- White Mountains Insurance Group (WTM, Financial) to acquire a 51% controlling stake in Distinguished Programs for $230 million.
- Distinguished Programs manages over $550 million in annual premiums across 12 specialty insurance programs.
- Transaction anticipated to close in Q3 2025, pending regulatory approvals.
White Mountains Insurance Group, Ltd. (WTM) has announced a key acquisition deal to gain a majority stake in Distinguished Programs, a leading MGA and program administrator specializing in property and casualty insurance. The agreement, valued at $230 million, will result in White Mountains holding a 51% controlling interest in Distinguished Programs.
Distinguished Programs places over $550 million in premiums annually, offering a diversified portfolio comprising 12 specialty property and casualty insurance programs. The programs cover sectors such as commercial real estate, hotels, restaurants, community associations, and cyber insurance. This acquisition allows White Mountains to expand strategically within the specialty insurance market without directly assuming underwriting risk.
Aquiline Capital Partners, the current primary equity holder, will retain a significant minority interest in Distinguished Programs. The existing executive management team, including Bill Malloy, Jason Rotman, and Steve Sitterly, will continue to lead the company, ensuring continuity in operations and strategic direction.
The deal is expected to be finalized in the third quarter of 2025, subject to regulatory approvals and customary closing conditions. Rob Seelig can be contacted at (603) 640-2212 for further information regarding this transaction.
