White Mountains to Secure Significant Share in Highly Regarded Programs Portfolio
**White Mountains Insurance Group Acquires Majority Stake in Distinguished Programs**
White Mountains Insurance Group, a leading global insurer, has announced its acquisition of a majority stake in Distinguished Programs, a prominent specialty property and casualty insurance managing general agent (MGA) and program administrator. The deal, valued at approximately $230 million, will give White Mountains a 51% controlling ownership in Distinguished.
Founded in 1995, Distinguished is one of the largest independent program managers in the U.S., underwriting and distributing a range of specialty P&C insurance products across 12 programs. The company places over $550 million in premiums annually.
Aquiline Capital Partners LP, the current controlling equityholder, will remain a significant minority stakeholder after the deal. Distinguished’s executive management team—CEO Bill Malloy, President Jason Rotman, and COO Steve Sitterly—will continue to lead the company and retain substantial equity interests.
Jason Rotman, President of Distinguished, expressed his excitement about the partnership, stating, "White Mountains' deep insurance expertise, outstanding track record, and relevant resources make them the ideal partner for Distinguished's next phase." Manning Rountree, CEO of White Mountains, echoed this sentiment, expressing enthusiasm about the acquisition.
White Mountains looks forward to supporting Distinguished’s continued organic and inorganic growth strategy, with no major changes in management or strategy foreseen as part of the acquisition. The company views Distinguished as well-positioned in an attractive and dynamic market and aims to partner with the management team to capitalize on growth opportunities.
The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals and other customary closing conditions. Cravath, Swaine & Moore acted as legal advisor to White Mountains, while Willkie Farr & Gallagher acted as legal advisor to the Company and Aquiline Capital Partners, and Mayer Brown served as the legal advisor to Distinguished's management team.
This acquisition reflects White Mountains' confidence in Distinguished’s established specialty insurance platform and growth potential, aiming to expand the MGA’s footprint while maintaining continuity in leadership and ownership structure. With this partnership, both companies look forward to a new and exciting chapter in their growth journey.
The acquisition by White Mountains Insurance Group, a prominent global insurer, of a majority stake in Distinguished Programs for approximately $230 million will align their finance strategies. This strategic move is expected to support Distinguished's continued growth in the specialty property and casualty insurance market.
