White Mountains to acquire 50% stake in Distinguished Programs

White Mountains Insurance Group has agreed to acquire a majority stake in Distinguished Programs, an MGA and program administrator for specialty property & casualty insurance, for $230 million.

White Mountains, which currently owns approximately 1% of Distinguished’s outstanding equity interests, will acquire an additional 50% in a transaction expected to close in Q3 of 2025, subject to regulatory approvals and other customary closing conditions.

Distinguished is an MGA and program manager placing over $550 million in annual premiums across 12 specialty P&C programs, led by industry veterans Bill Malloy, Jason Rotman, and Steve Sitterly.

As Reinsurance News understands, Distinguished’s current executive management team will continue to lead the business, and each will remain a significant equityholder.

At the same time, Aquiline Capital Partners, the current controlling equityholder of Distinguished, will remain a significant minority equityholder.

Manning Rountree, CEO of White Mountains, commented, “We’ve been keen observers of Distinguished’s recent progress, and we are pleased to make this acquisition alongside fellow shareholders and a seasoned management team we’ve known for many years.

“They are well-positioned in an attractive and dynamic market, and we look forward to partnering with the team to capitalise on the organic and inorganic growth opportunities ahead.”

Jason Rotman, President of Distinguished, said, “Partnering with White Mountains marks a new and exciting chapter for Distinguished. We believe that their deep insurance expertise, outstanding track record and relevant resources make them the ideal partner for our next phase.

“Bill, Steve and I look forward to maintaining and increasing the momentum created over the last three years of partnership with Aquiline.”

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