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White Mountains Insurance Analyst Day 2009 - Part I

Sat, 30 May 2009 17:38:25 GMT

Here are my notes from the White Mountains Insurance Analyst Day held on May 20, 2009. These are for the introductory section, the financial highlights and a review of bad news in 2008. When I... (Please click on the title above to read the rest of the post.) [More...]

Montpelier Re a Buy Pre-Earnings - Analyst Blog

Tue, 21 Oct 2008 18:15:00 GMT

Incorporated in 2001, Montpelier Re (MRH) was formed by White Mountains Insurance Group, Ltd. and Benfield Holdings, Ltd. to take advantage of the enhanced insurance demand following the September 11 attacks. The company went public in October 2002. Montpelier Re intends to release its 3Q08 results after market close on October 23, 2008, with a conference call scheduled for the next day. 3Q08 results will include approximately $130 million impact from hurricanes Gustav and Ike. While we remain concerned about the general softening in the reinsurance industry and increased competition, the company has begun to experience the benefits from its new initiatives -- premium declines from Bermuda have been replaced by premiums generated by the new Lloyds ([More...]

A Review of Esurance

Mon, 25 Aug 2008 15:10:00 GMT

White Mountains Insurance (WTM) held its annual analyst meeting on June 17, and I finally got around to listening to the webcast. The URL is here if you want to listen yourself. I have written four... (Please click on the title above to read the rest of the post.) [More...]

A Review on White Mountains Insurance Analyst Day

Fri, 22 Aug 2008 18:07:00 GMT

White Mountains Insurance (WTM) held its annual analyst meeting on June 17, and I finally got around to listening to the webcast. The URL is here if you want to listen yourself.[More...]

What Could a Stronger Dollar Do?

Fri, 15 Aug 2008 05:25:00 GMT

I read an interesting call today from Toro about shorting the Euro off the top he believes the [More...]

White Mountains Insurance Analyst Day - Introductory Comments

Wed, 06 Aug 2008 17:05:00 GMT

White Mountains Insurance (WTM) held its annual analyst meeting on July 17, and I finally got around to listening to the webcast. The URL is here if you want to listen yourself.[More...]

White Mountains Insurance Analyst Day - The Reserve Issue

Mon, 04 Aug 2008 14:55:00 GMT

White Mountains Insurance (WTM) held its annual analyst meeting on July 17, and I finally got around to listening to the webcast. The URL is here if you want to listen yourself. I have twenty-eight... (Please click on the title above to read the rest of the post.) [More...]

White Mountains Earnings Review

Tue, 06 May 2008 05:17:58 GMT

White Mountains Insurance (WTM) reported first quarter 2008 earnings and there were a couple of noteworthy items:[More...]

What Did Buffett Know about the Gen Re Finite Reinsurance Deal with AIG?

Wed, 02 Jan 2008 14:14:04 GMT

Start with my disclaimer: I don’t know for sure. Buffett says that he didn’t know about the details, and certainly didn’t approve of the deal. From the Dow Jones Newswires:Buffett said in a 2005 statement that he “was not briefed on how the transactions were to be structured or on any improper use or purpose of the transactions.” Buffett’s attorney, Ronald Olson, said in a recent statement that Buffett “denies that he passed judgment in any way on the challenged AIG/Gen Re transaction in November 2000 or at any other time.”Personally, I find this amazing for a few reasons. 1) In any dealings with AIG, a smart insurance executive would want to know what was going on. AIG has had a history of getting the better end of the deal in working with reinsurers. Buffett i[More...]

Silver Costs 10% More in China

Thu, 06 Sep 2007 21:56:58 GMT

Attention silver investors. Silver is bought and sold some 10% above the global spot price in China, a Reuters dispatch informs, quoting Ellison Chu, senior manager at Standard...[More...]

Anthony Taylor to Serve As Non-Executive Chairman of Montpelier Re Holdings Ltd.

