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White Mountains Insurance Group history
White Mountains Insurance Group company history timeline
Byrne greatly improved Fireman's underwriting ratios, and in 1985 he took the company public with an IPO that, at $25.75 a share, was the best offering in the history of IPO's.
In 1991, Byrne sold Fireman's insurance operations to Germany-based Allianz AG for $2.91 billion in cash.
Wholly-owned subsidiaries included White Mountains Insurance Co., which opened its New Hampshire-based commercial property and casualty operation in September 1995.
The company ended fiscal 1997 with a book value per share of $102.19, a growth of 13.5 percent, and market value that peaked at 27.3 percent growth.
In 1998, 125 agents transferred entire books of business worth $18 million to MSA and another 123 new agents began to represent the company.
The remaining stake is acquired in 1998.
FSA produced $200 million United States asset-based premiums during 1999--an increase of 36 percent--and reached a record $133 million in international premiums.
1999: Fund American changes its name to White Mountains Insurance Group, Ltd. and relocates to Bermuda.
On May 5, 2000, Folksamerica acquired Risk Capital Reinsurance Company in a transaction that broadened its product offerings in marine, accident, and health insurance.
The sale was completed in July 2000.
Furthermore, Folksamerica negotiated a quota-share retrocessional arrangement with Olympus Reinsurance Ltd. to capitalize on enhanced reinsurance fundamentals during 2002 and beyond.
By the end of first quarter 2002, the company stock was valued between a low of about $330 and a high of approximately $370 a share.
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White Mountains Insurance Group competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| BCS Financial | 1953 | $8.5M | 210 | 11 |
| Prudential Retirement Insurance And Annuity Co | - | $57 | 41,671 | - |
| Primerica | 1977 | $602.0M | 2,104 | 70 |
| Genworth | 2004 | $8.4B | 3,000 | 19 |
| Federal Deposit Insurance | 1933 | $5.5B | 5,977 | - |
| Elevance Health | 1944 | $121.9B | 63,900 | 2 |
| Morgan Stanley | 1935 | $3.0B | 68,097 | 1,266 |
| The Vanguard Group | 1975 | $6.9B | 17,600 | 259 |
| T. Rowe Price | 1937 | $7.1B | 7,678 | 539 |
| Transatlantic Holdings, Inc. | 1986 | $4.4B | 596 | 5 |
White Mountains Insurance Group history FAQs
Zippia gives an in-depth look into the details of White Mountains Insurance Group, including salaries, political affiliations, employee data, and more, in order to inform job seekers about White Mountains Insurance Group. The employee data is based on information from people who have self-reported their past or current employments at White Mountains Insurance Group. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by White Mountains Insurance Group. The data presented on this page does not represent the view of White Mountains Insurance Group and its employees or that of Zippia.
White Mountains Insurance Group may also be known as or be related to White Mountain Service, White Mountains Insurance Group, White Mountains Insurance Group Ltd and White Mountains Insurance Group, Ltd.