White Mountains looks for opportunities as earnings double
White Mountains Insurance Group has a surfeit of undeployed capital and is "actively pursuing" high return opportunities, chairman and CEO Ray Barrette said in its Q2 earnings release today (27 July).
The firm has recently completed a $600mn investment in municipal bond start-up insurer Build America Mutual Assurance Company (BAM) and a share repurchase.
White Mountains reported a $26mn second-quarter profit, just over double the $12mn earned in the same period last year, as underwriting profits were offset by equity...
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