Tue, 06 Oct 2009 21:46:00 GMT

Montpelier Re Holdings Ltd. (NYSE:MRH) announced today that Anthony Taylor will continue to serve as Chairman of the Board of Directors of the Company in a Non-Executive capacity effective January 1 following expiration of his current service agreement.
In February 2004, he became Chairman of the Company succeeding Jack Byrne, the former Chairman and CEO of White Mountains Insurance Group, Ltd., one of Montpelier's founding investors.
In his eight years with the Company, Mr. Taylor led Montpelier through its initial public offering in October 2002.

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Symetra Financial Corp. Files Registration Statement for Initial Public Offering

Mon, 05 Oct 2009 21:47:00 GMT

Symetra Financial Corporation (Symetra) announced today it has filed a registration statement on Form S-1 with the Securities and Exchange Commission for a proposed initial public offering of common stock.
An investment group led by White Mountains Insurance Group, Ltd. and Berkshire Hathaway Inc. owns Symetra.
Symetra will apply to list its shares on the New York Stock Exchange under the symbol "SYA."

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Esurance Licenses CMS G2(TM) From Kaplan Compliance Solutions

Tue, 18 Aug 2009 11:10:00 GMT

INDIANAPOLIS, IN -- -- 08/18/09 -- Kaplan Compliance Solutions , a leading provider of service and technology solutions designed to eliminate paperwork and reduce compliance risk for the insurance and securities industries, announced that Esurance, the direct to consumer personal auto insurance company, is the latest customer to migrate to the Compliance Management System Generation 2 ) platform, KCS' flagship compliance automation solution.[More...]

A.M. Best Revises Outlook to Negative from Stable for Sirius International Insurance Corporation; Affirms Ratings

Fri, 31 Jul 2009 13:14:00 GMT

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Sirius International Insurance Corporation (Sirius) (Sweden).[More...]

A.M. Best Affirms Ratings of White Mountains Insurance Group, Ltd and Its Subsidiaries

Fri, 31 Jul 2009 13:13:00 GMT

A.M. Best Co. has affirmed the issuer credit rating (ICR) of “bbb” of White Mountains Insurance Group, Ltd (White Mountains) (Hamilton, Bermuda) [NYSE: WTM] and the ratings of its subsidiaries. (See link below for a detailed listing of the companies and ratings.)[More...]

White Mountains Reports Adjusted Book Value Per Share of $378

Fri, 31 Jul 2009 11:56:00 GMT

White Mountains Insurance Group, Ltd. reported an adjusted book value per share of $378 at June 30, 2009, an increase of 8% for the quarter.[More...]

White Mountains Reorganizes Bermuda Reinsurance Unit

Fri, 31 Jul 2009 11:56:00 GMT

White Mountains Insurance Group, Ltd. announced today that it is reorganizing its reinsurance business by converting its Bermuda reinsurance operations into a branch of White Mountains Re Sirius. Warren Trace, currently President and CEO of White Mountains Re Bermuda, will remain in charge of the Bermuda branch operations, reporting to Goran Thorstensson, President and CEO of Sirius. The reorganization is expected to be effective on September 1, 2009 following receipt of required regulatory approvals.[More...]

