White Mountains approves repurchase of 1 million shares

White Mountains Insurance Group, the financial services holding company, has authorised the repurchase of up to an additional 1 million common shares. The timing is subject to market conditions.

The authorisation is in addition to the approximate 407,000 shares remaining under the Bermuda-based company's existing share repurchase authorisation.

Shares can 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.

White Mountains intends to fund any repurchases with available cash.