Bamboo Insurance Services, the residential property insurer specializing in wildfire-prone areas of California, is aiming to raise $700 million in its NYSE listing under the ticker BMB. This is a fully secondary offering, meaning the entire proceeds will go to selling shareholders CVC Capital Partners and White Mountains Insurance Group, not to the company itself. The transaction values Bamboo at approximately $3.2 billion, nearly double the $1.75 billion valuation when CVC took majority control in 2025. The insurer has seen spectacular growth in managed premiums, rising from $66.6 million in 2022 to nearly $900 million by 2026, and reported $173.4 million in revenue for the first half of 2026, up 40% year-over-year.
Source: Read the original article
