNITED STATES	$176.60M	$164.30M	$96.20M	$151.80M	$152.00M	$117.00M	$72.70M	-	-	-	-	-	-	-	-	-	-	-	-	-
BERMUDA	$188.40M	$146.80M	$153.50M	$178.50M	$217.40M	$144.60M	$164.60M	-	-	-	-	-	-	-	-	-	-	-	-	-
UNITED KINGDOM	$329.00M	$237.60M	$231.20M	$265.60M	$335.20M	$229.00M	$215.50M	-	-	-	-	-	-	-	-	-	-	-	-	-
Kudu	-	-	-	-	-	-	-	$19.30M	$43.80M	-	-	-	-	-	-	-	-	-	-	-
HG Global-BAM	-	-	-	-	-	-	-	-	-	$22.80M	$-24.70M	$-13.20M	$-31.30M	$4.90M	$7.40M	$17.40M	$-6.70M	$10.40M	$14.50M	$26.10M

White Mountains Insurance Group's latest quarterly revenue breakdown by geography, as of Sep 26: UNITED KINGDOM (47.13%), BERMUDA (26.99%), UNITED STATES (25.30%), and Other country (0.59%).

White Mountains Insurance Group Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
PGR	Progressive	$79.91B	$23.18B
CB	Chubb	$59.58B	$16.20B
WRB	W. R. Berkley	$14.71B	$3.74B
THG	Hanover Insurance Group	$6.60B	$1.74B
SIGI	Selective Insurance Group	$5.31B	$1.33B
KMPR	Kemper	$4.79B	$1.09B
WTM	White Mountains Insurance Group	$2.71B	$641.10M
RLI	RLI	$1.88B	$476.96M
KNSL	Kinsale Capital Group	$1.87B	$454.80M
HMN	Horace Mann Educators	$1.70B	$443.50M
CNA	CNA Financial	$1.58B	$3.82B
DGICA	Donegal Group	$978.01M	$237.66M
GBLI	Global Indemnity Group	$450.10M	$112.94M
NODK	NI	-	$70.23M

WTM Revenue FAQ

What is White Mountains Insurance Group’s yearly revenue?

White Mountains Insurance Group's yearly revenue for 2025 was $2.71B, representing an increase of 14.99% compared to 2024. The company's yearly revenue for 2024 was $2.35B, representing an increase of 8.66% compared to 2023. WTM's yearly revenue for 2023 was $2.17B, representing an increase of 87.12% compared to 2022.

What is White Mountains Insurance Group’s quarterly revenue?

White Mountains Insurance Group's quarterly revenue for Q3 2026 was $641.1M, a -24.09% decrease from the previous quarter (Q2 2026), and a -25.82% decrease year-over-year (Q3 2025). The company's quarterly revenue for Q2 2026 was $844.6M, a 63.87% increase from the previous quarter (Q1 2026), and a 22.55% increase year-over-year (Q2 2025). WTM's quarterly revenue for Q1 2026 was $515.4M, a -10.54% decrease from the previous quarter (Q4 2025), and a -10.80% decrease year-over-year (Q1 2025).

What is White Mountains Insurance Group’s revenue growth rate?

White Mountains Insurance Group's revenue growth rate for the last 3 years (2023-2025) was 24.95%, and for the last 5 years (2021-2025) was 340.64%.

What are White Mountains Insurance Group’s revenue streams?

White Mountains Insurance Group's revenue streams in c 22 are Kudu Investment Management, LLC, HG Global-BAM, Ark Insurance Holdings Limited, and Other Entity. Kudu Investment Management, LLC generated $118.5M in revenue, accounting 9.32% of the company's total revenue, up 458.96% year-over-year. HG Global-BAM generated $33.3M in revenue, accounting 2.62% of the company's total revenue, up 23.79% year-over-year. Ark Insurance Holdings Limited generated $1.04B in revenue, accounting 82.06% of the company's total revenue, up 63.72% year-over-year. Other Entity generated $76.3M in revenue, accounting 6.00% of the company's total revenue, down -85.43% year-over-year.

What is White Mountains Insurance Group’s main source of revenue?

For the fiscal year ending Dec 22, the largest source of revenue of White Mountains Insurance Group was Ark Insurance Holdings Limited. This segment made a revenue of $1.04B, representing 82.06% of the company's total revenue.