Home Insurer Bamboo Insurance Files for $700 Million IPO

Bamboo Insurance Services Inc., a technology-focused home insurance underwriter backed by private equity firm CVC Capital Partners, has filed to raise up to $700 million in an initial public offering. The company's existing stockholders will be selling their shares, meaning Bamboo Insurance itself will not receive any proceeds from the sale.

Offering Details

According to a Monday filing with the U.S. Securities and Exchange Commission, the company plans to offer 35 million shares at a price range of $18 to $20 per share. The Midvale, Utah-based company has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol "BMB".

Because the offering is a secondary sale by existing shareholders, the capital raised will go to the selling investors rather than being used to fund the company's operations or growth. The underwriting group, which includes J.P. Morgan and Morgan Stanley, has an option to purchase up to an additional 5.25 million shares to cover potential over-allotments.

Business Model and Financial Performance

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Bamboo Insurance operates as an AI-enabled managing general underwriter (MGU) in the homeowners insurance market. This model involves managing the entire insurance process, from distribution to claims, while partnering with other firms, or "capacity providers," who assume the underlying balance sheet risk.

The company reported strong growth and profitability in its filing. For the six months ended June 30, 2026, Bamboo generated:

• Net income of $14 million
• Revenue of $173 million

During that same period, its managed premium grew by 34%. As of June 30, 2026, the company's programs were supported by 7 program partners and 60 global reinsurers. Bamboo currently operates in California and Texas, having entered the Texas market in September 2025.