White Mountains Mergers and Acquisitions Summary

InsuranceCompany

White Mountains has acquired 22 companies, including 4 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 7 assets.

White Mountains’ largest acquisition to date was in 2004, when it acquired Safeco Life & Investments Business for $1.4B. It’s largest disclosed sale occurred in 2015, when it sold Sirius International Insurance Group to for $2.2B. White Mountains has acquired in 12 different US states, and 3 countries. The Company’s most targeted sectors include insurance (86%) and digital media (5%).

Join Mergr and gain access to White Mountains’ M&A summary, the M&A summaries of companies just like it, as well as recent M&A activity in the insurance sector.

M&A Summary

  • M&A Total Activity28
    • M&A Buy Activity21
    • M&A Sell Activity7
  • Total Sectors Invested 4
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 17
  • M&A Advisors 3

White Mountains

White Mountains Insurance Group Ltd.

A.S. Cooper Building 26 Reid Street,
Hamilton, HM 11
Bermuda,
www.whitemountains.com

White Mountains is a Bermuda-domiciled financial services holding company with business interests in property and casualty insurance and reinsurance. White Mountains was fouded in 1980 and is based in Hamilton, Bermuda.


M&A Summary

Buy vs Sell

Year ≤ '17 '18 '19 '20 '21 '22 T
Buy (0.8/yr) # 17 1 2 1 - - 21
vol $2.4B $388M $2.8B
Sell (0.6/yr) # 4 - 1 - 1 1 7
vol $2.2B $1.8B $4.0B
  28

Most Recent M&A

Company Date Value Type
NSM Insurance Group 2022-05-09 1.8B USD Divestiture
Conshohocken, Pennsylvania · www.nsminc.com
Noblr, Inc. 2021-06-10 - Add-on Acquisition
San Francisco, California · www.noblr.com
Ark Syndicate Management Ltd. 2020-10-01 - Add-on Acquisition
London, United Kingdom · www.arkunderwriting.com
Elementum Advisors LLC 2019-06-03 - Add-on Acquisition
Chicago, Illinois · www.elementumadvisors.com
QuoteLab LLC 2019-02-04 - Stake Purchase
Los Angeles, California · www.mediaalpha.com
Noblr, Inc. 2019-01-07 - Stake Purchase
San Francisco, California · www.noblr.com
NSM Insurance Group 2018-04-02 388M USD Divestiture
Conshohocken, Pennsylvania · www.nsminc.com
MG LLC 2016-06-09 - Divestiture
Fort Lee, New Jersey · www.tranzact.net
Sirius International Insurance Group, Ltd. 2015-07-27 2.2B USD Divestiture
Hamilton, Bermuda · www.siriusintlgrp.com
MG LLC 2014-10-13 280M USD Add-on Acquisition
Fort Lee, New Jersey · www.tranzact.net
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Folksamerica Holding Company, Inc.    - Sierra Insurance Company of Texas 2003-11-25 3
New York, New York Dallas, Texas
Folksamerica Holding Company, Inc.    - PCA Property and Casualty Co. 2000-03-31 2
New York, New York Longwood, Florida
Folksamerica Holding Company, Inc.    - USF Re Insurance Co. 1999-12-30 1
New York, New York Costa Mesa,, California

M&A by Sector

Sector Buy # Value Sell # Value
Insurance 18 (86%) 2.5B (90%) 4 (57%) 4.0B (100%)
Digital Media 1 (5%) - 1 (14%) -
Marketing 1 (5%) 280M (10%) 1 (14%) -
Financial Services 1 (5%) - - -
Internet Software and Services - - 1 (14%) -
Total 21 $2.8B 7 $4.0B

By Geo

State/Country Buy Value Sell Value
United States 16 2.0B 6 1.8B
  California 3 - 4 -
  Nebraska 2 5M - -
  Illinois 2 - - -
  Pennsylvania 1 388M 1 1.8B
  New Jersey 1 280M 1 -
  Washington 1 1.4B - -
  Tennessee 1 - - -
  Ohio 1 - - -
  New York 1 - - -
  Massachusetts 1 - - -
  Florida 1 - - -
Bermuda 4 790M 1 2.2B
United Kingdom 1 - - -
Domestic 4 (19%) 790M (28%) 1 (14%) 2.2B (55%)
Cross-border 17 (81%) 2.0B (72%) 6 (86%) 1.8B (45%)
Total 21 $2.8B 7 $4.0B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities LLC
1
Legal Deals
Cravath, Swaine & Moore LLP
5
Slaughter and May
1

Deal Values

buy # Total
> $1B 1 $1.4B
$100M to $1B 5 $1.4B
< $100M 2 $70M
TOTAL $2.8B
Largest Safeco Life & Investments Business
$1.4B (2004-03-15)
sell # Total
> $1B 2 $4.0B
TOTAL $4.0B
Largest Sirius International Insurance Group, Ltd.
$2.2B (2015-07-27)

M&A Connections

Deals
Acquired from
Investor(s)
10%
2 (10%)
Strategic(s)
57%
12 (57%)
Divested to
Investor(s)
43%
3 (43%)
Strategic(s)
43%
3 (43%)

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