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White Mountains Sells Esurance to Allstate


Parsad
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WTM sold Esurance for $700M and the sale will increase book value by $80/share.  Stock is up 15% today.  Cheers!

 

http://finance.yahoo.com/news/White-Mountains-to-Sell-prnews-4038252346.html?x=0&.v=1

 

they got a good price for it. they grew it very nicely from the ground up but i'm shocked at how badly operated it, & the underwriting losses they sustained (last time i checked). at 1 point i thought it would prove to be their gem in the rough.

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