White Mountains increases profits in 2020, hails “outstanding” year

White Mountains Insurance Group has reported a healthy increase in profits for the full year and fourth quarter of 2020.

White Mountains reported a net profit of $708.7 million for the full year 2020, up from $414.5 million in 2019.

In Q4 it made a profit of $489.2 million, having made only $60.9 million in Q4 of 2019.

Its Build America Mutual (BAM) business reported gross written premiums of $61.7 million for 2020, up from $38.7 million in 2019, and of $16.1 million in Q4 2020, up from negative $2.5 million in Q4 2019.

Manning Rountree, the chief executive officer of White Mountains, hailed a strong Q4 finish to an “outstanding year”.