• White Mountains Insurance Group average debt/equity ratio for 2023 was 0.14, a 17.65% decline from 2022.
• White Mountains Insurance Group average debt/equity ratio for 2022 was 0.17, a 30.77% decline from 2021.
• White Mountains Insurance Group average debt/equity ratio for 2021 was 0.13, a 18.18% increase from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.