HAMILTON, Bermuda, Aug. 26 /PRNewswire-FirstCall/ -- The Board of
Directors of White Mountains Insurance Group, Ltd. (NYSE: WTM) today elected
Edith Holiday as a Director of the Company.
Ms. Holiday was formerly Assistant to the President of the United States
and Secretary of the Cabinet, where she was the primary White House liaison
with the Cabinet and all federal agencies, and General Counsel to the United
States Treasury. Ms. Holiday is the recipient of the Secretary of the
Treasury's highest award, the Alexander Hamilton Award. She currently serves
as a director of a number of public companies.
CEO Ray Barrette said, "We are pleased to welcome Ede to our Board. She
is a thoughtful and experienced director who has extensive board experience
with solid companies. In addition, her Washington experience is a welcomed
addition to our Company."
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 http://www.whitemountains.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act
This press 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 we expect or anticipate will or may
occur in the future are forward-looking statements. The words "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
* growth in book value per share or return on equity;
* business strategy;
* financial and operating targets or plans;
* incurred losses and the adequacy of its loss and loss adjustment expense
* projections of revenues, income (or loss), earnings (or loss) per share,
dividends, market share or other financial forecasts;
* expansion and growth of its business and operations; and
* future capital expenditures.
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 with its expectations and
predictions is subject to a number of risks and uncertainties that could cause
actual results to differ materially from expectations, including:
* the failure of announced acquisitions to enhance shareholder value;
* claims arising from catastrophic events, such as hurricanes,
earthquakes, floods or terrorist attacks;
* the continued availability of capital and financing;
* general economic, market or business conditions;
* business opportunities (or lack thereof) that may be presented to it and
* competitive forces, including the conduct of other insurers and
* changes in domestic or foreign laws or regulations applicable to White
Mountains, its competitors or its clients;
* an economic downturn or other economic conditions adversely affecting
its financial position;
* loss reserves established subsequently proving to have been inadequate;
* other factors, most of which are beyond White Mountains' control.
Consequently, all of the forward-looking statements made in this press
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 update
publicly any such forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACT: David Foy
SOURCE White Mountains Insurance Group, Ltd.
CONTACT: David Foy of White Mountains Insurance Group, Ltd., +1-203-453-