White Mountains posted Q2 net income attributable to common shareholders of USD 199.5 million, lifting book value per share 4% to USD 2,258.
Comprehensive income attributable to common shareholders rose to USD 199 million from USD 124 million, helped by USD 151 million of net investment gains.
Ark/WM Outrigger combined ratio held at 84%, with Ark recording USD 17 million of estimated net losses tied to the war in Iran.
Portfolio gains and capital deployment
MediaAlpha shares climbed 35% in the quarter, generating USD 58 million of unrealized gains; excluding MediaAlpha, the portfolio returned 2.8%.
White Mountains repurchased USD 191 million of shares, deployed USD 132 million into two WTM Partners acquisitions, leaving roughly USD 0.8 billion of undeployed capital.
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