WHITE MOUNTAINS INSURANCE GROUP LTD — Director's Dealing 2012

Feb 2, 2012

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: WHITE MOUNTAINS INSURANCE GROUP LTD (WTM)
CIK: 0000776867
Period of Report: 2011-12-31

Reporting Person: BARRETTE RAYMOND JOSEPH RENE (Director, Chief Executive Officer, Chairman of the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-22	Common Shares	G	2276	—	Disposed	17469	Indirect
2011-12-20	Common Shares	G	1000	—	Disposed	10368	Direct
2011-12-27	Common Shares	G	725	—	Disposed	9643	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares (restricted)	22000	Direct
Common Shares	20820	Indirect
Common Shares	10751	Indirect
Common Shares	5230	Indirect
Common Shares	526	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Common Share Options	$742.00	2017-01-20	Common Shares (125000)	125000	Direct

Footnotes

F1: Gifts made to non-dependent child on February 22, 2011 and July 14, 2011.

F2: Reflects net increase in GRAT holdings of 4,590 Common Shares, all of which Reporting Person includes in his Sec. 16 holdings.

F3: Gift made to family charitable foundation in which Reporting Person disclaims beneficial ownership.

F4: Reflects gifts made by Reporting Person to wife and daughter, and net shares transfers to GRATs, all of which Reporting Person includes in his Sec. 16 holdings.

F5: Reflect receipt of gifts in 2011 of 14,705 Common Shares from the Reporting Person.

F6: Reflects receipt of gifts in 2011 of 2,276 Common Shares from the Reporting Person.

F7: All the options are vested and immediately exerciseable.