White Mountains Insurance Group is a diversified insurance and related financial services holding company based in
Hamilton, Bermuda
The City of Hamilton, in Pembroke Parish, is the territorial capital of the British Overseas Territory of Bermuda. It is the territory's financial centre and a major port and tourist destination. Its population of 854 (2016) is one of the sm ...
. Redomiciled from Delaware, United States, on October 25, 1999, the company conducts most of its business through its insurance subsidiaries and other affiliates.
The company owned the automobile insurer
Esurance before selling it to
Allstate
The Allstate Corporation is an American insurance company, headquartered in Northfield Township, Illinois, near Northbrook since 1967. Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993 but still partially owned by S ...
for $1 billion.
Heritage
White Mountain Insurance Group began in the early 1980s by
John J. Byrne, the man recruited by American Express to turn around troubled property and casualty insurer Fireman's Fund.
When Byrne took Fireman's Fund public in 1985, it was the largest IPO in American history, and the insurer was sold to Allianz six years later. Upon completion of the Fireman's Fund sale in 1991, the remaining holding company and residual assets formed the starting point for the future White Mountains.
In December 2020, the company reported book value per share of $1,000.
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Leadership
White Mountain Insurance's current director is CEO George Manning Rountree.
References
External links
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Companies listed on the New York Stock Exchange
Insurance companies of Bermuda
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