White Mountains Insurance Group has agreed to invest approximately $285 million in Bamboo Ide8 Insurance Services to acquire a majority stake, aiming to support its growth and expansion into new markets.

Target Information

White Mountains Insurance Group, a financial services holding company based in Bermuda, has announced its agreement to invest approximately $285 million in Bamboo Ide8 Insurance Services, a managing general agent specializing in homeowners insurance in California. This investment will enable White Mountains to acquire a majority stake in Bamboo and provide necessary capital for its growth initiatives.

Bamboo serves over 100,000 policyholders in California and is poised to expand into additional states, catering to the insurance needs of homeowners seeking accessible and reliable coverage.

Industry Overview

The homeowners insurance market in California is characterized by intense competition and evolving consumer needs. With a population exceeding 39 million, California represents a substantial pool