WHITE MOUNTAINS INSURANCE GROUP LTD — Director's Dealing 2016

Nov 23, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: WHITE MOUNTAINS INSURANCE GROUP LTD (WTM)
CIK: 0000776867
Period of Report: 2016-11-18

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
2016-11-18	Common Shares	M	3000	$742.00	Acquired	37975	Direct
2016-11-18	Common Shares	F	2658	$837.21	Disposed	35317	Direct
2016-11-21	Common Shares	M	3000	$742.00	Acquired	38317	Direct
2016-11-21	Common Shares	F	2673	$832.56	Disposed	35644	Direct
2016-11-22	Common Shares	M	3000	$742.00	Acquired	38644	Direct
2016-11-22	Common Shares	F	2688	$828.06	Disposed	35956	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-11-18	Common Share Options (right to buy)	$742.00	M	3000	Disposed	2017-01-20	Common Shares (3000)	Direct
2016-11-21	Common Share Options (right to buy)	$742.00	M	3000	Disposed	2017-01-20	Common Shares (3000)	Direct
2016-11-22	Common Share Options (right to buy)	$742.00	M	3000	Disposed	2017-01-20	Common Shares (3000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	12278	Indirect
Common Shares (restricted)	5000	Direct
Common Shares	6106	Indirect
Common Shares	716	Indirect

Footnotes

F1: Includes shares held in accounts jointly owned by the Reporting Person and his spouse.

F2: All of the options are fully vested and exercisable.