UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 13F

                               FORM 13F COVER PAGE

       INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS PURSUANT
  TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934 AND RULES THEREUNDER

Report for the Calendar Year or Quarter Ended:  December 31, 2011.
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Check Here if Amendment / /; Amendment Number:
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   This Amendment (Check only one.):    / / is a restatement.
                                        / / adds new holdings entries.

Institutional Investment Manager Filing this Report:

   Name:                                   White Mountains Insurance Group, Ltd.
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   Address of Principal Executive Office:  80 South Main Street
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                                           Hanover, New Hampshire   03755-2053
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                                           U.S.A.
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Form 13F File Number: 028-01681
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The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:    J. Brian Palmer
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Title:   Vice President and Chief Accounting Officer
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Phone:   (603) 640-2200
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Signature, Place, and Date of Signing:

        /s/ J. Brian Palmer          Boston, Massachusetts   February 13, 2012
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           [Signature]                   [City, State]            [Date]

Report Type (Check only one.):

/ / 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
    manager are reported in this report.)

/ / 13F NOTICE. (Check here if no holdings reported are in this report,
    and all holdings are reported by other reporting manager(s).)

/X/ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
    reporting manager are reported in this report and a portion are reported by
    other reporting manager(s).)

List of Other Managers Reporting for this Manager:

No.  Form 13F File Number      Name

1.   028-12951                 OneBeacon Insurance Group, Ltd.
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2.   028-10494                 White Mountains Advisors LLC
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                              FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:      0
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Form 13F Information Table Entry Total: 2
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Form 13F Information Table Value Total: $ 158,192
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                                         (thousands)



                           FORM 13F INFORMATION TABLE

                      WHITE MOUNTAINS INSURANCE GROUP, LTD.

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------------------------------------------------------------------------------------------------------------ VOTING AUTHORITY VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER --------------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (x1,000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ SIEMENS AG SPONSORED ADR 826197501 $ 374 3,900 SH SOLE N/A 3,900 SYMETRA FINL CORP [1] COM 87151Q106 157,818 17,400,000 SH SOLE N/A 17,400,000
[1] The 17,400,000 shares of Symetra Financial Corp. over which the Reporting Person has investment discretion have previously been disclosed in the Reporting Person's periodic, quarterly, and annual reports as required under the Securities Exchange Act of 1934 (including Forms 10-Q, 10-K and Section 16 and 13G filings) and are reflected in the Reporting Person's Form 13F filing for the first time.