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News Breaks | | | | June 20, 2012 | | 16:34 EDT |  | WTM | White Mountains to acquire two runoff subsidiaries of PICO Holdings
White Mountains Solutions Holding, a wholly owned subsidiary of White Mountains Insurance Group (WTM) and the group's specialist runoff acquisition operation, announced that it had entered into a definitive agreement to acquire Physicians Insurance of Ohio and Citation Insurance from PICO Holdings (PICO). Both companies ceased underwriting in the mid-1990's and have been in runoff since that time. Under the terms of the agreement, White Mountains Solutions will pay approximately $17M subject to certain targeted pre-closing dividends. The transaction and related dividends are subject to Department of Insurance approvals in both California and Ohio. | |
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| May 14, 2013 | | 16:33 EDT | | WTM | White Mountains unit announces capital markets initiative
Sirius International Group, the Bermuda-based reinsurance unit of White Mountains Insurance, announced the formation of a dedicated team to lead its strategic initiative in the Insurance Linked Securities/reinsurance capital markets convergence arena. The new initiative will be jointly led by Michael Halsband in New York and Deanne Nixon in Bermuda, both of whom will report to Allan Waters, president and CEO of Sirius Group. | |
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