#Tender Offer #Bermuda #Hamilton #White Mountains #Insurance Group

White Mountains Insurance Group Unveils Tender Offer Results

White Mountains Insurance Group, Ltd. (NYSE: WTM) recently shared preliminary outcomes regarding its modified Dutch auction tender offer, which aimed at acquiring up to $300 million worth of its common shares. The offer officially closed at midnight, New York City time, on December 19, 2025.

According to initial data compiled by the designated tender offer depositary, a total of 67,186 shares were tendered properly and not subsequently withdrawn at or below the stipulated purchase price of $2,050 per share. This figure also includes 16,589 shares tendered under a guarantee of delivery.

Based on this preliminary count, White Mountains anticipates spending approximately $137.7 million on the validly tendered shares, which account for around 2.6% of the company's outstanding shares as of November 19, 2025. It’s worth noting that both the expected number of shares and the purchase price are subject to change, pending further confirmation by the depositary.

The final count of shares purchased and the confirmed pricing will be disclosed promptly after the expiration of the guaranteed delivery period, alongside the completion of the confirmation process by the depositary. The payments for shares accepted under this tender offer will be made to shareholders shortly after the final results are announced.

Currently, the company estimates that it will have roughly 2,476,555 common shares outstanding after payment for the accepted shares. For any shareholders with inquiries or needing additional information about the tender offer, they are encouraged to reach out to D.F. King & Co., the information agent for the offer, at (800) 821-2712 or via email at [email protected].

Prominent financial institutions BofA Securities, Inc. and Barclays Capital Inc. are serving as dealer managers for this offer.

Forward-Looking Statements

The press release includes forward-looking statements that indicate White Mountains' expectations or anticipations for future operations and developments. Common phrases used to communicate these forecasts include “could,” “will,” “believe,” “intend,” “expect,” and more. These proposals are based on a series of assumptions regarding historical trends, current market conditions, and anticipated future events.

However, it’s essential to recognize that actual results may diverge significantly from these expectations due to various risks and uncertainties. These risks encompass a range of factors, including but not limited to claims arising from catastrophic events, inadequate loss reserves, fluctuations in market value of investments, and potential actions from rating agencies that could affect company standings.

In addition, external conditions, such as economic downturns, regulatory changes, and competitive pressures, could also play a significant role in influencing outcomes. Given these circumstances, White Mountains cannot guarantee that the anticipated results will be achieved or that such results, if realized, will yield the expected benefits for the company or its stakeholders.

In summary, the company's completed preliminary evaluation of the tender offer indicates a robust shareholder response. It sets the stage for White Mountains Insurance Group to strategically manage its capital in alignment with its future operational objectives and shareholder value maximization strategies.

For further inquiries and deeper insights about the operations or strategic implications of this tender offer, shareholders can refer to the company’s filings with the Securities and Exchange Commission, including its latest Annual Report on Form 10-K.

Contact:
Rob Seelig
Phone: (603) 640-2212

Source: White Mountains Insurance Group, Ltd.