White Mountains Insurance Group
White Mountains Insurance Group, Ltd. is a financial services holding company headquartered in Hamilton, Bermuda, with a principal executive office in Hanover, New Hampshire. The company operates through several subsidiaries, providing a range of insurance services primarily in the United States. Its operations are divided into four main segments: HG Global/BAM, which offers insurance for municipal bonds and reinsurance protection; NSM, a general underwriting agency specializing in property and casualty insurance for sectors such as specialty transportation and real estate; MediaAlpha, a marketing technology platform that facilitates programmatic media buying and selling; and Kudu, which provides capital solutions for asset managers and registered investment advisors. Additionally, the Other Operations segment delivers insurance solutions for the travel industry and manages investment vehicles for insurance-linked securities. Established in 1980, White Mountains focuses on value-oriented acquisitions and the management of its diverse insurance and financial assets.
Past deals in Property Insurance
Bamboo
Acquisition in 2023
Bamboo is an insurance service company that aims to simplify and enhance the insurance experience for non-affiliated insurers. Established in 2018 and headquartered in Midvale, Utah, Bamboo operates as a managing general underwriter, retail agency, and captive insurer, providing flexible and transparent insurance solutions. The company focuses on customer advocacy and offers a range of products, including home, personal property, fire, casualty, and flood insurance. By leveraging technology and data, Bamboo addresses the evolving needs of its clients, striving to transform the insurance industry into a more customer-centric and transparent sector. Its proprietary underwriting models, combined with advanced third-party technologies, yield superior underwriting results.
Pie Insurance
Series D in 2022
Pie Insurance, established in 2017 and headquartered in Washington D.C., specializes in providing workers' compensation insurance services to small businesses via an online platform. The company offers A.M. Best A-rated insurance coverage, including protection against illness, injury, disability, and death. Pie Insurance employs data analytics and user-friendly online features to accurately assess risks, enabling them to offer competitive pricing and enhance transparency for their clients. The company, led by co-founder and CEO John Swigart, began selling policies directly to customers in 2018 and aims to expand its offerings and strategic initiatives to better serve small business owners.
Ark Syndicate Management
Acquisition in 2020
Ark Syndicate Management is a London-based provider of reinsurance and insurance underwriting services. The company specializes in underwriting a diversified portfolio that includes property, accident, health, energy, marine insurance, and political risks. By maintaining a balanced approach to its offerings, Ark Syndicate Management aims to effectively address various risks within the reinsurance and insurance sectors. Its comprehensive range of services positions the company as a key player in the industry, catering to a wide array of clients and their specific insurance needs.
NSM Insurance Group
Acquisition in 2018
NSM Insurance Group specializes in developing and underwriting industry-specific insurance programs tailored to niche markets. The company provides insurance intermediary services for commercial property and casualty insurance firms, focusing on sectors such as special transportation, social services, real estate, and pet insurance. NSM manages the entire placement process, which includes product development, marketing, underwriting, policy issuance, and claims management. By employing its NSM Program Development Model, the company aims to deliver a compelling mix of products and processes that facilitate sustainable growth while addressing the unique risk management needs of its clients.
American Fuji Fire and Marine Insurance Company
Acquisition in 2012
American Fuji Fire and Marine Insurance Company provides insurance services.
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