Insurance holding company reported Q2 revenue rose yr/yr to $844.6 mln
Book value per share grew 4% in Q2, driven by operating and investment gains
Company repurchased $191 mln of shares in Q2
Key details
Metric
Actual
Q2 Revenue
$844.60 mln
Result drivers
Investment gains - Co said solid investment returns and mark-to-market gains, particularly from MediaAlpha, contributed to Q2 results
Property market softening - Ark's gross written premiums declined due to softening market conditions in property lines, partially offset by growth in specialty lines
Municipal bond spreads - HG Global's gross written premiums fell, attributed to continued tightening of municipal bond spreads and weaker primary market pricing
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for White Mountains Insurance Group, Ltd. is $342.95, about 83.8% below its August 5 closing price of $2,111.91
WTM•
