-- the risks that are described from time to time in White Mountains's filings with the Securities and Exchange Commission, including but not limited to White Mountains's Annual Report on Form 10-K for the fiscal year ended December 31, 2019 and in Item 1A. Risk Factors of White Mountains's Quarterly Report on Form 10-Q for the period ended September 30, 2020; -- claims arising from catastrophic events, such as hurricanes, earthquakes, floods, fires, terrorist attacks -- or severe winter weather; -- the market value of White Mountains investment in MediaAlpha; -- the trends and uncertainties from the COVID-19 pandemic, including judicial interpretations on the extent of insurance coverage provided by insurers for COVID-19 related claims; -- business opportunities (or lack thereof) that may be presented to it and pursued; -- actions taken by ratings agencies, such as financial strength or credit ratings downgrades or placing ratings on negative watch; -- the continued availability of capital and financing; -- deterioration of general economic, market or business conditions, including due to outbreaks of contagious disease (including the COVID-19 pandemic) and corresponding mitigation efforts; -- competitive forces, including the conduct of other insurers; -- changes in domestic or foreign laws or regulations, or their interpretation, applicable to White Mountains, its competitors or its customers; and -- other factors, most of which are beyond White Mountains's control.-- change in book value or adjusted book value per share or return on equity; -- business strategy; -- financial and operating targets or plans; -- projections of revenues, income (or loss), earnings (or loss) per share, EBITDA, adjusted EBITDA, dividends, market share or other financial forecasts of White Mountains or its businesses; -- expansion and growth of its business and operations; and -- future capital expenditures.2020 2019 2020 2019 Total consolidated portfolio returns 14.3 % 3.9 % 31.9 % 20.4 % Remove MediaAlpha (12.6)% (1.0)% (27.3)% (7.4) % Total consolidated portfolio returns - excluding MediaAlpha 1.7 % 2.9 % 4.6 % 13.0 % Three Months Ended Twelve Months Ended December 31, December 31, 2020 2020 Total equity portfolio returns 34.7 % 79.8 % Remove MediaAlpha (30.7) % (74.9) % Total equity portfolio returns - excluding MediaAlpha 4.0 % 4.9 %
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This earnings release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included or referenced in this release which address activities, events or developments which White Mountains expects or anticipates will or may occur in the future are forward-looking statements. The words "could", "will", "believe", "intend", "expect", "anticipate", "project", "estimate", "predict" and similar expressions are also intended to identify forward-looking statements. These forward-looking statements include, among others, statements with respect to White Mountains's:
These statements are based on certain assumptions and analyses made by White Mountains in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors believed to be appropriate in the circumstances. However, whether actual results and developments will conform to its expectations and predictions is subject to risks and uncertainties that could cause actual results to differ materially from expectations, including:
Consequently, all of the forward-looking statements made in this earnings release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by White Mountains will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, White Mountains or its business or operations. White Mountains assumes no obligation to publicly update any such forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE White Mountains Insurance Group, Ltd.
/Web site: http://www.whitemountains.com
(END) Dow Jones Newswires
February 05, 2021 08:00 ET (13:00 GMT)