White Mountains Insurance Group To Acquire 51% Stake In Distinguished Programs, Will Acquire ~50% Of Distinguished's Outstanding Equity Interests For $230M

White Mountains Insurance Group, Ltd. (NYSE:WTM) announced today that it has entered into an agreement to acquire a majority stake in Distinguished Programs ("Distinguished" or the "Company"), an MGA and program administrator for specialty property & casualty insurance. Following the acquisition, White Mountains will own a 51% controlling interest in Distinguished.

Distinguished is an MGA and program manager placing in excess of $550 million in premiums annually across a diversified portfolio of 12 specialty property and casualty programs such as commercial real estate, hotels & restaurants, community associations, environmental & construction professional, cyber, surety, executive lines, inland marine and fine arts & collectibles. Distinguished is led by industry veterans Bill Malloy, Jason Rotman and Steve Sitterly.

Aquiline Capital Partners, the current controlling equityholder of Distinguished, will remain a significant minority equityholder going forward. Distinguished's current executive management team will continue to lead the business, and each will remain a significant equityholder.

 

In the transaction, White Mountains will acquire approximately 50% of Distinguished's outstanding equity interests for $230 million. White Mountains currently owns approximately 1% of Distinguished's outstanding equity interests. The transaction is expected to close in the third quarter of 2025. The closing is subject to regulatory approvals and other customary closing conditions.