CVC targets $805mn Bamboo Insurance IPO

Private equity group CVC is moving to float Bamboo Insurance in an IPO that could raise up to $805 million less than a year after taking control of the tech-enabled homeowners MGA from White Mountains.

The AI- and tech-enabled homeowners MGA Bamboo Insurance is changing hands hard and fast. Carrier-building group White Mountains stepped in for a 70% stake in January 2024, then sold majority control to PE group CVC in December 2025.

CVC and White Mountains will sell a combined 35 million shares in a range from $18 to $20 per share, then hand deal underwriters an option for another 5.25 million shares. That puts the deal at anywhere from $630 million to $805 million. Bamboo won’t see a dime: no new shares on offer.

Despite the sale, current owners remain firmly in charge. CVC and White Mountains combine for 61% of the pending vote.

The firm claims 68% revenue growth in its MGA segment on 58% growth in managed premium. Adjusted EBITDA grew 77% to $104 million on a 38% margin, management claimed. In H1 2026, Bamboo claims 50% revenue growth in the MGA segment on 34% managed premium growth. Adjusted EBITDA margins expanded to 45% and rendered 82% growth in adjusted EBITDA.

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