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White Mountains acquires minority equity stake in P&C insurance provider

White Mountains Insurance Group Ltd. acquired a minority equity stake in San Francisco-based Noblr Inc., a property and casualty insurance provider.

Prior to the acquisition, Noblr co-founder Gary Tolman resigned from the White Mountains board, of which he had been a member since 2015. Before joining the board, he had spent 15 years as president and CEO of Esurance.

Noblr uses telematics and proprietary technology to provide usage-based car insurance pricing, with factors considered including whether a driver starts and stops smoothly and chooses ostensibly safer highways over local roads. It also operates a customer membership scheme.

It currently offers insurance in Colorado, with plans to launch in other states.