White Mountains (WTM) Adds 0.5M Shares to Stock Buyback Authorization

November 18, 2016 8:01 AM EST

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White Mountains Insurance Group, Ltd. (NYSE: WTM) announced that its Board of Directors authorised the Company to repurchase up to an additional 500,000 common shares, from time to time, subject to market conditions. This authorisation is in addition to the roughly 375,000 shares remaining under the Company's existing share repurchase authorization.

Shares may be purchased in the open market, through privately negotiated transactions, one or more tender offers or otherwise. The timing and actual number of shares repurchased will depend on a variety of factors, including stock price, alternative opportunities and other market conditions. The repurchase authorisation does not obligate White Mountains to acquire any specific number of shares.

The Company intends to fund any repurchases with available cash.

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