White Mountains Insurance Group Management

Management criteria checks 3/4

White Mountains Insurance Group's CEO is George Rountree, appointed in Mar 2017, has a tenure of 7.17 years. total yearly compensation is $7.58M, comprised of 7.7% salary and 92.3% bonuses, including company stock and options. directly owns 0.94% of the company’s shares, worth €39.66M. The average tenure of the management team and the board of directors is 5.1 years and 4.1 years respectively.

Key information

George Rountree

Chief executive officer

US$7.6m

Total compensation

CEO salary percentage	7.7%
CEO tenure	7.2yrs
CEO ownership	0.9%
Management average tenure	5.1yrs
Board average tenure	4.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has George Rountree's remuneration changed compared to White Mountains Insurance Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$8m	US$585k	US$502m
Sep 30 2023	n/a	n/a	US$248m
Jun 30 2023	n/a	n/a	US$220m
Mar 31 2023	n/a	n/a	US$27m
Dec 31 2022	US$7m	US$500k	-US$120m
Sep 30 2022	n/a	n/a	-US$118m
Jun 30 2022	n/a	n/a	-US$485m
Mar 31 2022	n/a	n/a	-US$176m
Dec 31 2021	US$7m	US$500k	-US$268m
Sep 30 2021	n/a	n/a	US$185m
Jun 30 2021	n/a	n/a	US$788m
Mar 31 2021	n/a	n/a	US$767m
Dec 31 2020	US$7m	US$500k	US$711m
Sep 30 2020	n/a	n/a	US$278m
Jun 30 2020	n/a	n/a	US$95m
Mar 31 2020	n/a	n/a	-US$800k
Dec 31 2019	US$7m	US$500k	US$408m
Sep 30 2019	n/a	n/a	US$212m
Jun 30 2019	n/a	n/a	US$222m
Mar 31 2019	n/a	n/a	US$206m
Dec 31 2018	US$6m	US$500k	-US$122m
Sep 30 2018	n/a	n/a	US$31m
Jun 30 2018	n/a	n/a	-US$10m
Mar 31 2018	n/a	n/a	-US$3m
Dec 31 2017	US$7m	US$500k	US$42m

Compensation vs Market: George's total compensation ($USD7.58M) is above average for companies of similar size in the German market ($USD2.56M).

Compensation vs Earnings: George's compensation has been consistent with company performance over the past year.

CEO

George Rountree (51 yo)

7.2yrs

Tenure

US$7,577,001

Compensation

Mr. George Manning Rountree serves as Director and served as the Chairman of the Board at Build America Mutual Assurance Company since 2020. Mr. Rountree has been the Chief Executive Officer of White Mount...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
George Rountree	CEO & Director	7.2yrs	US$7.58m	0.94% $ 40.6m
Liam Caffrey	Executive VP & CFO	2.2yrs	US$5.68m	0.14% $ 6.2m
Michaela Hildreth	MD & Chief Accounting Officer	3yrs	US$3.14m	0.15% $ 6.5m
Robert Seelig	Executive VP	21.7yrs	US$4.40m	0.80% $ 34.6m
Jonathan Cramer	Chief Investment Officer	2.3yrs	no data	no data
Jennifer Moyer	Chief Administrative Officer & Corporate Secretary	no data	no data	no data
David Staples	Head of Tax	no data	US$302.48k	no data
Dennis Beaulieu	Treasurer	22.9yrs	no data	no data
Timothy Miller	CEO of OneBeacon Ltd	19.1yrs	US$6.45m	no data
Mark Plourde	President of WMA	2.3yrs	no data	no data

5.1yrs

Average Tenure

54yo

Average Age

Experienced Management: WNI's management team is seasoned and experienced (5.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
George Rountree	CEO & Director	7.2yrs	US$7.58m	0.94% $ 40.6m
David Tanner	Independent Deputy Chairman	5.8yrs	US$391.20k	0.071% $ 3.1m
Reid Campbell	Non-Independent Director	less than a year	US$1.57m	0.60% $ 26.1m
Mary Choksi	Independent Director	6.8yrs	US$445.41k	0.061% $ 2.6m
Weston Hicks	Independent Chairman of the Board	1.3yrs	US$700.97k	0.091% $ 3.9m
Philip Gelston	Independent Director	6.3yrs	US$420.35k	0.056% $ 2.4m
Peter Carlson	Independent Director	5.2yrs	US$470.41k	0.038% $ 1.6m
Suzanne Shank-Werdlow	Independent Director	2.6yrs	US$410.41k	0.022% $ 947.7k
Steven Yi	Non-Independent Director	less than a year	US$376.20k	0.0083% $ 357.8k
Margaret Dillon	Independent Director	3yrs	US$391.20k	0.025% $ 1.1m

4.1yrs

Average Tenure

62yo

Average Age

Experienced Board: WNI's board of directors are considered experienced (4.1 years average tenure).

