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White Mountains to sell NSM to Carlyle

White Mountains Insurance Group is to sell NSM Insurance Group (NSM) to investment funds affiliated with global investment firm Carlyle.

The transaction values NSM at $1.775 billion.
 
White Mountains 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.

The transaction is expected to close during the second half of 2022. 

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