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.
