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White Mountains portfolio company acquires assets of life, health biz

White Mountains Insurance Group Ltd. portfolio company MediaAlpha, an advertising technology company, has acquired certain assets associated with Healthplans.com's health and life insurance business.

Terms of the deal were not disclosed.

The deal was financed with debt from MediaAlpha's existing lender and equity funded by existing unitholders. As a result of the deal, White Mountains' ownership in MediaAlpha increased to about 59% on a fully diluted basis.