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White Mountains’ Ark/WM Outrigger posts $778m GWP in Q2, CoR at 84%
Ark’s gross written premiums fell from $815 million to $778 million year over year, while its Q2 combined ratio held at 84% as Iran-related catastrophe losses added three points.
White Mountains Insurance Group, Ltd. reported second-quarter 2026 results for its property and casualty re/insurance segment Ark/WM Outrigger, which generated $778 million in gross written premiums, down from $815 million in the prior-year period. The combined ratio remained unchanged at 84%. Net written premiums rose to $537 million from $579 million in Q2 2025, while net earned premiums increased to $376 million from $364 million. Ark also reported a combined ratio of 84% for Q2 2026, compared with 85% in Q2 2025. Reinsurance News said the Q2 combined ratio included three points of catastrophe losses, driven primarily by losses related to the war in Iran, as well as eight points of net favorable prior-year development. During the quarter, Ark recorded estimated losses of $17 million, net of reinsurance and reinstatement premiums, related to the conflict. For the first six months of 2026, Ark/WM Outrigger posted a combined ratio of 88%, improving from 90% a year earlier. Gross written premiums declined to $1.87 billion from $1.92 billion, while net written premiums fell to $1.13 billion from $1.30 billion, even as net earned premiums rose to $750 million from $722 million. Ark recorded estimated Iran-related losses of $42 million over the first half.