Bamboo Insurance Services, which provides homeowners insurance as a managing general underwriter, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company is a homeowners insurance managing general underwriter that manages functions across the insurance value chain, including data science and advanced analytics, underwriting, and claims handling, while partnering with a diversified group of Capacity Providers that issue policies on their own paper and bear the underwriting risk. Revenue comes primarily from commissions paid by those Capacity Providers and fees paid by policyholders. Bamboo Insurance held approximately 4% of the California homeowners market as of December 31, 2025, entered Texas in September 2025, and grew Managed Premium 58% to $766 million in 2025. Bamboo Insurance states that over the last five fiscal years, its loss ratios have outperformed the industry by an average of 32 percentage points.
The Midvale, UT-based company was founded in 2017 and plans to list on the NYSE under the symbol BMB. J.P. Morgan, Morgan Stanley, Deutsche Bank Securities, Evercore ISI, and Wells Fargo Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
