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10-K primary document
WTM · Annual Report (Form 10-K) · Filed February 27, 2026

White Mountains Insurance Group Ltd — 10-K exhibit

wtm10-k2025exhibit21.htm
White Mountains Insurance Group Ltd on Boardroom Alpha
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Exhibit 21
SUBSIDIARIES OF THE REGISTRANT
AS OF DECEMBER 31, 2025
FULL NAME OF SUBSIDIARY
PLACE OF INCORPORATION
ARK INSURANCE HOLDINGS LIMITEDBERMUDA
GROUP ARK INSURANCE HOLDINGS LIMITEDBERMUDA
GROUP ARK INSURANCE LIMITEDBERMUDA
HG GLOBAL LTD
BERMUDA
HG HOLDINGS LTD
BERMUDA
HG RE LTD
BERMUDA
HG SERVICES LTD
BERMUDA
PSC HOLDINGS LTD.
BERMUDA
WHITE MOUNTAINS HOLDINGS LTDBERMUDA
WHITE MOUNTAINS INVESTMENTS (BERMUDA) LTD.
BERMUDA
WM HINSON (BERMUDA) LTDBERMUDA
WM PAGET (BERMUDA) LTDBERMUDA
AFSF V AIV PHOENIX AGGREGATOR LPDELAWARE, USA
COPPER FUNDING, LLCDELAWARE, USA
DISTINGUISHED, LLCDELAWARE, USA
DISTINGUISHED CAPITAL, LLCDELAWARE, USA
DISTINGUISHED GROUP, LLCDELAWARE, USA
DISTINGUISHED PRIZE INDEMNITY, LLCDELAWARE, USA
DISTINGUISHED PROGRAMS INS BROKERAGE, LLCDELAWARE, USA
DISTINGUISHED PROGRAMS, LLCDELAWARE, USA
DISTINGUISHED PROGRAMS RISK MANAGEMENT, LLCDELAWARE, USA
DISTINGUISHED SPECIALTY INS. BROKERAGE, LLCDELAWARE, USA
DISTINGUISHED SPECIALTY RISK MANAGEMENT, LLCDELAWARE, USA
DP D&O MANAGEMENT , LLCDELAWARE, USA
DP FINE ART AND COLLECTIBLES, LLCDELAWARE, USA
DP INLAND MARINE MANAGEMENT, LLCDELAWARE, USA
DP SURETY MANAGEMENT, LLCDELAWARE, USA
DEPI HOLDINGS, LLCDELAWARE, USA
IDP HOSPITALITY GROUP, LLCDELAWARE, USA
IDP HOLDINGS, LLCDELAWARE, USA
KUDU INVESTMENT HOLDINGS, LLC
DELAWARE, USA
KUDU INVESTMENT MANAGEMENT LLC
DELAWARE, USA
KUDU INVESTMENT US, LLC
DELAWARE, USA
PHOENIX INTERMEDIATE, LLCDELAWARE, USA
PHOENIX MERGER PARENT, LLCDELAWARE, USA
TK PARTNERS, LLC
DELAWARE, USA
WHITE MOUNTAINS ADVISORS LLC
DELAWARE, USA
WHITE MOUNTAINS CAPITAL, LLC
DELAWARE, USA
WHITE MOUNTAINS PARTNERS, LLCDELAWARE, USA
WHITE MOUNTAINS SERVICES LLC
DELAWARE, USA
WM ADAMS HOLDINGS, INC
DELAWARE, USA
WM CLAY HOLDINGS, INCDELAWARE, USA
WM JEFFERSON HOLDINGS, INC
DELAWARE, USA
WM LAFAYETTE HOLDINGS, LLC
DELAWARE, USA
WM LINCOLN HOLDINGS, LLC
DELAWARE, USA
WM MADISON HOLDINGS, INC
DELAWARE, USA
WM MONROE HOLDINGS, INC
DELAWARE, USA
WM MONROE BLOCKER GP, LLC
DELAWARE, USA
WM MONROE BLOCKER, L.P.
DELAWARE, USA
WM PHOENIX BLOCKER GP, LLC
DELAWARE, USA
WM PHOENIX BLOCKER, L.P.
DELAWARE, USA
WM PHOENIX PARENT, L.P.
DELAWARE, USA
WM PORTFOLIO HOLDINGS, LLC
DELAWARE, USA
WMP INVESTMENTS I, INCDELAWARE, USA
WM TAYLOR HOLDINGS, INC
DELAWARE, USA
WM WEBSTER HOLDINGS, INCDELAWARE, USA
TNUVA FINANCIT LTD
ISRAEL
WOBI INSURANCE AGENCY, LTD
ISRAEL
WHITE MOUNTAINS INVESTMENTS (LUXEMBOURG) S.A.R.L
LUXEMBOURG
ENTERPRISE ELECTRIC, LLCTENNESSEE, USA
ACCIDENT & HEALTH UNDERWRITING LIMITEDUNITED KINGDOM
ACCIDENT & HEALTH CLAIMS LLPUNITED KINGDOM
ARK CORPORATE MEMBER LIMITEDUNITED KINGDOM
ARK CORPORATE MEMBER NO. 2 LIMITEDUNITED KINGDOM
ARK CORPORATE MEMBER NO. 3 LIMITEDUNITED KINGDOM
ARK CORPORATE MEMBER NO. 4 LIMITEDUNITED KINGDOM
ARK SYNDICATE MANAGEMENT LIMITEDUNITED KINGDOM
KFO HOLDINGS LTDUNITED KINGDOM
KWCP HOLDINGS UK LTDUNITED KINGDOM
SYNDICATE ARK 4020UNITED KINGDOM
SYNDICATE NOA 3902UNITED KINGDOM
WM BIRKDALE LTDUNITED KINGDOM
WM CAPITAL HOLDINGS LTDUNITED KINGDOM
WM INTERNATIONAL HOLDINGS LTDUNITED KINGDOM
WM REGENT, LTDUNITED KINGDOM
RICHMOND RISK MANAGEMENT, INCVIRGINIA, USA
Certain other subsidiaries of the Company have been omitted since, in the aggregate, they would not constitute a significant subsidiary.

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