White Mountains buying majority stake in Distinguished Programs

White Mountains Insurance Group Ltd. Monday said it has entered into an agreement to acquire a majority stake in Distinguished Programs Group LLC, a managing general agent and program administrator for specialty property and casualty insurance.

White Mountains, an insurer that currently owns about 1% of Distinguished Programs’ outstanding equity interests, will acquire about 50% of its outstanding equity interests for $230 million.

The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals and other customary closing conditions.

Following the acquisition, White Mountains will own a 51% controlling interest in Distinguished Programs.

Aquiline Capital Partners LP, the current controlling equityholder of Distinguished Programs, will remain a significant minority stakeholder going forward, and the MGA’s current executive management team will continue to lead the business, and each will remain a significant equityholder.