White Mountains (WTM) Reports Q3 EPS of $0.72
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July 27, 2015 8:02 AM EDT
HAMILTON, Bermuda, July 27, 2015 /PRNewswire/ --Â White Mountains Insurance Group, Ltd. (NYSE: WTM) reported an adjusted book value per share of $671 at June 30, 2015, up 1.1% for both the second quarter and first six months of 2015, including dividends.
Ray Barrette, Chairman and CEO, commented, "It was a solid quarter. Sirius Group reported a 78% combined ratio continuing its long track record of success. We announced separately this morning that we have signed a definitive agreement to sell Sirius Group for about 127% of book value in cash. OneBeacon reported a 95% combined ratio with good premium growth in... More
July 27, 2015 8:01 AM EDT
HAMILTON, Bermuda, July 27, 2015 /PRNewswire/ --Â White Mountains Insurance Group, Ltd. (NYSE: WTM) today announced it has signed a definitive agreement to sell Sirius International Insurance Group, Ltd. ("Sirius") to CM International Holding PTE Ltd., the Singapore-based investment arm of China Minsheng Investment Corp., Ltd. ("CMI").Â
The purchase price will be paid in cash in an amount equal to 127.3% of Sirius's closing date tangible common shareholder's equity plus $10 million. Based on Sirius's tangible common shareholder's equity of $1,748 million at December 31, 2014, the purchase price would be approximately $2,235 million.  White Mountains has the... More
