White Mountains To Sell NSM Insurance Group To Funds Affiliated With Carlyle

(RTTNews) - White Mountains Insurance Group, Ltd. (WTM) has agreed to sell NSM Insurance Group to investment funds affiliated with Carlyle (CG). The deal values NSM at $1.775 billion.

NSM Insurance Group is a full-service MGA and program administrator for specialty property & casualty insurance. The sale is expected to close during the second half of 2022.

White Mountains Insurance Group expects the transaction will result in a gain of approximately $280 to its adjusted book value per share and will increase undeployed capital from approximately $0.4 billion to approximately $1.7 billion.