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White Mountains Insurance Group vs RLI: WTM and RLI compared
White Mountains Insurance Group is the larger company: $641M of revenue in its latest quarter (Q3 2026) against $477M for RLI (Q3 2026). RLI is growing faster (-6% against -26% a year earlier). RLI is more profitable, with an operating margin of 21.6% against -3.6%.
Where the money goes: WTM and RLI
White Mountains Insurance Group (WTM) · Q3 2026
White Mountains Insurance Group, Q3 2026: revenue $641M (-26% year over year), operating margin -3.6%, net loss $29.6M, operating cash flow $357M. The chart follows the revenue to costs, profit and cash.
RLI (RLI) · Q3 2026
RLI, Q3 2026: revenue $477M (-6% year over year), operating margin 21.6%, net earnings $81.0M, operating cash flow $195M. The chart follows the revenue to costs, profit and cash.
| White Mountains Insurance Group (WTM) | RLI (RLI) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $641M | $477M |
| Revenue growth, Y/Y | -26% | -6% |
| Operating margin | -3.6% | 21.6% |
| Net earnings | −$29.6M | $81.0M |
| Net margin | -4.6% | 17.0% |
| Operating cash flow | $357M | $195M |
| Free cash flow | — | $192M |
| Market value | $5.3B | $6.3B |
| P/E | 5.3× | 15.9× |
| Analysts’ mean target | — | $58.25 |
Questions
Which is bigger, White Mountains Insurance Group or RLI?
White Mountains Insurance Group is the larger company: $641M of revenue in its latest quarter (Q3 2026) against $477M for RLI (Q3 2026).
Is White Mountains Insurance Group or RLI growing faster?
RLI is growing faster (-6% against -26% a year earlier).
Which is more profitable, White Mountains Insurance Group or RLI?
RLI is more profitable, with an operating margin of 21.6% against -3.6%.
More: White Mountains Insurance Group earnings · how White Mountains Insurance Group makes money · RLI earnings · how RLI makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 5, 2026; 10-Q filed Oct 21, 2026). Fiscal quarters can end on different dates. Not investment advice.