White Mountains sells controlling stake in Bamboo to CVC

Bermuda-based White Mountains Insurance Group has completed the sale of a controlling interest in Bamboo, a data-driven insurance distribution platform, to affiliates of funds advised by private equity firm CVC Capital Partners, with the transaction closing on December 5, 2025.

The completed transaction follows the definitive agreement signed on October 3, 2025.

Under the terms of the agreement, White Mountains sold a controlling financial interest in the Bamboo Group, which includes WM Pierce Holdings and its subsidiaries, such as Bamboo Ide8 Insurance Services. The White Mountains subsidiary sold approximately 77.3% of its equity interest in the Bamboo Group.

The transaction valued Bamboo at an enterprise value of $1.75 billion. White Mountains received net cash proceeds at closing of $848 million and retained an indirect equity interest valued at $250 million.

Following the completion of the sale, White Mountains continues to retain an approximate 15% fully-diluted equity stake in Bamboo.

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