Yves Brouillette Elected to White Mountains Insurance Board
HAMILTON, Bermuda, Aug. 24 /PRNewswire-FirstCall/ -- The Board of Directors of White Mountains Insurance Group, Ltd. (NYSE: WTM) yesterday elected Yves Brouillette as a Director of the Company.
Mr. Brouillette is a retired insurance executive. He spent most of his career as CEO of insurance for ING in Canada and Latin America. He is currently non-executive chairman of ING Canada. He is a Fellow of the Casualty Actuarial Society and a member of the Canadian Institute of Actuaries.
Chairman Ray Barrette said, "I am pleased to welcome Yves to our Board. With his track record of successfully acquiring and running property casualty insurance companies around the world, he will add significant value to our decision-making process at the board level."
ADDITIONAL INFORMATION
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.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The 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 "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':
X growth in book value per share or return on equity;
X business strategy;
X financial and operating targets or plans;
X incurred losses and the adequacy of its loss and loss adjustment expense
reserves and related reinsurance;
X projections of revenues, income (or loss), earnings (or loss) per share,
dividends, market share or other financial forecasts;
X expansion and growth of our 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 to our expectations and
predictions is subject to a number of risks and uncertainties that could cause actual results to differ materially from expectations, including:
X the risks associated with Item 1A of White Mountains' 2005 Annual Report
on Form 10-K and second quarter 2006 Form 10Q;
X claims arising from catastrophic events, such as hurricanes,
earthquakes, floods or terrorist attacks;
X the continued availability of capital and financing;
X general economic, market or business conditions;
X business opportunities (or lack thereof) that may be presented to it and
pursued;
X competitive forces, including the conduct of other property and casualty
insurers and reinsurers;
X changes in domestic or foreign laws or regulations, or their
interpretation, applicable to White Mountains, its competitors or its
clients;
X an economic downturn or other economic conditions adversely affecting
its financial position;
X recorded loss reserves subsequently proving to have been inadequate;
X 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: Rob Seelig
Tel: (603) 640-2206
SOURCE White Mountains Insurance Group, Ltd.