White Mountains Insurance Group Management

Management criteria checks 3/4

Key information

Recent management updates

White Mountains Insurance Group, Ltd. Announces Executive Changes

White Mountains Insurance Group, Ltd., Annual General Meeting, May 23, 2024

High number of new directors

Independent Chairman of the Board recently bought €1.4m worth of stock

White Mountains Insurance Group, Ltd. Announces Appointment of Steve Yi as A New Member of the Board of Director, Effective 25 May 2023

White Mountains Insurance Group, Ltd. Announces Board Changes

Recent updates

White Mountains Insurance Group, Ltd. Announces Executive Changes

Dividend of US$1.00 announced

White Mountains Insurance Group, Ltd., Annual General Meeting, May 23, 2024

High number of new directors

Full year 2023 earnings released: EPS: US$199 (vs US$42.64 loss in FY 2022)

White Mountains Insurance Group, Ltd. Declares Annual Dividend, Payable on March 20, 2024

Full year 2023 earnings released: EPS: US$199 (vs US$42.64 loss in FY 2022)

Independent Chairman of the Board recently bought €1.4m worth of stock

Third quarter 2023 earnings released: EPS: US$9.19 (vs US$1.68 loss in 3Q 2022)

Second quarter 2023 earnings released: EPS: US$7.64 (vs US$59.00 loss in 2Q 2022)

White Mountains Insurance Group, Ltd. Announces Appointment of Steve Yi as A New Member of the Board of Director, Effective 25 May 2023

White Mountains Insurance Group, Ltd. Announces Board Changes

First quarter 2023 earnings released: EPS: US$69.83 (vs US$9.78 in 1Q 2022)

Full year 2022 earnings released: US$38.57 loss per share (vs US$95.58 loss in FY 2021)

MD & Chief Accounting Officer recently sold €129k worth of stock

Third quarter 2022 earnings released: US$1.69 loss per share (vs US$120 loss in 3Q 2021)

White Mountains Insurance Group, Ltd. (NYSE:WTM) announces an Equity Buyback for $500 million worth of its shares.

Second quarter 2022 earnings released: US$58.95 loss per share (vs US$44.56 profit in 2Q 2021)

Carlyle Partners VIII, managed by The Carlyle Group Inc. (NasdaqGS:CG) completed the acquisition of NSM Insurance Group, LLC from White Mountains Insurance Group, Ltd. (NYSE:WTM) and management.

MD & Chief Accounting Officer recently sold €118k worth of stock

Now 21% undervalued

Investment funds affiliated with The Carlyle Group Inc. (NasdaqGS:CG) signed a definitive agreement to acquire NSM Insurance Group, LLC from White Mountains Insurance Group, Ltd. (NYSE:WTM) in a transaction valued at $1.8 billion.

First quarter 2022 earnings released: EPS: US$11.21 (vs US$30.41 loss in 1Q 2021)

Now 20% undervalued

White Mountains Insurance Group, Ltd., Annual General Meeting, May 26, 2022

White Mountains Insurance Group, Ltd. Declares Dividend for the Year 2021, Payable on March 23, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Third quarter 2021 earnings released: US$120 loss per share (vs US$75.33 profit in 3Q 2020)

Second quarter 2021 earnings released: EPS US$44.56 (vs US$37.46 in 2Q 2020)

White Mountains Insurance Group, Ltd.(NYSE:WTM) dropped from Russell 1000 Dynamic Index

Independent Director has left the company

MD & Chief Accounting Officer has left the company

First quarter 2021 earnings released: US$30.41 loss per share (vs US$40.84 loss in 1Q 2020)

Full year 2020 earnings released: EPS US$228 (vs US$130 in FY 2019)

New 90-day high: €965

Independent Non-Executive Chairman recently sold €1.4m worth of stock

Full year 2020 earnings released: EPS US$232 (vs US$130 in FY 2019)

New 90-day high: €880

New 90-day high: €840

White Mountains Insurance Group, Ltd. Announces Executive Changes. Effective from May 14, 2021

New 90-day high: €815

Third quarter 2020 earnings released: EPS US$75.32

New 90-day high: €810

New 90-day low - €690

Earnings released

New 90-day low - €710

CEO Compensation Analysis

CEO

Tenure

Compensation

Leadership Team

Average Tenure

Average Age

Board Members

Average Tenure

Average Age