BSX Approves Secondary Listing of Common Shares of White Mountains Insurance Group, Lt

White Mountains was originally formed as a Delaware corporation in 1980. In October 1999, White Mountains completed a corporate reorganization that changed its domicile from Delaware to Bermuda. White Mountains' Common Shares received a primary listing on the New York Stock Exchange (NYSE: €˜WTM') in October 1985. The BSX listing is a secondary listing and is effective from September 2003.

The Company is an insurance holding company whose principal businesses are conducted through its subsidiaries and affiliates in property and casualty insurance and reinsurance. During the six months ended 30th June 2003, White Mountains underwrote $1.56 billion in earned insurance and reinsurance premiums. Shareholders' equity at 30th June 2003 was $2.87 billion.

The listing of the Common Shares of White Mountains was sponsored by LOM Capital Limited.

"The BSX welcomes White Mountains Insurance Group, Ltd. to listing", said Mr. James S. McKirdy, Listings and Compliance Manager of the BSX. "White Mountains joins the growing list of Bermuda-domiciled insurance companies to list on the Exchange on a secondary basis."

White Mountains' Chairman, Jack Byrne, said: "White Mountains is delighted to be the newest member of the Bermuda Stock Exchange. We are proud of our Bermuda home and are pleased to be a recognized member of such a respected international organization and the Bermuda business community."

"LOM Capital is delighted to have sponsored the White Mountains Insurance Group, Ltd. on the BSX. The White Mountains listing is the fifth insurance/reinsurance holding company we have sponsored onto the BSX in the past 21 months" said Scott Lines, Managing Director of LOM Capital. "White Mountains is a substantial addition to the very high quality, world class, reinsurance companies listed in Bermuda."