Video: Esurance Launches Bollywood Casting Call

Thu, 16 Jul 2009 09:56:00 GMT

Esurance, the direct-to-consumer personal auto insurance company, announced the recent launch of its Bollywood Casting Call, in partnership with IFC and Saavn, the world's largest digital distributor of Bollywood entertainment.To view the Multimedia News Release, go to: http://www.prnewswire.com/mnr/esurance/34370/Visitors to http://www.esurance.com/Bollywood will have the chance to enter the Esurance Bollywood Casting Call Contest. Participants will submit videos of re-enactments of their favorite Bollywood movie scenes. The winning entrant will star in an Esurance Bollywood music video that will premiere in September during "Wake Up To Bollywood," a special presentation of Bollywood films airing each Sunday morning at 10 AM ET/PT, exclusively on IFC. Get Singing. Get Dancing. Get Animated. Esurance Bollywood Casting Call!*Fans of Bollywood and newcomers alike can enter the Esurance Bollywood Casting Call at http://www.esurance.com/Bollywood. Show off your moves by re-enacting your favorite Bollywood movie scene and submit your video. The person who enters the winning submission will be animated into an Esurance Bollywood-style music video featuring the company's animated icon Erin Esurance. Bollywood fans can submit their videos for the Esurance Bollywood Casting Call until noon Pacific Time on July 31, 2009.Stay tuned for the premiere of the Esurance Bollywood music video in September on IFC. To enter today, and for full contest rules, visit http://www.esurance.com/Bollywood About EsuranceEsurance, a subsidiary of White Mountains Insurance Group, Ltd. , provides personal auto insurance direct to consumers online and through select online agents. Esurance is dedicated to constantly improving the way people shop for, buy, and manage their auto insurance. By combining the best of technology with industry know-how, Esurance is able to offer hassle-free coverage with 24/7 customer service and claims handling at competitive prices. Esurance has differentiated itself with its animated advertising campaign featuring the iconic cartoon secret agent, Erin Esurance. The advertisements have garnered attention for their unique use of Flash animation, and, in 2008, live action elements featuring real customers. Visitors to Esurance's award-winning Web site can view all the auto insurance company's unique user-generated content promotions at http://www.esurance.com.About IFC Operating under the mantra "always, uncut," IFC recommends and creates genre-bending content that indulges the alternative culture obsessions of our influential audience and makes it available across multiple platforms: on-air, online and On Demand. In pursuit of what's new, next and relevant, IFC creates original non-traditional comedies like The Whitest Kids U' Know and Z Rock and irreverent non-fiction such as The IFC Media Project. IFC's original programming airs alongside a comprehensive independent film library of award-winning titles and cult classics, as well as content inspired by music, web, gaming, animation, news, culture and more. IFC broadens the audience for independent culture through its exclusive live coverage of notable film and music events like the Independent Spirit Awards and South by Southwest. The network's On Demand offering, IFC Free, gives audiences the opportunity to watch premieres of all of IFC's original series before they air on the linear network. IFC Media Lab Studios offers financing, professional development and distribution opportunities for aspiring film makers. IFC is a subsidiary of Rainbow Media Holdings LLC.About SaavnSaavn brings the best of Bollywood and Indian entertainment to the world. As the largest digital distributor in Bollywood, Saavn owns the digital rights thousands of movies, music tracks, music videos, and ringtones. Saavn programs, packages and distributes its exclusive catalog and new Bollywood releases to more than 75 global media companies including Time Warner Cable, Cablevision, NetFlix, Verizon Wireless and Apple's iTunes. Saavn is a joint venture of [212]MEDIA and Hungama Mobile, and the company has offices in Mumbai, London, New York, Los Angeles, and Toronto. To find out more, visit: http://www.saavn.com.*NO PURCHASE NECESSARY TO ENTER OR WIN. A PURCHASE WILL NOT INCREASE YOUR CHANCES OF WINNING. No purchase necessary. Open to legal residents of 1 of the 50 US states or DC, age of majority or older. Contest ends noon PDT 7/31/09. Void where prohibited. See official rules at esurance-dot-com-slash-Bollywood.[More...]

