Bamboo Insurance Services has filed for an IPO on the NYSE under the ticker BMB, aiming to raise up to $700 million. The offering consists of 35 million Class A shares priced between $18 and $20 each. This is a fully secondary offering, meaning all proceeds will go to selling shareholders, CVC Capital Partners and White Mountains Insurance Group, rather than the company.
At the midpoint of the price range, the company's valuation is expected to reach between $3.13 billion and $3.24 billion. This represents a significant increase from the $1.75 billion valuation recorded when CVC Capital Partners acquired majority control in 2025. The deal is being underwritten by J.P. Morgan, Morgan Stanley, and Deutsche Bank Securities.
Founded in 2018 and based in Midvale, Utah, Bamboo operates as a managing general underwriter. The company currently holds approximately 4% of the California homeowners insurance market. Its managed premiums grew from $66.6 million in 2022 to nearly $900 million by 2026. The firm also expanded its operations into Texas in September 2025.
For the first half of 2026, Bamboo reported revenue of $173.4 million, marking a 40% increase compared to the same period in 2025. Based on these figures, the company is on track for approximately $350 million in full-year revenue. The roadshow for the IPO began on September 14, 2026, with trading expected to commence on September 23.
