History

Four European mutual companies formed White Mountains Reinsurance Company of America (formerly Folksamerica Reinsurance Company) in 1980. Since then, White Mountains Reinsurance Company of America (“White Mountains Re America”) has employed a focused, forward-looking strategy that has provided a foundation for our growth, strengthened our financial position and established our reputation for quality.   In 1996, seeing the need for continued surplus growth,  White Mountains Re America attracted the interest of White Mountains Insurance Group, Ltd. (“White Mountains”).

White Mountains made its initial investment in White Mountains Re America in June of 1996 when it acquired a 50% ownership, with the remaining 50% owned by the founding European mutual companies.   Two years later, White Mountains acquired the balance of White Mountains Re America from the founding European mutuals.   Since August 1998 White Mountains Re America has been a wholly owned subsidiary of White Mountains, benefitting from its strength, capital and support.  White Mountains contributed $425 million in 2001, almost doubling the size of White Mountains Re America and greatly enhancing its strong position in a rapidly changing reinsurance marketplace.

White Mountains Re America’s success was also a result of significant acquisition activity. From 1991 to 2004, a time period in which White Mountains Re America's surplus grew from $113 million to nearly $1 billion, nine acquisitions were completed.

In 2004, along with White Mountains, White Mountains Re America led the acquisition of Sirius International.  As a result, White Mountains Re Group, Ltd. was created to oversee the global reinsurance operations, and White Mountains Re America became a large and integral affiliate of this global reinsurance operation. For more information on White Mountains Re Group, visit www.wtmre.com