Bamboo Insurance Services, which provides homeowners insurance as a managing general underwriter, announced terms for its IPO on Monday.
The Midvale, UT-based company plans to raise $665 million by offering 35 million shares (100% secondary) at a price range of $18 to $20. At the midpoint of the proposed range, Bamboo Insurance Services would command a fully diluted market value of $3.3 billion.
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 Services was founded in 2018 and booked $321 million in revenue for the 12 months ended June 30, 2026. It plans to list on the NYSE under the symbol BMB. J.P. Morgan, Morgan Stanley, Deutsche Bank, Evercore ISI, and Wells Fargo Securities are the joint bookrunners on the deal. It is expected to price on Tuesday, September 22, 2026.
