White Mountains Releases Preliminary Estimates of Losses Caused By Chilean Earthquake and European Windstorm Xynthia


HAMILTON, Bermuda, March 24, 2010 /PRNewswire-First Call -- White Mountains Insurance Group, Ltd. (NYSE: WTM) estimates that its total net losses resulting from the Chilean earthquake will be in a range of $55 - $145 million pretax, or $40 - $105 million after tax. This range estimate, which is subject to foreign currency fluctuations, is based on industry insured loss estimates for the Chile quake of $6 billion to $12 billion and is net of all retrocessions and reinstatement premiums. White Mountains’ estimated loss from Xynthia is $10 million pretax or $7 million after tax.

At this time, most of White Mountains’ estimated loss range from the earthquake in Chile has been approximated using third party catastrophe models, applying overall estimates of industry insured losses to White Mountains’ exposure information. Catastrophe exposure modeling is inherently uncertain and is dependent upon several broad assumptions including, in the case of earthquakes, demand surge (the localized increase in prices of goods and services that often follow a catastrophe) and zone density (the percentage of insured perils that would be affected in a region by a catastrophe). Historically, there often has been significant variability between modeled insuredlossestimatesforearthquakesandactuallossessustainedbythe(re)insuranceindustry. Also,the property-specific estimation and settlement process for earthquake insured losses can be prolonged. Therefore, there can be no assurance that White Mountains’ actual sustained losses from the Chilean earthquake will fall within the range expressed above.


White Mountains is a Bermuda-domiciled financial services holding company traded on the New York Stock Exchange and the Bermuda Stock Exchange under the symbol WTM. Additional financial information and other items of interest are available at the Company's web site located at www.whitemountains.com

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