Esurance and American Forests Plant 5,000 Trees

Wed, 15 Jul 2009 09:56:00 GMT

Esurance, the direct-to-consumer personal auto insurance company, announced its most recent environmental initiative. This month, Esurance will plant 5,000 trees in areas of California devastated by wildfires through American Forests' California Wildlife ReLeaf program. American Forests was the recipient of a $5,000 Earth Day Grant awarded by Esurance. Esurance's annual Earth Day grant program asks customers to nominate their favorite environmental organizations. American Forests, whose work includes reforestation and environmental education in pursuit of healthy forest ecosystems, was chosen as the 2009 Earth Day Grant recipient. 'Esurance is proud to have customers who are so actively engaged in making the world a better, greener place,' stated Joann Lee, Esurance's Community Relations Manager. 'As an auto insurance company dedicated to saving some green, we couldn't be happier to support American Forests in their efforts to restore essential natural resources in our national park system.'American Forests' California Wildfire ReLeaf program began in 1999 in response to the large areas of California land devastated by wildfires. This initiative has nearly reached its goal to plant one million trees in California's national parks and forests, including the Angeles, San Bernadino, and Sequoia National Forests. Deborah Gangloff, Executive Director of American Forests, commented, 'It is only through the contributions of our members, the public, and businesses like Esurance that we can fund the planting of trees to reforest wildfire-devastated lands. We commend Esurance and their customers for continuing to show their commitment to a healthy planet and healthy communities, even in these tough economic times.' For more details about the Esurance Earth Day grant and other environmental info, please visit:http://www.esurance.com/Welcome/home/home/green_policyholders.aspxFor more details about American Forests' California Wildfire ReLeaf program, please visit: http://www.americanforests.org/planttrees/af_info.php?campaign=cawildfireAbout EsuranceEsurance, a subsidiary of White Mountains Insurance Group, Ltd. , provides personal car insurance direct to consumers online and through select online agents. Because of Esurance's virtually paperless online customer experience, Esurance car insurance customers have saved thousands of trees since the company's inception. As of the end of the first quarter 2009, Esurance has also helped plant and maintain over 76,000 trees by supporting a variety of urban reforestation programs. Esurance is also committed to safeguarding the environment through its own operational practices, including a fleet of hybrid claims vehicles and investment in renewable energy sources to offset the electricity used in each of its permanent office locations. Over the years, Esurance's environmental initiatives have earned the company numerous awards and recognition. In 2008, Esurance was inducted into the U.S. Environmental Protection Agency's Green Power Leadership Club for its significant purchase of renewable energy credits. For more information about Esurance's green initiatives, visit: http://www.esurance.com/environmentAbout American ForestsAmerican Forests' mission is to grow a healthier world with trees by working with communities on local efforts that restore and maintain forest ecosystems. Our work encompasses planting trees, calculating the value of urban forests, fostering environmental education, and improving public policy for trees at the national level. We have a goal of 100 million trees planted by 2020.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995The press release may contain 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which we expect or anticipate will or may occur in the future are forward-looking statements. The words 'will,' 'believe,' 'intend,' 'expect,' 'anticipate,' 'project,' 'estimate,' 'predict' and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to White Mountains':*changes in adjusted book value per share or return on equity; *business strategy;*financial and operating targets or plans;*incurred losses and the adequacy of its loss and loss adjustment expense reserves and related reinsurance;*projections of revenues, income , earnings per share, dividends, market share or other financial forecasts;*expansion and growth of our business and operations; and*future capital expenditures.These statements are based on certain assumptions and analyses made by White Mountains in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to our expectations and predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:*the risks associated with Item 1A of White Mountains' 2008 Annual Report on Form 10-K;*claims arising from catastrophic events, such as hurricanes, earthquakes, floods or terrorist attacks;*the continued availability of capital and financing;*general economic, market or business conditions;*business opportunities that may be presented to it and pursued;*competitive forces, including the conduct of other property and casualty insurers and reinsurers;*changes in domestic or foreign laws or regulations, or their interpretation, applicable to White Mountains, its competitors or its clients;*an economic downturn or other economic conditions adversely affecting its financial position;*recorded loss reserves subsequently proving to have been inadequate; *other factors, most of which are beyond White Mountains' control.Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to update publicly any such forward-looking statements, whether as a result of new information, future events or otherwise.[More...]