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Slide #45. White Mountains Insurance Group, Ltd. — Star & Shield Holdings LLC's certain assets and liabilities
White Mountains Insurance Group, Ltd. (NYSE:WTM)
Star & Shield Holdings LLC's certain assets and liabilities
White Mountains Insurance Group, Ltd. (NYSE: WTM) ("White Mountains") and Star & Shield Group announced today that Star & Shield Holdings LLC had entered into a definitive agreement to sell certain assets and liabilities to a wholly-owned subsidiary of White Mountains. Under the terms of the agreement, White Mountains will acquire Star & Shield Risk Management LLC, the attorney-in-fact for Star & Shield Insurance Exchange, a Florida-domiciled reciprocal insurance exchange providing private passenger auto insurance to members of the public safety community and their families, and other related entities within the Star & Shield Group.
White Mountains Insurance Group conducts its business primarily in four areas: municipal bond insurance, specialty insurance distribution, capital solutions for asset management firms, and other operations. Co.'s municipal bond insurance business is conducted through its subsidiary HG Global Ltd. and its reinsurance subsidiary HG Re Ltd. (collectively, HG Global). HG Global funds the startup of and provides reinsurance to Build America Mutual Assurance Company, a mutual municipal bond insurance company. Co.'s specialty insurance distribution business is conducted through its subsidiary NSM Insurance HoldCo, LLC and its subsidiaries. Co. provides capital solutions for asset management firms.
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Hold (2.00 out of 4)