0000912057-01-537499.txt : 20011107
0000912057-01-537499.hdr.sgml : 20011107
ACCESSION NUMBER: 0000912057-01-537499
CONFORMED SUBMISSION TYPE: 8-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20011102
ITEM INFORMATION: Financial statements and exhibits
ITEM INFORMATION:
FILED AS OF DATE: 20011102
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: WHITE MOUNTAINS INSURANCE GROUP LTD
CENTRAL INDEX KEY: 0000776867
STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331]
IRS NUMBER: 942708455
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 8-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-08993
FILM NUMBER: 1773912
BUSINESS ADDRESS:
STREET 1: 80 SOUTH MAIN STREET
CITY: HANOVER
STATE: NH
ZIP: 03755-2053
BUSINESS PHONE: 6036431567
MAIL ADDRESS:
STREET 1: 80 SOUTH MAIN STREET
CITY: HANOVER
STATE: NH
ZIP: 03755
FORMER COMPANY:
FORMER CONFORMED NAME: FUND AMERICAN COMPANIES INC
DATE OF NAME CHANGE: 19920701
FORMER COMPANY:
FORMER CONFORMED NAME: FUND AMERICAN ENTERPRISES HOLDINGS INC
DATE OF NAME CHANGE: 19920703
FORMER COMPANY:
FORMER CONFORMED NAME: WHITE MOUNTAINS INSURANCE GROUP INC
DATE OF NAME CHANGE: 19990603
8-K
1
a2062465z8-k.txt
FORM 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
NOVEMBER 2, 2001
Date of Report (Date of earliest event reported)
WHITE MOUNTAINS INSURANCE GROUP, LTD.
(Exact name of registrant as specified in its charter)
BERMUDA 1-8993 94-2708455
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) file number) Identification No.)
80 SOUTH MAIN STREET, HANOVER, NEW HAMPSHIRE 03755
(Address of principal executive offices)
(603) 643-1567
(Registrant's telephone number, including area code)
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits. The following exhibits are filed herewith:
EXHIBIT NO. DESCRIPTION
----------- -----------
99 (a) Text of press release issued by White Mountains
Insurance Group, Ltd. dated November 2, 2001.
ITEM 9. REGULATION FD DISCLOSURE.
In a press release dated November 2, 2001, White Mountains Insurance Group, Ltd.
(the "Registrant") announced that it is seeking to establish as a founding
shareholder a new Bermuda-based property and casualty reinsurer. The
Registrant's press release November 2, 2001 is furnished herewith as Exhibit
99(a) and is incorporated by reference in its entirety.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
WHITE MOUNTAINS INSURANCE GROUP, LTD.
Dated: November 2, 2001 BY: /s/ J. BRIAN PALMER
----------------------------------------
J. Brian Palmer
Chief Accounting Officer
EX-99.A
3
a2062465zex-99_a.txt
EXHIBIT 99(A)
Exhibit 99(a)
[WHITE MOUNTAINS LOGO]
PRESS
RELEASE
WHITE MOUNTAINS TO FORM
BERMUDA REINSURER
HAMILTON, Bermuda, November 2, 2001 - White Mountains Insurance Group Ltd.
announced today it is seeking to establish a new Bermuda-based property and
casualty reinsurer to respond to the current favorable underwriting and pricing
environment in the reinsurance industry. The Company intends to focus initially
on property reinsurance business through the broker market. The Company is
expected to be capitalized with at least $1.0 billion. White Mountains will be a
founding shareholder and is expected to invest at least $200 million.
Jack Byrne will become Chairman of The Company. Byrne is currently Chairman of
White Mountains and Chairman of OneBeacon Insurance Group. He was formerly
Chairman and CEO of GEICO and of Fireman's Fund Corporation. Anthony Taylor,
formerly Deputy Chairman of Wellington Holdings plc, a publicly traded Lloyd's
underwriting vehicle, will become CEO and Chief Underwriting Officer of the
Company as of 1 January, 2002. Anthony Taylor has 25 years of experience in the
worldwide reinsurance business.
Jack Byrne said today "We are pleased to be supporting the launch of this new
venture. Led by Tony and my associates, I believe we have assembled a high
quality team to establish the Company at a time of significant opportunity in
the global reinsurance markets."
Anthony Taylor said "Our new Company will be a customer-focused reinsurer
providing solutions and support in the world wide property and casualty
reinsurance marketplace."
Banc of America Securities LLC and Benfield Advisory Limited are acting as
financial advisers to the Company.
White Mountains is a Bermuda-based insurance holding company traded on the New
York Stock Exchange under the symbol WTM.
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CORPORATE HEADQUARTERS: EXECUTIVE OFFICES:
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WHITE MOUNTAINS INSURANCE GROUP, LTD. WHITE MOUNTAINS INSURANCE GROUP, LTD.
12 CHURCH STREET, SUITE 322 80 SOUTH MAIN STREET, HANOVER, NH 03755
HAMILTON, HM 11 BERMUDA PH: 603-643-1567 - FAX: 603-643-4562
PH: 441-296-6011 - FAX: 441-296-9904 www.whitemountains.com
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
The information contained in this press release may contain forward-looking
statements within the meaning of the "safe harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995. White Mountains
cautions that a number of important factors could cause actual results to differ
materially from the plans, objectives, expectations, estimates and intentions
expressed in forward-looking statements made by White Mountains. These factors
include: (i) competitive forces, including the conduct of other property and
casualty insurers and reinsurers, (ii) changes in domestic or foreign laws or
regulations applicable to White Mountains, its competitors or its clients, (iii)
an economic downturn or other economic conditions (such as rising interest rate
environment) adversely affecting White Mountains' financial position, (iv) loss
reserves and other balance sheet items established by White Mountains
subsequently proving to have been inadequate, and (v) the failure of pending
transactions to be consummated under expected terms or at all. White Mountains
cautions that the foregoing list of important factors is not exhaustive. In any
event, such forward-looking statements made by White Mountains speak only as of
the date on which they are made, and White Mountains does not undertake any
obligation to update or revise such statements as a result of new information,
future events or otherwise.
CONTACT:
Dennis Beaulieu, White Mountains Insurance Group Ltd - 603-640-2206