Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
GLASTONBURY, Conn., Dec. 3, 2012 /PRNewswire/ -- White Mountains Solutions Holding Company, Inc. (White Mountains Solutions), a wholly owned subsidiary of White Mountains Insurance Group, Ltd. (NYSE: WTM) and the group's specialist runoff acquisition operation, announced today that it had completed the acquisition of four runoff entities following receipt of all regulatory approvals. The transactions, which were announced this past June, entail the acquisition of Physicians Insurance Company of Ohio and Citation Insurance Company from PICO Holdings and also the acquisition of two AIG runoff subsidiaries, American General Indemnity Company and American General Property Insurance Company.
White Mountains Solutions is a wholly owned subsidiary of White Mountains Insurance Group, Ltd. White Mountains Insurance Group, Ltd. 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 on the company's website at www.whitemountains.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
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 "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':
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:
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 publicly update any such forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT:Neal Wasserman(860) 368-2003
SOURCE White Mountains Insurance Group, Ltd.