White Mountains Insurance Group has agreed to offload a controlling stake in insurance distribution platform Bamboo to investment funds managed by CVC Capital Partners, in a deal valued at $1.75bn (€1.5bn).   

Bamboo operates as a data-driven platform focusing on the residential property market in California and Texas.  

The company’s managing general agent business encompasses the entire placement process for its fronting and reinsurance partners, including product development, underwriting, marketing, policy issuance and claims management. 

Additionally, Bamboo runs two integrated businesses: a retail agency providing third-party ancillary products and a captive reinsurer to share underwriting risk with its reinsurance partners, thereby aligning interests. 

Bamboo CEO John Chu said: “We thank the White Mountains team for their valuable guidance and support throughout our partnership. They have been instrumental in making our vision a reality.  

“This milestone represents the result of years of dedication and hard work by the entire Bamboo team and was only achieved with the support and confidence of our valued partners.”  

The sale is expected to yield White Mountains a gain of around $310 per share in book value and net cash proceeds of around $840m.  

Post-transaction, White Mountains will retain around a 15% equity interest in Bamboo, equating to a $250m valuation based on the sale price. 

White Mountains president and chief financial officer Liam Caffrey stated: “This transaction is a win-win for both White Mountains shareholders and Bamboo management and employees.”  

The deal is expected to close by the end of the fourth quarter of 2025, pending regulatory approvals and the satisfaction of other standard closing conditions.  

Its closure is not contingent upon financing. 

In July 2025, White Mountains agreed to acquire a 51% stake in Distinguished Programs, a specialist in property and casualty insurance programme management.